Imports and Exports both down for last Quarter

When it comes to imports, according to SIB figures, Belize’s total imports for the month of November 2017 were valued at $154.5 million. This was a decrease of 7.7 percent or $12.8 million from imports for November 2016, which totaled $167.3 million. The ‘Machinery and Transport Equipmenvlcsnap-2018-01-04-14h20m11s271 vlcsnap-2018-01-04-14h20m16s236 vlcsnap-2018-01-04-14h20m19s974 vlcsnap-2018-01-04-14h20m26s078 vlcsnap-2018-01-04-14h20m34s969 vlcsnap-2018-01-04-14h20m39s516 vlcsnap-2018-01-04-14h20m48s907t’ category saw the largest drop for the month, falling by $6.1 million to $33.8 million, as a result of reduced purchases of computer components coupled with the fact that, in November of last year, imports for this category included a one-time purchase of dredging equipment. Furthermore, there was no diesel fuel imported for the month of November 2017 and, as a result, the ‘Mineral Fuels and Lubricants’ category declined. The category of ‘Other Manufactures’ also saw a notable reduction for the month due to a fall in imports of gold jewelry, plastic laboratory items, and assorted toys. ‘Chemical Products’ similarly declined as a result of decreased purchases of paints, vaccines and insect repellants.  Imports of ‘Food and Live Animals’ fell as well due mostly to the fact that no malt or turkeys were imported into the country in November 2017. On the exports side,  a decrease of 11.4 percent was primarily attributable to reduced sales of black-eyed peas for the month, as earnings from that commodity fell sharply from $1.8 million in November 2016 to $0.3 million in November 2017. Earnings from Belize’s major commodities saw only relatively small changes during November 2017 when compared to the same month of last year. Marine exports declined slightly as did citrus exports. The only major export to have recorded an increase was bananas. Merchandise exports for the period January to November 2017 was up 12 percent when compared to the same period last year.   Two of Belize’s major export commodities saw substantial increases over the eleven-month period. Sugar, which accounted for more than a third of the country’s export earnings, and bananas.

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