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Belize
- Economy
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Overview
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In this small, essentially private-enterprise economy, tourism is the number one foreign exchange earner followed by exports of marine products, citrus, cane sugar, bananas, and garments. The government's expansionary monetary and fiscal policies, initiated in September 1998, led to sturdy GDP growth averaging nearly 4% in 1999-2007, though growth slipped to 2.1% in 2008 and -1.5% in 2009 as a result of the global slowdown, natural disasters, and the drop in the price of oil. Oil discoveries in 2006 bolstered economic growth. Exploration efforts continue and production increased a small amount in 2009. Major concerns continue to be the sizable trade deficit and sizable foreign debt. In February 2007, the government restructured nearly all of its public external commercial debt, which helped reduce interest payments and relieve some of the country's liquidity concerns. A key short-term objective remains the reduction of poverty with the help of international donors.
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GDP
(Gross
domestic product) |
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Purchasing
power parity:
$ 2,555,000,000
USD (2009)
Rank: 178
Official
exchange rate:
$1.336 billion
Composition by
sector
- agriculture: 22.5%
- industry: 14.8%
- services: 62.6%
Per capita: $ 8,300
(2009 est.)
Rank: 117
Real growth rate: -0.9
(2009 est.)
Rank: 126
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Industrial Sector &
Agriculture |
Industries: garment production, food processing, tourism, construction, oil
Industrial production growth rate: 1,4
(2009 est.)
Rank: 142
Agriculture - products: bananas, cacao, citrus, sugar; fish, cultured shrimp; lumber; garments
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Labor Force
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Labor force: 113,000
(2006 est. )
Rank: 169
by
occupation: agriculture: 22.5%; industry: 15.2%; services: 62.3% (2005 est.)
Unemployment rate:
8.1
(2008)
Rank: 87
Population below poverty
line: 33.5%
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Financial Data |
Currency: Belizean dollar (BZD)
Code:
BZDBZ
Exchange rates: Belizean dollars per US dollar - 2 (2003), 2 (2002), 2 (2001), 2 (2000), 2 (1999)
Currency Calculator
Current
account balance: $ -39,000,000
(2009 est.)
Rank: 75
Budget
2006
- revenues:
revenues: $302.6 million
- expenditures: expenditures: $324.9 million; including capital expenditures of $70 million (2006 est.)
Inflation rate: 0,3
(2009 est.
Rank: 31
Reserves: $ 90,450,000
USD (2005)
Rank: 144
Investment: 24.4
(2009)
Rank: 48
Public Debt:
USD ( )
Rank:
Debt - external: $475 million (2001 est.)
(2008 est.)
Rank: 149
Economic Aid - Donor:
Economic Aid - Recipient: $12.91 million (2005)
Household income by percentage share highest
10%: NA
Household income by percentage share lowest 10%: NA
Bezugsjahr:
Gini Index:
Gini Index US:
Gini Index Bezugsjahr:
Corruption Index:
Corruption Rank:
Tourismus:
Tourismus-Einnahmen:
Fiscal year: 1 April - 31 March
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Source:
CIA
World Factbook. This page was last updated on
18 February, 2011
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