GDP: $2.574 billion (2008).
Main exports: Sugar, citrus concentrates, bananas, papayas, cultured shrimp and fish.
Main imports: Machinery and transport equipment, manufactured goods, fuels, chemical products, pharmaceuticals, food, beverages and tobacco.
Main trade partners: USA, UK, Central America, EU (Finland, Spain) and Canada.

The economy of Belize has taken a real beating due to a disastrous 2008 season. Cane sugar accounts for almost half the country's exports followed closely by orange concentrates. Bananas, fish (farmed shrimp, cobia and tilapia), papayas and grapefruits are also an important secondary industry. With the exception or marine products, growth in these sectors has slowed considerably due to crop failures and the aftermath of several hurricanes. The oil sector grew by 3.4% in 2008 as a result of the sweet crude oil that was discovered in 2006.

The tourism industry, a vital part of the economy has also suffered with a 2.1% decline in overnight tourists and a 19% decline in cruises.

The country is still recovering from severe flooding caused by several tropical storms that affected the western and northern regions. The southern region was severely damaged by Hurricane Arthur. Natural catastrophes caused $66 million worth of structural damages, slowing the economy by 1.5% in 2009 with inflation increasing to 4.3% and unemployment hitting just above 12%.

Lightweight suits are often worn, although dress is more casual. Appointments should be made and business cards are acceptable. This is a child-friendly culture so it's considered polite to enquire about a colleague's family.

Office hours: Mon-Fri 0800-1200 and 1300-1700. Some businesses are open Saturdays.

Belize Chamber of Commerce and Industry
PO Box 291, 63 Regent Street, Belize City, Belize
Tel: 227 3148 or 0668.
Email: bcci@btl.net
Website: www.belize.org

Belize Trade & Investment Development Service (Beltraide)
14 Orchid Garden Street, Belmopan, Belize
Tel: 822 3737.
Website: www.belizeinvest.org.bz