Today, the Statistical Institute of Belize published its latest statistics on the consumer price index, external trade, consumer confidence index, and gross domestic product in the 2nd quarter of 2024.
Consumer Price Index
Data from the Statistical Institute of Belize’s monthly Consumer Price Index (CPI) survey indicated that for February 2025, the All-Items CPI, which measures overall price levels across consumer goods and services, stood at 119.8. This marked an increase from 118.0 in February 2024, reflecting a national inflation rate of 1.6 percent. The year-to-date inflation rate for the first two months of 2025, compared to the same period in 2024, stood at 1.9 percent. While most of the major CPI categories recorded increases during this period, the overall rise was driven primarily by higher prices for ‘Food and Non-Alcoholic Beverages’ (2.4 percent); ‘Housing, Water, Electricity, Gas and other Fuels’ (2.4 percent); and ‘Transport’ (1 percent).
Click the following link to read more: Consumer Price Index, February 2025
Merchandise Trade
Belize’s total imports of goods for February 2025 were valued at $218.4 million. This was a decrease of 4 percent, or $9.1 million, from February 2024, when imports were valued at $227.5 million. Merchandise imports for the first two months of the year, January to February 2025, amounted to $461 million. This represented a 7.8 percent, or $38.8 million, decrease from $499.8 million during the same period last year.
Total domestic exports for February 2025 amounted to $23.3 million. This was up by 12.3 percent or $2.5 million compared to exports for February 2024, which were valued at $20.7 million. From January to February 2025, merchandise exports totaled $40.4 million, up 7.7 percent or $3 million from last year, when exports totaled $37.5 million.
Click the following link to read more: External Trade, February 2025
Consumer Confidence Index
The Consumer Confidence Index (CCI) is an indicator that measures consumers’ sentiments concerning general economic conditions within the country, their household’s economic situation, and making major household purchases. It provides an early indication of future household spending, investing, and saving. Because household spending is a major contributor to the overall economy, this in turn is an early indicator of future economic growth.
The CCI is an index number, ranging from 0 (completely pessimistic) to 100 (completely optimistic). Generally, a value greater than 50 indicates that consumers are more optimistic overall about the economy and their economic prospects. The CCI is comprised of three components: (1) perceptions about how present macroeconomic conditions and the household’s financial situation compare to twelve months prior; (2) expectations about economic conditions and the household’s financial situation over the coming twelve months; and (3) perceptions about whether the present is a good time for making major purchases of durable goods such as homes, cars, furniture, and appliances. An index is also produced for these three components to provide more detailed information on what drives consumer sentiment.
For February 2025, the national Consumer Confidence Index (CCI) stood at 46.0. This reflected a decrease of 8.9 percent from 50.5 recorded in January 2025. After four consecutive months of steadily rising sentiment, consumer confidence reverted to an overall pessimistic level, with all three subcomponents of the index registering a decline over the one month.
Click the following link to read more: Consumer Confidence Index, February 2025
Gross Domestic Product
The Statistical Institute of Belize’s preliminary Gross Domestic Product (GDP) estimates for the fourth quarter of October to December 2024 showed that the value of goods and services produced within the country during this period totaled $1.425 billion. This was an increase of 7.1 percent, or $94.5 million, from the $1.331 billion recorded during the same period in 2023.
Click the following link to read more: Gross Domestic Product, 4th Quarter 2024
