Today, the Statistical Institute of Belize published its latest statistics on the Consumer Price Index, Merchandise Trade, 3rd Quarter 2021 Gross Domestic Product, and the September 2021 Labor Force Survey.
Consumer Price Index
The most recent results from the Statistical Institute of Belize’s monthly Consumer Price Index (CPI) survey show that for October 2021, the All-Items CPI, which summarizes price levels across all categories of goods and services, stood at 105.2, up from 100 in October 2020. This indicated that, on average, the country experienced an overall national inflation rate of 5.2 percent on the cost of goods and services commonly purchased by Belizean households. This was the highest monthly inflation rate recorded since August of 2008 and was due to higher prices for goods and services within the categories of ‘Transport,’ ‘Food and Non-Alcoholic Beverages,’ ‘Housing, Water, Electricity, Gas and Other Fuels,’ and ‘Restaurants and Accommodation Services.’ The year-to-date or cumulative inflation rate for the first ten months of 2021, compared to the same period in 2020, stood at 2.8 percent and was primarily driven by higher food, fuel, and LPG prices.
Click the following link to read more: Consumer Price Index, October 2021
Merchandise Trade
In October 2021, Belize’s imported goods were valued at $182.9 million. This was up by a considerable 39.2 percent or $51.6 million from $131.4 million in October 2020, as merchandise trade continued its recovery to pre-pandemic levels. Merchandise imports for January to October 2021 totaled $1.7 billion, a 29.7 percent or $386.5 million increase from the same period last year when total imports were valued at $1.3 billion. This considerable increase resulted from a rise in imports across all commodity categories, with both quantities and prices rising markedly over the period.
Total domestic exports for October 2021 amounted to $32.1 million, up by 29.2 percent or $7.2 million from the $24.8 million recorded for October 2020. Merchandise exports for January to October 2021 totaled $367.4 million, up 13.2 percent or $42.8 million from that same period last year, as noteworthy increases were recorded for several commodities during the ten months.
Click the following link to read more: External Trade, October 2021
Gross Domestic Product
The Statistical Institute of Belize’s preliminary Gross Domestic Product estimates for the third quarter of 2021 showed that from July to September of this year, the total value of goods and services produced within Belize was $649.7 million. This represented an increase of 15.2 percent or $85.7 million from $564 million produced in the same period of 2020.
Labor Force Survey
Preliminary results from the Statistical Institute of Belize’s September 2021 Labour Force Survey (LFS) showed that the national unemployment rate declined from 13.7 percent in September 2020 to 9.2 percent in September 2021, as major industries such as ‘Tourism’ gradually recover from the adverse effects of the COVID-19 pandemic. An estimated 28,782 more persons were employed in September 2021 compared to the same month last year, with the most notable gains in employment being seen for jobs in tourism, wholesale and retail trade, and call centers.
Click the following link to read more: Labour Force Survey, September 2021
