Against a backdrop of widespread economic slowdown across Latin America and the Caribbean, Belize has emerged as an outlier with an upgraded growth projection for 2026, new data from the UN’s Economic Commission for Latin America and the Caribbean (ECLAC) shows. The latest revised estimates put Belize’s economic expansion at 2.5% for 2026, a notable acceleration from the 1.6% growth forecast for 2025.
This upward revision marks a rare bright spot in the region’s economic outlook. Of the 33 distinct economies tracked across Latin America and the Caribbean, only a small share are expected to see growth pick up in 2026, while 24 face projected slowdowns. The broader regional average growth forecast for 2026 currently sits at just 2.2%, dragged down by a combination of persistent headwinds that are damping activity across most of the area.
According to ECLAC’s analysis, multiple interconnected factors are dragging on regional performance. Sluggish growth in private household consumption has failed to provide the economic lift seen in post-pandemic recovery periods, while persistent upward pressure on inflation continues to erode purchasing power for consumers across the region. On the global front, mounting geopolitical tensions, elevated international oil prices, and a broad slowdown in cross-border trade have created a challenging external environment that most economies in the region are struggling to navigate.
The slowdown is also spilling over into regional labor markets. ECLAC projects that employment growth across Latin America and the Caribbean will ease to around 1.1% in 2026, down from 1.5% recorded in 2025.
While Belize’s accelerating growth projection stands out against this subdued regional trend, ECLAC has emphasized that significant downside risks remain for all economies across the region, including Belize itself. Volatile global financial conditions, ongoing upward pressure on energy and food commodity prices, and deep-rooted structural economic vulnerabilities that many countries have not addressed could all constrain stronger performance in the second half of 2026 and into 2027.