Belize

Description of Belize

Belize is a unique and vibrant country located in Central America, bordered by Mexico to the north and Guatemala to the west and south. With a rich cultural heritage stemming from a mix of Mayan, Caribbean, and Spanish influences, Belize offers a captivating blend of traditions, languages, and customs. Known for its stunning barrier reef, lush rainforests, and diverse wildlife, Belize is a paradise for eco-tourism enthusiasts and nature lovers alike. Its bustling tourism industry, coupled with a growing focus on sustainable development, positions Belize as a dynamic player in the region. Delving into the macroeconomic landscape of Belize unveils a fascinating tapestry of opportunities and challenges that shape the country's path towards prosperity and stability.

Population And Age Structure

Population, total: Belize has a population of 394,921, which is significantly below the average population of 40,097,746. Belize ranks 170th out of 194 countries in terms of population.

Population ages 0-14 (% of total population): With 28.78% of the population falling into this age group, Belize is slightly above the average of 27.34%. Belize ranks 83rd out of 194 countries in this category.

Population ages 0-14, total: The total number of individuals aged 0-14 in Belize is 113,644, which is well below the average of 10,327,379. Belize ranks 165th out of 194 countries for this metric.

Population ages 15-64 (% of total population): Belize has 66.42% of its population aged 15-64, surpassing the average of 63.44%. The country ranks 62nd out of 194 countries in this age group.

Population ages 15-64, total: With a total of 262,298 individuals aged 15-64, Belize falls below the average of 26,003,407. Belize occupies the 170th rank out of 194 countries in this category.

Population ages 65 and above (% of total population): Belize has 4.81% of its population aged 65 and above, lower than the average of 9.22%. In this age group, Belize ranks 122nd out of 194 countries.

Population ages 65 and above, total: The total number of individuals aged 65 and above in Belize is 18,979, which is significantly lower than the average of 3,766,959. Belize holds the 172nd rank out of 194 countries for this statistic.

Summary

Belize has a relatively small population compared to the global average, ranking 170th out of 194 countries. The country has a higher percentage of individuals in the 0-14 age group and a lower percentage in the 65 and above age group compared to the global averages. These demographic indicators are crucial as they impact various aspects of the economy such as labor force dynamics, healthcare needs, and social welfare requirements, influencing long-term development strategies and resource allocation in Belize.

Population Miscellaneous

The Rural population in Belize is 213,159 which is significantly below the attribute average of 18,044,041. Belize ranks 159th out of 190 countries in this category.
The Rural population (% of total population) in Belize is 53.975%, above the attribute average of 41.158%. Belize ranks 60th out of 190 countries in this category.
The Urban population in Belize is 181,762, well below the attribute average of 22,425,747. Belize ranks 170th out of 194 countries in this category.
The Urban population (% of total population) in Belize is 46.025%, lower than the attribute average of 59.691%. Belize ranks 135th out of 194 countries in this category.
The Age dependency ratio (% of working-age population) in Belize is 50.562%, below the attribute average of 59.219%. Belize ranks 133rd out of 194 countries in this category.
Belize has a crude Birth rate of 17.881 per 1,000 people, slightly below the attribute average of 19.384. Belize ranks 92nd out of 192 countries in this category.
The crude Death rate in Belize is 5.244 per 1,000 people, significantly lower than the attribute average of 8.214. Belize ranks 176th out of 192 countries in this category.
The total Fertility rate in Belize is 1.999 births per woman, below the attribute average of 2.603. Belize ranks 105th out of 190 countries in this category.

Summary

Belize exhibits a unique demographic profile compared to the global average, with a higher percentage of rural population and a lower urban population, indicating a distinct distribution of inhabitants. The country also demonstrates a lower age dependency ratio, showcasing potentially higher workforce participation. Moreover, Belize's lower crude birth and death rates suggest a relatively stable population growth rate with room for potential demographic shifts. Understanding these demographic indicators is crucial for policymakers and investors to tailor strategies that address specific needs and make informed decisions aligned with Belize's demographic landscape.

Military

Analysis of Military Expenditure (current USD): Belize's military expenditure of 26,025,325 USD is significantly below the average of 12,904,936,17 USD, ranking 141 out of 149 countries in the dataset.

Analysis of Military Expenditure (% of GDP): Belize's military expenditure as a percentage of GDP is 1.25%, below the average of 1.90%, ranking 100 out of 148 countries.

Analysis of Armed Forces Personnel, Total: Belize has 2000 armed forces personnel, well below the average of 165,908.54, ranking 154 out of 164 countries.

Analysis of Armed Forces Personnel (% of total labor force): Belize's armed forces personnel as a percentage of the total labor force is 1.16%, slightly below the average of 1.28%, ranking 54 out of 164 countries.

Summary

In summary, Belize spends significantly less on military expenditure compared to the average, has a lower percentage of GDP allocated to the military, a smaller number of armed forces personnel, and a lower percentage of armed forces personnel in the total labor force than the average among the countries analyzed.

These findings are important as they indicate that Belize prioritizes other areas over military spending, potentially impacting its defense capabilities and international relations. The lower military expenditure and personnel levels may also reflect a focus on economic development and social welfare within the country.

Natural Resources

For Forest area (sq. km), Belize has 12,770.5 sq. km of forest area, which is significantly below the average of 211,606.11 sq. km, ranking 114th out of 191 countries.

Regarding Land area (sq. km), Belize's 22,810 sq. km land area is notably lower than the average of 665,166.51 sq. km, placing it 147th out of 194 countries.

With a Surface area (sq. km) of 22,970, Belize falls below the average of 689,779.56 sq. km, also ranking 147th out of 194 countries.

For Arable land (hectares), Belize possesses 98,000 hectares, significantly lower than the average of 7,329,543.16 hectares, ranking 148th out of 190 countries.

Land under cereal production (hectares) in Belize covers 31,763 hectares, considerably below the average of 4,206,011.63 hectares, ranking 144th out of 174 countries.

The Average precipitation in depth (mm per year) in Belize is 1,705 mm, surpassing the average of 1,157.83 mm, placing it 45th out of 178 countries.

As for Renewable internal freshwater resources, total (billion cubic meters), Belize has 15.26 billion cubic meters, significantly below the average of 240.41 billion cubic meters, ranking 110th out of 178 countries.

Summary

Belize's key macroeconomic indicators show that it has limited forest, land, and arable land areas compared to the global average, ranking below in these categories. However, the country surpasses the average in average precipitation depth but falls short in renewable internal freshwater resources. These indicators are crucial as they highlight Belize's environmental limitations and resource availability, which can impact agriculture, biodiversity, and overall economic development.

Resource Rents

Total natural resources rents (% of GDP) in Belize are significantly below the attribute average of 4.63%, ranking at 122 out of 175 countries. This indicates a lower reliance on natural resources for GDP generation compared to other nations.

Forest rents (% of GDP) in Belize are also below the attribute average of 1.53%, standing at 0.34% and ranking 79 out of 174 countries. Belize shows a relatively lower contribution of forest rents to its GDP compared to the average.

Oil rents (% of GDP) in Belize are notably below the attribute average of 2.51%, at 0.14% and ranked 63 out of 117 countries. Belize exhibits a limited dependency on oil rents for its GDP in comparison to the average.

Natural gas rents (% of GDP) in Belize are significantly under the attribute average of 1.25%, with a value of 0.001%, ranking 87 out of 96 countries. Belize demonstrates minimal reliance on natural gas rents in its GDP relative to the average.

Summary

Total natural resources rents, forest rents, oil rents, and natural gas rents in Belize are all notably below the respective attribute averages. This suggests that Belize has a diversified economy with lower dependence on natural resource rents compared to other countries globally. This diversification can be beneficial for Belize as it reduces vulnerability to fluctuations in commodity prices and environmental risks associated with resource extraction.

Commodities

Regarding Cereal production, Belize's value of 112,007 metric tons is significantly below the average of 17,249,945. Belize ranks 142 out of 174 countries in this attribute data.

For Aquaculture production, Belize's production of 555 metric tons is notably lower than the average of 679,642. Belize holds the 135th rank out of 180 countries.

In terms of Capture fisheries production, Belize's output of 186,899.16 metric tons is below the average of 467,453. Belize ranks 61st out of 190 countries in this category.

Looking at Total fisheries production, Belize's 187,454.16 metric tons is also under the average of 1,153,914. Belize ranks 65th out of 182 countries in this aspect.

As for Fertilizer consumption, Belize's rate of 402.61 kilograms per hectare of arable land exceeds the average of 159.04. Belize holds the 13th rank out of 187 countries in this dataset.

Summary

Belize performs below average in key macroeconomic indicators related to agriculture and fisheries production, ranking lower than the global average in cereal, aquaculture, capture fisheries, and total fisheries production. However, Belize stands out in terms of fertilizer consumption, surpassing the global average significantly and securing a relatively high ranking globally. These findings are crucial as they highlight Belize's strengths and weaknesses in its agriculture and fisheries sectors, pointing to areas where improvement or further investment may be needed to enhance overall economic productivity and food security.

Intellectual Property

When it comes to Industrial design applications by nonresidents, Belize lags behind with 265 applications, significantly below the average of 1415.83 applications. With a rank of 59 out of 112 countries, there is room for improvement in attracting nonresident industrial design applications.

In terms of Industrial design applications by residents, Belize only has 5 applications, a stark difference from the average of 9799.58 applications. This places Belize at a low rank of 106 out of 113 countries, indicating a need to foster more resident industrial design activity.

Belize also falls short in Patent applications by nonresidents with 23 applications, well below the average of 6538.40 applications. The country ranks 86 out of 129 countries, suggesting a potential for growth in attracting nonresident patent applications.

For Scientific and technical journal articles, Belize produces 14 articles, a significant deviation from the average of 15103.76 articles. Belize ranks 172 out of 192 countries, highlighting a gap in scientific research output compared to other nations.

When it comes to Charges for the use of intellectual property payments, Belize records $5,598,606.08, considerably lower than the average of $3,218,843,494.39. With a rank of 110 out of 143 countries, Belize's intellectual property payments are notably below the global average.

Summary

Belize is falling behind in various key macroeconomic indicators related to industrial design, patent applications, scientific research output, and intellectual property payments compared to global averages. The country's low rankings in these areas indicate a need for significant improvement to attract more nonresident industrial design and patent applications, encourage resident industrial design activities, increase scientific research output, and enhance intellectual property payments. Addressing these shortcomings is crucial for Belize to foster innovation, competitiveness, and economic growth in the long term.

Broad Economy Attributes

When it comes to GDP (current US$), Belize stands at $2,047,727,810.07, which is significantly below the average GDP of $442,870,224,838.68. Belize ranks 167 out of 189 countries in this data set.

For GDP, PPP (current international $), Belize's value is $3,163,690,403.60, also notably lower than the average GDP of $734,141,122,350.78. Belize holds the 163rd position out of 181 countries.

Belize's GDP per capita (current US$) is $5,185.16, falling beneath the average of $15,462.11. In this category, Belize ranks 101 out of 190 countries.

Considering GDP per capita, PPP (current international $), Belize's value is $8,010.94, lower than the average of $21,251.89. The country holds the 118th spot out of 181 nations.

Regarding GNI (current US$), Belize records $1,989,091,688.09, significantly below the average GNI of $452,040,815,370.70. Belize ranks 164 out of 185 countries in this aspect.

When looking at GNI, PPP (current international $), Belize's value is $3,073,099,000.05, also notably less than the average of $730,698,223,823.47. Belize is positioned 163 out of 181 countries in this metric.

Lastly, in terms of GNI per capita, PPP (current international $), Belize has a value of $7,780, which is lower than the average of $20,615.75. Belize ranks 119 out of 181 countries in this indicator.

Summary

Belize's key macroeconomic indicators, including GDP, GDP per capita, GNI, and GNI per capita, consistently show the country performing below the global averages. This suggests that Belize faces economic challenges compared to a large number of countries worldwide. The findings are crucial as they indicate the need for targeted economic policies and interventions to improve Belize's economic performance and enhance the well-being of its population.

Broad Value Added

- Gross value added at basic prices (GVA) (current US$): Belize's GVA is $1.76 billion, significantly below the average of $360.07 billion, ranking 158th out of 176 countries.
- Agriculture, forestry, and fishing, value added (% of GDP): Belize's value added in this sector accounts for 8.35% of its GDP, lower than the average of 10.86%, placing it at the 84th position out of 182 countries.
- Agriculture, forestry, and fishing, value added (current US$): Belize's value added in this sector is $170.95 million, much lower than the average of $19.92 billion, ranking 157th out of 182 countries.
- Services, value added (% of GDP): Belize's service sector contributes 61.07% to its GDP, higher than the average of 56.72%, positioning it at the 62nd rank out of 183 countries.
- Services, value added (current US$): Belize's service sector value added is $1.25 billion, well below the average of $295.84 billion, placing it in the 160th position out of 183 countries.
- Industry (including construction), value added (current US$): Belize's industry value added is $339.86 million, significantly below the average of $118.42 billion, ranking 164th out of 183 countries.

Summary

Belize's economy exhibits a notable disparity in key macroeconomic indicators compared to global averages and rankings. The country's low GVA, agriculture, forestry, and fishing value added, and industry value added, coupled with higher service sector contribution, signify a skewed economic structure. This imbalance underscores the need for Belize to diversify its economy, strengthen its agriculture and industry sectors, and potentially capitalize on its service sector strength to drive sustainable and balanced economic growth.

Manufacturing Value Added

When considering Manufacturing, value added (current US$), Belize's value of 144,498,724.62 is significantly below the attribute average of 76,207,179,589.66. This places Belize at rank 150 out of 173 countries in the dataset.

For Manufacturing, value added (% of GDP), Belize's value of 7.06% is lower than the attribute average of 11.90%. Belize is ranked 131 out of 173 countries included in the data.

In terms of Medium and high-tech manufacturing value added (% manufacturing value added), Belize's value of 18.46% is below the attribute average of 24.49%. This positions Belize at rank 88 out of 149 countries in the dataset.

Summary

Belize's manufacturing sector, as indicated by both the absolute value added and its contribution to the GDP, falls below the global average. Additionally, the country's share of medium and high-tech manufacturing value added is also lower than the average among nations included in the dataset. These indicators suggest that Belize may face challenges in developing and diversifying its manufacturing industry to compete effectively on a global scale, potentially impacting its overall economic growth and resilience.

Money

Inflation, consumer prices (annual %): In Belize, the inflation rate is relatively low at 0.12%, significantly below the average of 8.26%. This places Belize at rank 133 out of 165 countries in the dataset.

Inflation, GDP deflator (annual %): Belize experiences deflation with a rate of -0.55%, well below the average of 6.90%. Belize ranks 147 out of 188 countries in this metric.

Broad money growth (annual %): Belize has a high broad money growth rate of 11.92%, slightly below the average of 18.03%. Belize is ranked 83 out of 139 countries for this indicator.

Broad money (% of GDP): With broad money amounting to 86.29% of GDP, Belize exceeds the average of 71.75%. This places Belize at rank 44 out of 139 countries.

Broad money to total reserves ratio: Belize's ratio of 5.08% is slightly below the average of 5.17%. Belize ranks at 24 out of 126 countries in this aspect.

Summary

Belize displays a unique economic profile with relatively low inflation rates compared to global averages, with the country ranking moderately in terms of inflation and broad money growth. The high broad money as a percentage of GDP indicates a significant financial presence in the economy. Maintaining stable inflation rates while managing the broad money growth will be crucial for Belize to sustain economic growth and stability in the long term.

Consumption Expenditure

- Final consumption expenditure in current US$ for Belize is 1545500008.10905, which is significantly below the average of 381630252515.3805 (rank 149 out of 159 countries).
- Final consumption expenditure as a percentage of GDP for Belize is 75.47%, slightly below the average of 82.37% (rank 106 out of 159 countries).
- General government final consumption expenditure in current US$ for Belize is 353817018.959311, well below the average of 93676578238.03342 (rank 147 out of 158 countries).
- General government final consumption expenditure as a percentage of GDP for Belize is 17.28%, lower than the average of 18.71% (rank 82 out of 158 countries).
- Household and NPISHs final consumption expenditure in current US$ for Belize is 1191682989.14973, significantly below the average of 290127571157.693 (rank 147 out of 158 countries).
- Household and NPISHs final consumption expenditure as a percentage of GDP for Belize is 58.20%, below the average of 63.68% (rank 98 out of 158 countries).

Summary

Belize exhibits relatively low final consumption expenditure compared to the global average, ranking below average in both total consumption and government consumption. This indicates potential challenges in stimulating domestic demand and government spending, which are crucial for economic growth and stability. Addressing these issues through targeted policy measures may be essential to enhance Belize's economic development and improve its overall macroeconomic performance.

Investment

Foreign direct investment, net (BoP, current US$): Belize received -71774621.67 in net FDI, ranking 57 out of 169 countries. This value is above the average net FDI of -1615235980.51.

Foreign direct investment, net inflows (BoP, current US$): Belize received 76202813.50 in net FDI inflows, ranking 131 out of 182 countries. This value is below the average net FDI inflows of 5749271080.15.

Foreign direct investment, net inflows (% of GDP): Belize's net FDI inflows as a percentage of GDP is 3.72%, ranking 51 out of 178 countries. This percentage is higher than the average of 2.61%.

Foreign direct investment, net outflows (BoP, current US$): Belize had net FDI outflows of 4428191.83, ranking 102 out of 156 countries. This value is below the average net FDI outflows of 5707991116.07.

Foreign direct investment, net outflows (% of GDP): Belize's net FDI outflows as a percentage of GDP is 0.22%, ranking 80 out of 155 countries. This percentage is lower than the average of 1.00%.

Portfolio Investment, net (BoP, current US$): Belize had -6499398.53 in net portfolio investment, ranking 84 out of 159 countries. This value is below the average net portfolio investment of 679559169.57.

Portfolio investment, bonds (PPG + PNG) (NFL, current US$): Belize's portfolio investment in bonds was 17300000, ranking 35 out of 59 countries. This value is significantly below the average portfolio investment in bonds of 4134263915.25.

Summary

The analysis of key macroeconomic indicators for Belize reveals that the country receives a significant amount of net FDI but has relatively low net FDI inflows and outflows compared to the global average. Additionally, Belize's net FDI inflows as a percentage of GDP are higher than average, indicating a relatively strong FDI contribution to the economy. However, the country's net outflows as a percentage of GDP are lower than average, suggesting that Belize is not investing abroad as much as other countries.

These findings are important as they provide insights into Belize's attractiveness to foreign investors, its utilization of FDI inflows and outflows, and its investment behavior in the global market. Understanding these indicators helps policymakers, investors, and analysts assess Belize's economic performance, competitiveness, and potential for growth in the global economy.

Debt

1. Total debt service (% of GNI): Belize's total debt service as a percentage of Gross National Income (4.0014%) is below the average (5.9837%). Belize ranks 62 out of 120 countries in this attribute.

2. Public and publicly guaranteed debt service (% of GNI): Belize's debt service as a percentage of GNI (3.7917%) is higher than the average (2.8413%). Belize ranks 34 out of 120 countries in this attribute.

3. External debt stocks (% of GNI): Belize's external debt stocks as a percentage of GNI (76.7186%) exceed the average (65.4181%). Belize ranks 30 out of 120 countries in this attribute.

4. Debt service on external debt, total (TDS, current US$): Belize's current total debt service on external debt is $79,592,105.70, significantly below the average debt service of $9,811,195,839.23. Belize ranks 100 out of 123 countries in this attribute.

5. Debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$): Belize's debt service on public and publicly guaranteed external debt is $75,420,093.90, below the average of $3,310,612,057.60. Belize ranks 96 out of 123 countries in this attribute.

6. External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$): Belize's external debt stocks for public and publicly guaranteed debt amount to $1,408,403,247.80, significantly lower than the average of $28,695,879,144.98. Belize ranks 100 out of 123 countries in this attribute.

7. External debt stocks, private nonguaranteed (PNG) (DOD, current US$): Belize's external debt stocks for private nonguaranteed debt are $83,839,000, much lower than the average of $33,734,699,285.22. Belize ranks 82 out of 91 countries in this attribute.

8. External debt stocks, total (DOD, current US$): Belize's total external debt stocks amount to $1,526,004,210.80, significantly below the average of $73,845,530,111.82. Belize ranks 104 out of 123 countries in this attribute.

Summary

Belize stands out with a relatively low total debt service (% of GNI) and debt service on external debt, both public and publicly guaranteed. However, it faces a challenge with high external debt stocks (% of GNI) compared to the average. This suggests that while Belize's debt repayment burden is manageable currently, the accumulation of external debt could pose a risk to its financial stability in the long term.

Broad Trade Attributes

1. For Trade (% of GDP), Belize's value is 81.63%, slightly below the average of 82.34%. This places Belize at rank 59 out of 163 countries.

2. For Merchandise trade (% of GDP), Belize's value is 52.55%, below the average of 60.01%. Belize is ranked 91 out of 186 countries.

3. In Trade in services (% of GDP), Belize's value stands at 29.12%, above the average of 24.63%. Belize ranks 34 out of 171 countries.

4. Looking at External balance on goods and services (current US$), Belize's value is -130,381,285.24, significantly below the average of 3,405,509,011.13. Belize is ranked 70 out of 163 countries.

5. For External balance on goods and services (% of GDP), Belize's value is -6.37%, below the average of -5.97%. Belize holds the 97th rank out of 163 countries.

Summary

Belize demonstrates a highly trade-dependent economy with Trade accounting for a significant portion (81.63%) of its GDP. While the country excels in Trade in Services, the negative balance in External Balance on Goods and Services stands as a challenge, indicating an imbalance in trade activities. These indicators are crucial as they showcase Belize's reliance on international trade, highlight areas of strength and weakness in its trade performance, and emphasize the importance of addressing trade imbalances for sustainable economic growth.

Net Trade

For Current account balance (BoP, current US$), Belize has a value of -127,919,787.24, which is below the average of 1,443,864,831.49. Belize ranks 78th out of 170 countries in this attribute data.

Regarding Current account balance (% of GDP), Belize's value of -6.25% is below the average of -2.36%. Belize holds the 127th position out of 170 countries in this dataset.

In terms of Net trade in goods and services (BoP, current US$), Belize has -187,195,108.46, less than the average of 2,604,730,003.57. Belize is ranked 76th out of 171 countries in this category.

For Net primary income (BoP, current US$), Belize's value of -58,636,121.98 is below the average of -903,807,529.74. Belize ranks 56th out of 170 countries for this statistic.

Net secondary income (BoP, current US$) has Belize at 117,911,443.20, above the average of -269,227,340.40. Belize is ranked 105th out of 170 countries for this attribute.

With Net trade in goods (BoP, current US$), Belize records -442,678,800.90, below the average of 1,302,831,005.68. Belize ranks 90th out of 171 countries in this dataset.

For Net capital account (BoP, current US$), Belize's value of 14,273,500.00 is below the average of 136,543,824.05. Belize holds the 101st position out of 159 countries included in the data.

Lastly, in Net financial account (BoP, current US$), Belize stands at -98,644,854.23, above the average of -469,840,994.63. Belize ranks 82nd out of 170 countries in this attribute data.

Summary

Belize's macroeconomic indicators show a negative trend in key areas such as current account balance, net trade, and net primary income compared to global averages. Despite ranking in the middle for some categories, the country's below-average performance in major economic indicators signals potential challenges in achieving sustainable economic growth and stability. Addressing these imbalances is crucial for Belize to enhance its economic resilience and competitiveness in the global market.

Broad Export Attributes

"Exports of goods, services and primary income (BoP, current US$)": Belize's value of 722,213,182.64 is significantly below the average of 146,238,908,936.30 (rank 152 out of 170 countries).

"Exports of goods and services (BoP, current US$)": Belize's value of 714,623,553.47 is notably below the average of 122,938,540,059.78 (rank 152 out of 170 countries).

"Exports of goods and services (current US$)": Belize's value of 770,543,107.07 is lower than the average of 129,596,864,610.19 (rank 145 out of 163 countries).

"Exports of goods and services (% of GDP)": Belize's value of 37.63% is just slightly below the average of 38.19% (rank 56 out of 163 countries).

"Goods exports (BoP, current US$)": Belize's value of 288,753,129.07 is significantly below the average of 93,310,581,697.39 (rank 152 out of 171 countries).

"ICT goods exports (% of total goods exports)": Belize's value of 0.05% is significantly below the average of 3.81% (rank 122 out of 142 countries).

Summary

In terms of exports, Belize lags behind the global average across various categories such as goods, services, primary income, and ICT goods. The country's export values are consistently below average, indicating potential challenges in trade competitiveness and economic diversification. These findings are crucial as they highlight areas where Belize may need to focus on improving its export capabilities and expanding into emerging sectors to enhance economic growth and resilience.

Merchandise Exports

1. Merchandise exports (current US$): Belize's merchandise exports amount to $289,000,000, significantly below the attribute average of $89,542,711,229. Belize ranks 164 out of 187 countries in this dataset.

2. Agricultural raw materials exports (% of merchandise exports): Belize's agricultural raw materials exports account for 0.74% of its merchandise exports, well below the average of 2.97%. Belize is ranked 99 out of 151 countries in this category.

3. Food exports (% of merchandise exports): Belize's food exports constitute 93.61% of its merchandise exports, significantly higher than the average of 24.06%. Belize ranks 1 out of 152 countries for this attribute.

4. Fuel exports (% of merchandise exports): Belize's fuel exports represent 1.34% of its merchandise exports, below the average of 13.70%. Belize is ranked 97 out of 147 countries in this aspect.

5. Ores and metals exports (% of merchandise exports): Belize's ores and metals exports make up 0.56% of its merchandise exports, significantly below the average of 9.10%. Belize holds the 131st position out of 152 countries for this attribute.

6. Merchandise exports by the reporting economy, residual (% of total merchandise exports): Belize's residual merchandise exports account for 0.16% of its total merchandise exports, notably lower than the average of 3.20%. Belize is ranked 101 out of 166 countries in this category.

Summary

Belize relies heavily on food exports, which account for the majority of its merchandise exports, while its exports of agricultural raw materials, fuel, ores, and metals are below average. The country has low residual merchandise exports compared to the global average. These indicators are important as they highlight Belize's specialization in food exports and its limited diversification in other sectors, which could impact its economic resilience and vulnerability to external market fluctuations.

Technology Exports

Manufactures exports (% of merchandise exports): Belize's value for this attribute is 3.75%, which is significantly below the average of 42.61%. This places Belize at rank 143 out of 152 countries.

High-technology exports (current US$): Belize's export value in high-technology is $64,217, much lower than the average of $16,655,934,078.80. Belize ranks 147 out of 151 countries in this aspect.

High-technology exports (% of manufactured exports): Belize's proportion of high-tech exports is 0.94%, far below the average of 10.15%. This places Belize at rank 132 out of 150 countries.

Medium and high-tech exports (% manufactured exports): With a value of 0.22%, Belize's exports of medium and high-tech goods are substantially lower than the average of 34.29%. Belize is ranked 148 out of 149 countries in this category.

Summary

Belize exhibits low levels of participation in high-technology exports, with values far below global averages across various metrics. This suggests a limited presence in advanced sectors of the economy and a potential need for diversification and technological upgrading to enhance competitiveness and economic resilience.

Service Exports

Service exports in Belize amount to $425,870,424.39, significantly lower than the average of $28,917,292,503.82. Belize ranks 130th out of 171 countries in this attribute.

ICT service exports in Belize total $46,096,800, well below the average of $4,578,501,153.77. Belize is ranked 111th out of 166 countries for this statistic.

ICT service exports as a percentage of service exports in Belize stand at 10.82%, lower than the average of 11.75%. Belize ranks 62nd out of 166 countries in this category.

Communications, computer, etc. as a percentage of service exports in Belize is 34.40%, below the average of 45.85%. Belize ranks 110th out of 169 countries for this metric.

Transport services as a percentage of service exports in Belize amount to 6.68%, lower than the average of 21.80%. Belize ranks 134th out of 169 countries in this aspect.

Travel services as a percentage of service exports in Belize comprise 58.03%, significantly higher than the average of 26.40%. Belize ranks 18th out of 167 countries for this indicator.

Insurance and financial services as a percentage of service exports in Belize stand at 0.89%, well below the average of 6.46%. Belize is ranked 137th out of 161 countries in this regard.

Summary

Belize exhibits a mixed performance in key macroeconomic indicators related to service exports. While the country's travel services as a percentage of service exports ranks favorably at 18th globally, its ICT service exports and various other service exports metrics fall below the global averages. This underscores the need for Belize to diversify and strengthen its service export offerings to compete effectively in the global market and potentially boost its economic growth and resilience.

Commercial Service Exports

Commercial service exports (current US$): Belize's commercial service exports stand at $379,617,446.90, below the average of $28,508,218,402.80. Belize ranks 130th out of 171 countries in this category.

Travel services (% of commercial service exports): Belize's travel services account for 65.10% of its commercial service exports, well above the average of 27.89%. Belize is ranked 15th out of 167 countries for this metric.

Computer, communications and other services (% of commercial service exports): Belize's services in this category make up 26.41% of its commercial service exports, below the average of 42.44%. Belize ranks 115th out of 169 countries in this aspect.

Insurance and financial services (% of commercial service exports): In Belize, insurance and financial services contribute to just 0.99% of commercial service exports, significantly lower than the average of 6.97%. Belize is ranked 134th out of 161 countries for this indicator.

Transport services (% of commercial service exports): Transport services constitute 7.50% of Belize's commercial service exports, notably lower than the average of 23.37%. Belize's rank in this category is 134th out of 169 countries.

Summary

Belize's commercial service exports are below the global average, with a heavy reliance on travel services which account for a significantly higher percentage compared to other countries. However, the country lags behind in computer, communications, and other services as well as insurance and financial services. This indicates a potential imbalance in Belize's service export portfolio, highlighting the need for diversification to mitigate risks and enhance economic resilience.

Broad Import Attributes

Imports of goods and services (current US$): Belize's value of 900924392.32 is significantly below the average of 126191355599.06, ranking 148 out of 163 countries.

Imports of goods and services (% of GDP): Belize's value of 43.99% is slightly below the average of 44.15%, ranking 64 out of 163 countries.

International tourism, expenditures (% of total imports): Belize's value of 2.44% is notably below the average of 3.98%, ranking 82 out of 131 countries.

ICT goods imports (% total goods imports): Belize's value of 2.86% is well below the average of 6.85%, ranking 120 out of 143 countries.

Goods imports (BoP, current US$): Belize's value of 731431929.97 is significantly below the average of 92007788027.17, ranking 154 out of 171 countries.

Imports of goods and services (BoP, current US$): Belize's value of 901818661.93 is significantly below the average of 120321577988.12, ranking 154 out of 170 countries.

Imports of goods, services and primary income (BoP, current US$): Belize's value of 968044413.08 is significantly below the average of 144514428722.28, ranking 154 out of 170 countries.

Summary

In analyzing Belize's key macroeconomic indicators related to imports, it is evident that the country falls significantly below the global average in various categories such as imports of goods and services (both in total and as a percentage of GDP), international tourism expenditures, and ICT goods imports. This places Belize at relatively lower rankings compared to a large number of countries worldwide. These findings are crucial as they underscore the challenges Belize may face in terms of trade competitiveness, economic diversification, and attracting international tourists, highlighting areas that may require policy interventions and strategic planning for sustainable economic growth and development.

Merchandise Imports

1. For "Merchandise imports (current US$)", Belize's value of 787 million is significantly below the average of approximately 89.39 billion, ranking 166 out of 190 countries.

2. In terms of "Manufactures imports (% of merchandise imports)", Belize's value of 62.16% is slightly below the average of 66.76%, placing it at the 111th position out of 152 countries.

3. The "Agricultural raw materials imports (% of merchandise imports)" in Belize, at 1.31%, is slightly above the average of 1.27%, ranking 61 out of 152 countries.

4. Belize's "Food imports (% of merchandise imports)" stand at 25.65%, significantly higher than the average of 15.89%, securing the 16th place out of 152 countries.

5. "Fuel imports (% of merchandise imports)" for Belize, at 10.23%, are below the average of 11.38%, placing Belize at the 82nd position out of 152 countries.

6. Belize's "Ores and metals imports (% of merchandise imports)" value of 0.51% is well below the average of 2.57%, ranking 139 out of 152 countries.

7. Lastly, "Merchandise imports by the reporting economy, residual (% of total merchandise imports)" indicates that Belize's value of 0.0024% is significantly below the average of 2.51%, positioning Belize at the 164th spot out of 180 countries.

Summary

Belize's macroeconomic indicators reveal a mix of below-average and above-average import values compared to global averages. While the country's merchandise imports are significantly lower than average, indicating a smaller economy in comparison, its high percentage of food imports could signify potential challenges in domestic food production and self-sustainability. Additionally, the relatively low fuel imports suggest efficiency or reliance on alternative energy sources, impacting energy security and environmental sustainability.

Service Imports

Service imports in Belize amount to $170,386,731.96. This is significantly below the average service imports of $27,615,356,170.47, ranking Belize 158th out of 171 countries in this data set.

Communications, computer, etc. make up 35.18% of Belize's service imports, slightly lower than the average of 44.40%. Belize ranks 115th out of 169 countries in this category.

Transport services constitute 37.71% of Belize's service imports, surpassing the average of 32.90%. Belize is ranked 60th out of 169 countries in this aspect.

Travel services represent 12.06% of Belize's service imports, below the average of 14.14%. Belize ranks 78th out of 169 countries for this attribute.

Insurance and financial services account for 15.05% of Belize's service imports, significantly higher than the average of 8.53%. Belize ranks 25th out of 169 countries in this category.

Summary

Belize's service imports are notably lower compared to the global average, placing the country towards the bottom of the list in terms of total service imports. However, it stands out in categories like insurance and financial services, where it surpasses the average significantly, ranking 25th globally. These statistics are crucial as they indicate Belize's relative positioning in the global economy and highlight specific sectors where the country excels or lags behind in international trade.

Commercial Service Imports

Commercial service imports in Belize amount to $155,057,277.84, which is significantly below the average of $27,102,746,128.60. Belize ranks 159th out of 171 countries in this attribute.

Computer, communications, and other services constitute 28.77% of Belize's commercial service imports, below the average of 41.71%. Belize ranks 117th out of 169 countries included.

Insurance and financial services represent 16.54% of Belize's commercial service imports, notably above the average of 8.85%. Belize ranks 22nd out of 169 countries in this category.

Transport services make up 41.44% of Belize's commercial service imports, surpassing the average of 34.71%. In this attribute, Belize ranks 52nd out of 169 countries.

Travel services account for 13.25% of commercial service imports in Belize, slightly below the average of 14.73%. Belize is ranked 71st out of 169 countries in this aspect.

Summary

Belize's commercial service imports are significantly below the global average, with a notable focus on transport services. However, the country lags behind in the share of computer, communications, and other services. The above-average representation of insurance and financial services highlights a potential area of strength for Belize's economy.

These findings are important as they provide insights into Belize's trade dynamics and economic specialization. Understanding the composition of commercial service imports can help policymakers identify sectors for growth and areas where Belize may need to improve its competitiveness on a global scale.

Infrastructure

For the attribute "Air transport, registered carrier departures worldwide," Belize has a value of 130,792.986, which is below the average of 134,365.605. Belize ranks 27 out of 149 countries in this dataset.

Regarding the attribute "Air transport, passengers carried," Belize reports 971,426.138, significantly below the average of 11,848,242.700. In this category, Belize is ranked 71 out of 149 countries.

Summary

Belize has lower than average values for both "Air transport, registered carrier departures worldwide" and "Air transport, passengers carried," ranking 27th and 71st out of 149 countries respectively. These indicators suggest that Belize has room for growth in its air transport sector compared to other countries, which could be crucial for enhancing connectivity, promoting tourism, and stimulating economic development in the country.

Information Technology Infrastructure

Analysis of Key Internet Statistics in Belize:

1. Secure Internet servers: Belize has 52 secure internet servers, below the global average of 458,294. Belize ranks 52 out of 193 countries in this aspect.

2. Secure Internet servers (per 1 million people): With 132,242 secure internet servers per 1 million people, Belize surpasses the average of 14,067. Belize ranks 4 out of 193 countries in this category.

3. Individuals using the Internet (% of population): The percentage of individuals using the internet in Belize is 59.51%, slightly below the global average of 64.77%. Belize ranks 117 out of 180 countries in this metric.

4. Fixed broadband subscriptions: Belize has 36,000 fixed broadband subscriptions, significantly lower than the global average of 6,591,956. Belize ranks 137 out of 185 countries in fixed broadband subscriptions.

5. Mobile cellular subscriptions: Belize has 264,000 mobile cellular subscriptions, far below the average of 42,526,464. Belize ranks 172 out of 193 countries in terms of mobile cellular subscriptions.

Summary

In summary, Belize has a limited number of secure internet servers, but the quantity per 1 million people exceeds the global average significantly. However, the country falls below the global average in terms of individuals using the internet, fixed broadband subscriptions, and mobile cellular subscriptions. These statistics are crucial as they highlight Belize's position in the digital landscape, indicating potential areas for improvement in infrastructure and connectivity to enhance accessibility and participation in the digital economy.

Energy Consumption

In Belize, renewable energy consumption accounts for 30.2% of total final energy consumption. This value is slightly below the global average of 32.18%. Belize is ranked 80th out of 191 countries in this attribute.
Belize emits 687.6 kt of CO2 annually, significantly lower than the global average of 171,895.94 kt. The country holds the 162nd rank out of 188 countries for CO2 emissions.

Summary

Belize has a relatively high renewable energy consumption rate compared to the global average but emits significantly lower CO2 levels annually. These statistics reflect Belize's commitment to sustainability and environmental stewardship, positioning the country favorably in the international community in terms of energy efficiency and carbon footprint.

Government Balance Sheet

- Total reserves (% of total external debt): Belize's total reserves as a percentage of total external debt is significantly below the average of 66.13% (rank 71 out of 102 countries). This indicates potential vulnerability in managing debt obligations.
- Reserves and related items (BoP, current US$): Belize's value for reserves and related items in current US$ is notably lower than the average of $1,924,407,186.58 (rank 79 out of 171 countries). This suggests a relatively smaller financial buffer for balance of payments needs.
- Total reserves minus gold (current US$): Belize's total reserves minus gold in current US$ is substantially under the average of $74,221,588,171.61 (rank 148 out of 161 countries). This implies a limited capacity for currency stabilization and external debt coverage.
- Total reserves (includes gold, current US$): Belize's total reserves including gold in current US$ are far below the average of $85,708,019,773.47 (rank 148 out of 161 countries). This signifies a lower gold reserve holding, which may affect the country's ability to hedge against economic uncertainties.
- Total reserves in months of imports: Belize's total reserves in months of imports stand at 4.31, which is lower than the average of 7.10 months (rank 99 out of 151 countries). This indicates the country may have challenges in financing imports in case of prolonged economic disruptions.

Summary

Belize's total reserves metrics consistently rank below global averages, indicating potential vulnerabilities in managing debt obligations, balance of payments needs, currency stabilization, and import financing. These findings are crucial as they highlight the country's limited financial buffer, reduced capacity to hedge against economic uncertainties, and challenges in financing imports during prolonged economic disruptions.

Taxes

For the attribute "Tariff rate, applied, weighted mean, all products (%)," Belize has a value of 18.69%. This is significantly higher than the average of 5.21%, placing Belize at rank 1 out of 153 countries in terms of tariff rates.

Summary

Belize has a relatively high weighted mean tariff rate of 18.69%, far exceeding the global average of 5.21%. This places Belize at the top rank among 153 countries in terms of tariff rates. This indicates that Belize imposes significant trade barriers, which can impact the cost of imports, foreign investment, and overall economic relationships with other countries.

Top Stats

Ranks in Top Decile For:

Attribute	Rank/Total
Fertilizer consumption (kilograms per hectare of arable land)	13/187
Food exports (% of merchandise exports)	1/152
Travel services (% of commercial service exports)	15/167
Secure Internet servers (per 1 million people)	4/193
Tariff rate, applied, weighted mean, all products (%)	1/153

Ranks in Bottom Decile For:

Attribute	Rank/Total
Death rate, crude (per 1,000 people)	176/192
Military expenditure (current USD)	141/149
Armed forces personnel, total	154/164
Natural gas rents (% of GDP)	87/96
Industrial design applications, resident, by count	106/113
GDP, PPP (current international $)	163/181
GNI, PPP (current international $)	163/181
Final consumption expenditure (current US$)	149/159
General government final consumption expenditure (current US$)	147/158
Household and NPISHs Final consumption expenditure (current US$)	147/158
External debt stocks, private nonguaranteed (PNG) (DOD, current US$)	82/91
Manufactures exports (% of merchandise exports)	143/152
High-technology exports (current US$)	147/151
Medium and high-tech exports (% manufactured exports)	148/149
Imports of goods and services (current US$)	148/163
Goods imports (BoP, current US$)	154/171
Imports of goods and services (BoP, current US$)	154/170
Imports of goods, services and primary income (BoP, current US$)	154/170
Ores and metals imports (% of merchandise imports)	139/152
Merchandise imports by the reporting economy, residual (% of total merchandise imports)	164/180
Service imports (BoP, current US$)	158/171
Commercial service imports (current US$)	159/171
Total reserves minus gold (current US$)	148/161
Total reserves (includes gold, current US$)	148/161