General / Weekend News

Imports go up, but so do exports

By Benjamin Flowers, Staff Reporter

Belize’s exports have risen while exports have declined, according to the latest data released from the Statistical Institute of Belize.

The SIB this week released its External Trade Bulletin for the month of November, which showed that imports had increased by 3.8 percent or $6.9 million, from $183.3 million imported in November 2014, to $190.2 million. Exports were recorded at $38.1 million, a $5.7 million or 17.8 increase from 2014’s $32.4 million.

Merchandise imports from January to November totaled $1.9 billion dollars, showing a 3.2 percent or $58.3 million increase over the same period last year. Merchandise exports for the eleven months (January to November) amounted to $515.3 million, down by 11.5 percent or $66.7 million from the same period last year.

Imports of ‘Machinery and Transport Equipment’ rose sharply by $26 million, from $34 million during last November to $60 million in November 2015. The increase was due primarily to $18 million increase in importing motor vehicle parts. Importation of ‘Manufactured Goods’ rose by $2 million owing to greater steel and tire purchases and was the only other notable increase during the month.

“Sugar sales shot up from less than a million dollars in November 2014 to $13.4 million during this November, offsetting declines in Belize’s three other major exports. These three major products, crude petroleum, marine products and bananas, constituted almost three fourths of Belize’s export in November 2014, but had fallen to less than a half total imports in November 2015.” The SIB said.

Crude petroleum faced the largest decrease at $4 million for the month, while marine products and bananas each declined by $2 million. Citrus exports maintained an upward trend, increasing by over a million dollars in comparison to the same month last year.

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