The Statistical Institute of Belize (SIB) has reported a concerning contraction in the nation’s trade performance for February 2026, with both import and export sectors experiencing notable declines compared to the same period last year.
Merchandise imports registered at $214.6 million, reflecting a 1.7% decrease equivalent to $3.8 million from February 2025. This overall reduction was primarily driven by substantial cuts in the ‘Food and Live Animals’ category, which plummeted by $11.4 million due to reduced procurement of orange concentrate and various food products. Additional contributing factors included a $5.1 million downturn in Commercial Free Zone activity, predominantly caused by diminished cigarette shipments, alongside modest declines in crude materials and chemical product imports.
These reductions were partially mitigated by increased expenditure in several sectors. Manufactured goods imports expanded by $5.3 million, fueled by heightened demand for steel rods, roofing materials, and cement. The machinery and transport equipment category similarly grew by $5.3 million, largely attributable to increased imports of electrical transformers. Furthermore, mineral fuels and lubricants saw a $4.2 million surge as Belize augmented its imports of diesel, kerosene, bunker fuel, and premium gasoline.
Domestic exports demonstrated more severe contraction, falling 12.9% to $20.5 million—a $3 million decrease from the $23.5 million recorded in February 2025. The sugar industry experienced particularly dramatic decline, with export values dropping more than 50% from $4.4 million to $2.1 million due to reduced volumes and unfavorable pricing. Citrus products, molasses, bananas, crude soybean oil, and pineapple concentrate likewise posted diminished performance.
Despite these challenges, several export categories showed resilience. Marine products surged impressively from $2.7 million to $4.4 million, propelled by increased lobster and shrimp exports. Red kidney beans and animal feed also recorded substantial gains during the reporting period.
Cumulative data for January-February 2026 reveals a 5.3% increase in total imports to $485.7 million, largely driven by machinery, fuel, and beverage imports. Conversely, domestic exports for the two-month period experienced a 2% decline to $40 million, as losses in sugar and citrus sectors outweighed gains in marine products and bananas.