New data released by the Statistical Institute of Belize (SIB) has revealed a marked slowdown in the Central American nation’s economic expansion during the second quarter of 2026, with output growth falling to less than half of the full-year rate recorded in 2025. Between April and June, Belize’s gross domestic product (GDP) expanded by 1.4% year-on-year to hit $1.388 billion, down significantly from the 2.9% full-year growth the country posted in 2025, when annual GDP reached $5.345 billion.
According to SIB Statistician II Christopher Hulse, the bulk of this modest growth was driven by a narrow set of service and public sector industries. “We can see that the largest drivers were wholesale and retail trade, taxes, public administration and other service activities,” Hulse explained. Tax-related activity alone outpaced overall GDP growth, climbing 6.4% over the quarter.
However, the country’s core production and construction sectors moved in the opposite direction, posting notable contractions that dragged down overall economic performance. The primary sector, which encompasses agriculture, forestry, fishing and mining, shrank by 6.1% year-on-year, equal to a $7.6 million reduction in output. The secondary sector, which covers manufacturing, construction and industrial activity, fell by an even sharper 6.4%, a $13.6 million drop.
Hulse confirmed that agriculture, manufacturing and construction logged the largest contraction of any segment during the three-month period. Manufacturing output fell by 9.9%, while construction activity declined by 4.7% compared to the second quarter of 2025.
Within agriculture, citrus production suffered the most dramatic decline: output plummeted by more than 63% year-on-year, falling from 10,400 tonnes in Q2 2025 to just 3,800 tonnes in the same period this year. Banana output also slipped, dropping from 28,500 tonnes to 24,200 tonnes over the same timeframe.
Against these declines, a handful of agricultural and tourism-related segments posted strong gains that helped soften the overall slowdown. Sugarcane production climbed to 920,600 tonnes in the second quarter of 2026, marking the highest Q2 output the country has recorded since 2021. Marine exports jumped by 33.6% overall, with shrimp exports more than doubling compared to last year.
In the tourism sector, which is a major pillar of Belize’s economy, overnight tourist arrivals surged by nearly 29% year-on-year, rising from 150,900 to 194,600 visitors. Domestic electricity output also grew by 8.6%, reflecting mild gains in overall domestic consumption. Only cruise ship arrivals saw a small pullback, dipping slightly to 131,400 arrivals over the quarter.