Belize’s export economy experienced a severe contraction in December 2025, with official data revealing a dramatic 68.2% decline in domestic export earnings compared to the same period in 2024. The Statistical Institute of Belize reported total exports plummeted to $24.5 million from $77.0 million the previous year, marking the most significant monthly downturn of the year.
The collapse was predominantly driven by the absence of bulk sugar shipments, which accounted for a staggering $49.9 million reduction in earnings. While December 2024 had seen substantial sugar exports totaling $52.4 million, the same month in 2025 recorded merely $2.5 million in sugar revenue. This timing discrepancy in major shipments was identified as the primary factor behind the drastic year-over-year comparison.
Multiple export sectors faced parallel declines. Molasses exports deteriorated by $2.7 million, alcoholic beverages decreased by $1.4 million, and citrus products fell by $1.1 million due to reduced orange concentrate sales. Animal feed and marine products also registered declines of $1.0 million and $0.3 million respectively, with the latter attributed to weaker lobster tail sales.
Amid the widespread downturn, banana exports emerged as a notable bright spot, increasing by $2.4 million to reach $9.0 million. Smaller gains were observed in cattle and pineapple concentrate exports, which rose by $0.5 million and $0.4 million respectively.
The export contraction manifested across key international markets. United Kingdom revenues collapsed by $49.8 million, directly mirroring the sugar shipment absence. The United States market declined by $4.7 million, while CARICOM countries saw a $1.9 million reduction. Conversely, exports to the European Union increased by $3.6 million supported by banana sales, and Mexico recorded a $0.7 million gain from stronger cattle exports.
For the full year 2025, Belize’s total domestic exports reached $390.0 million, representing a $74.0 million (16.0%) decrease from 2024. The annual decline was again led by sugar, which dropped $68.6 million due to both reduced quantities and less favorable pricing. Several traditional export commodities including molasses, citrus products, and alcoholic beverages contributed to the annual downturn.
Partially offsetting these losses, marine products rose by $9.2 million, bananas increased by $6.9 million, cattle exports climbed by $4.3 million, and crude soybean oil gained $3.0 million. The data indicates that while December’s extreme contraction resulted primarily from shipment scheduling anomalies, the broader annual decline reflects more fundamental challenges including reduced export volumes and weaker global prices across multiple commodity sectors.