Economy contracts 23.3% in the second quarter, consumer prices up 0.1%, and both imports and domestic exports down 37.8% and 37.3% respectively in July 2020.

In July 2020, Belize imported goods valuing $119 million. This represented a 37.8 percent or $72.4 million decrease from the same month last year. Merchandise imports for the first seven months of the year, January to July 2020,
amounted to $912.8 million, representing a 19.3 percent or almost $219 million decrease from the same period last year, when imports totaled $1.1 billion.

The total value of Belize’s domestic exports for the month of July 2020 was just under $29 million, down by a substantial 37.3 percent or $17.2 million when compared to exports for July 2019, which were valued at $46.2 million. Merchandise exports for the period January to July 2020 totaled $220.4 million, down 13.1 percent or $33.3 million from the $253.7 million recorded for the same period last year.

Click the following link to read more: External Trade, July 2020

The Statistical Institute of Belize’s Gross Domestic Product estimates for the second quarter, April to June of 2020, indicated that the country’s overall level of economic activity declined sharply by 23.3 percent when compared to the second quarter of 2019. The total value of goods and services produced within Belize during the period were valued at $558.6 million, down by $169.9 million from $728.5 million produced during the same three months of 2019.

Click the following link to read more: Gross Domestic Product, 2nd Quarter 2020