Belize Imports $7.60 for Every Dollar It Earns in Exports
Belize’s domestic exports jumped by 31.7% in September, driven largely by sugar shipments. Earnings for the first nine months of 2026 remained below last year’s level, according to the Statistical Institute of Belize (SIB).
The country earned $47.9 million from domestic merchandise exports in September, up from $36.4 million in September 2025. Sugar earnings climbed from $3.8 million to $20.7 million almost entirely because of the timing of sugar shipments, including bulk sugar exports recorded this September but not during the same month last year.
However, export earnings from January through September totalled $320.7 million, down 9.3% from $353.8 million during the corresponding period in 2025.
Citrus products recorded the largest decline, falling by $17.4 million to $10.9 million, as exports of orange concentrate, orange oil and grapefruit concentrate decreased. Sugar earnings also fell by $12.5 million to $85.8 million, while red kidney bean exports dropped by $3.3 million to $4.7 million.
On the import side, Belize spent $241.8 million on merchandise in September, a 3.8% decrease from the $251.4 million recorded a year earlier. Lower purchases of machinery and transport equipment contributed to the decline, while fuel imports increased by $18.4 million to $44.2 million.
Despite September’s reduction, total imports for January to September rose 13.5% to $2.449 billion, up from $2.157 billion in the same period last year.
The gap between what Belize buys and what it sells grew by about $325 million, to roughly $2.13 billion. For every dollar Belize earned from exports, it spent about $7.60 on imports.
Cabinet ministers met this week to discuss the cost-of-living burden on Belizeans. Minister Louis Zabaneh’s position was that Belize must start focusing on producing more and selling more to the world. Nine months of trade figures by the SIB show Belize is doing the opposite.
On Wednesday, Minister Rodwell Ferguson said Belize needs a larger tax base. Ferguson confirmed that Prime Minister John Briceño plans to move money within the existing budget rather than cut costs as a measure to alleviate the financial burden on Belizeans.
Cabinet has not announced their official decision.