logo blftrade

Home > Country profiles > Trade Profile

flag Belize Belize: Trade Profile

Foreign Trade in Figures

Even if Belize is open to international trade, it still exists some barriers. Outside from the imports coming from the CARICOM (Caribbean Community and Common Market) which are exempted from import duties, other countries are subject to import customs duties which are relatively high: taxes are from 0% to 45%. Moreover, in order to protect certain national industries, import licenses are mandatory. 

In terms of hydrocarbon resources, they represent half of the tax revenue and despite the discovery of an important oil field in the northern territory of the country, Belize depends of the other signers on the Petrocaribe agreement (mainly, the United States, Mexico and Venezuela) in terms of energy. Due to this, Belize has registered a deficit trade balance which is difficult to stabilize even if its fruit crops and its exports have made progress.

Belize depends heavily on its trade with the United States, its main trade partner (50% of imports). Foreign trade is subject to the fluctuation of global prices on raw materials and to the continuity of certain trade agreements, especially with the United States, the European Union (sugar cane) and the United Kingdom (bananas).

 
Foreign Trade Indicators 20072008200920102011
Imports of Goods (million USD) 684837668700900
Exports of Goods (million USD) 267310265330350
Imports of Services (million USD) 159161154154174
Exports of Services (million USD) 369355317325308
Imports of Goods and Services (Annual % Change) -013---
Exports of Goods and Services (Annual % Change) -63---
Trade Balance (million USD) -216-308-237-171-
Current Account (million USD) -52-132-94--
Foreign Trade (in % of GDP) 122132---
Imports of Goods and Services (in % of GDP) 6270---
Exports of Goods and Services (in % of GDP) 6062---

Source: WTO - World Trade Organization ; World Bank - Last Available Data.

Return to top

Main Partner Countries

Main Customers
(% of Exports)
2010
United States 49.1%
United Kingdom 26.1%
Costa Rica 4.5%
Netherlands 3.6%
Japan 2.9%
See More Countries 13.7%
Main Suppliers
(% of Imports)
2010
United States 47.9%
Mexico 10.0%
China 9.7%
Guatemala 8.0%
Panama 5.4%
See More Countries 19.0%

Source: Comtrade, Last Available Data

Return to top

Main Products

Main Exports
(% of Exports)
2010
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 35.7%
Fruit juices, incl. grape must, and vegetable...Fruit juices, incl. grape must, and vegetable juices, unfermented, not containing added spirit, whether or not containing added sugar or other sweetening matter 15.2%
Bananas, incl. plantains, fresh or driedBananas, incl. plantains, fresh or dried 14.6%
Cane or beet sugar and chemically pure sucrose, in...Cane or beet sugar and chemically pure sucrose, in solid form 10.4%
Crustaceans, fit for human consumption, whether in...Crustaceans, fit for human consumption, whether in shell or not, live, fresh, chilled, frozen, dried, salted or in brine, incl. crustaceans in shell cooked beforehand by steaming or by boiling in water; flours, meals and pellets of crustaceans, fit for human consumption 9.5%
See More Products 14.7%
Main Imports
(% of Imports)
2010
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 14.9%
Cigars, cheroots, cigarillos and cigarettes of...Cigars, cheroots, cigarillos and cigarettes of tobacco or of tobacco substitutes 2.2%
Footwear with outer soles of rubber, plastics,...Footwear with outer soles of rubber, plastics, leather or composition leather and uppers of textile materials (excl. toy footwear) 1.9%
Cartons, boxes, cases, bags and other packing...Cartons, boxes, cases, bags and other packing containers, of paper, paperboard, cellulose wadding or webs of cellulose fibres, n.e.s.; box files, letter trays, and similar articles, of paperboard of a kind used in offices, shops or the like 1.6%
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons 1.5%
See More Products 77.9%

Source: Comtrade, Last Available Data

 

To go further, check out our service Import controls and Export controls

To go further, check out our service Import export flows

Return to top

Commercial Policy

Main International Economic Cooperation
Member of World Trade Organisation
Member of Caribbean Common Market (CARICOM)

Member of Free Trade Area of the Americas (FTAA)

Assessment of Commercial Policy
The assessment of Belize’s commercial policy
Average Customs Duty (Excluding Agricultural Products)
20%
 

List of tariffs and local taxes that apply to your product on our service Customs duties and local taxes

 
Useful Resources
Belize Customs and Excise Department
National Organization of Intellectual Property
The BELIPO, Belize Intellectual Property Office .
 

Return to top

Any Comments About This Content? Report It to Us.

 
 
Learn more about How to Export to Belize on Globaltrade.net, the Directory for International Trade Service Providers.
 

© Export Entreprises SA, All Rights Reserved.
Last Updates: May 2012

TERMS & CONDITIONS | SITEMAP | FAQ | VIDEOS | CONTACT
English
Francais
Country profiles Best trading countries Import-Export flows Market reports search Professional reviews Consumption Data Business alert
Online directories Qualified list of prospects Professional associations Trade shows Your export selling price Landed cost calculator Currency convertor Measurement convertor Translate your documents Test your product Marketplaces directory
Shipping Documents Labelling rules Standards International customs classification no. Local customs classification no. Customs duties and local taxes Export controls Import controls
Presentation Our services Our publications Contact