The small, essentially private enterprise economy
is based primarily on agriculture, agro-based industry, and
merchandising, with tourism and construction assuming greater
importance. Sugar, the chief crop, accounts for nearly half of
exports, while the banana industry is the country's largest employer.
The government's tough austerity program in 1997 resulted in an
economic slowdown that continued in 1998. The trade deficit has been
growing, mostly as a result of low export prices for sugar and
bananas. The new government faces important challenges to economic
stability. Rapid action to improve tax collection has been promised,
but a lack of progress in reining in spending could bring the exchange
rate under pressure. The tourist and construction sectors strengthened
in early 1999, leading to a preliminary estimate of revived growth at
4%.

purchasing power parity - $740 million (1999 est.)

4% (1999 est.)

purchasing power parity - $3,100 (1999 est.)

agriculture: 22%
industry: 22%
services: 56% (1998)

NA%

lowest 10%: NA%
highest 10%: NA%

-0.9% (1999 est.)

71,000
note: shortage of skilled labor and all types of technical personnel
(1997 est.)

agriculture 38%, industry 32%, services
30% (1994)

14.3% (1998)

revenues: $140 million
expenditures: $180 million, including capital expenditures of $NA
(1997)

garment production, food processing, tourism, construction

-4.4% (1998)

175 million kWh (1998)

fossil fuel: 57.14%
hydro: 42.86%
nuclear: 0%
other: 0% (1998)

163 million kWh (1998)

0 kWh (1998)

0 kWh (1998)

bananas, coca, citrus, sugarcane; lumber;
fish, cultured shrimp

$150 million (f.o.b., 1998)

sugar, bananas, citrus fruits, clothing, fish
products, molasses, wood

US 45.5%, UK 30%, EU 10%, Caricom 4.2%, Mexico
3.4%, Canada 3.3% (1997)

$320 million (c.i.f., 1998)

machinery and transportation equipment,
manufactured goods, food, fuels, chemicals, pharmaceuticals

US 52%, Mexico 13%, UK 5% (1997)

$380 million (1997)

$23.4 million (1995)

1 Belizean dollar (Bz$) = 100 cents

Belizean dollars (Bz$) per US$1 - 2.0000 (fixed rate)

1 April - 31 March