Sugar Slump Drags Exports at Year’s End

Belize’s trade picture closed out 2025 with a widening gap between what the country buys and what it sells abroad.

New data released by the Statistical Institute of Belize reported that imports jumped 17.7% in December, reaching $271.4 million, fuelled by big‑ticket purchases like a sailing catamaran, an aircraft engine, and commercial kitchen equipment. Fuel imports also spiked, alongside fertilisers, processed foods, and steel coils.

At the same time, export earnings fell steeply by 68.2%, tumbling from $77 million in December 2024 to just $24.5 million. Sugar was the biggest loss, down nearly $50 million, as no bulk shipments went out at year’s end. Other traditional exports, including molasses, citrus products, and marine products, also recorded lower earnings. Bananas were the lone bright spot, rising to $9 million.

Trade patterns also shifted among major partners. Export earnings from the United Kingdom declined steeply, while sales to the United States, CARICOM, and Central America also fell. In contrast, exports to the European Union improved, largely due to banana shipments, and trade with Mexico increased on the back of higher cattle exports.

For the full year, imports totalled $2.91 billion, barely above 2024, while exports fell 16% to $390 million. Sugar again led the decline, though marine products, bananas, beans, and cattle offered some relief.