SIB says economy on rebound

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In Belize’s economy grew by 2.1% in the first quarter of 2017. According to SIB , Belize produced goods and services totaling 748.2 million dollars which an increase of 15.4million dollars  from $732.8 in the first quarter of 2016. During this period, the banana industry grew by more than 34%. Sugarcane delivery increased as well. Livestock production with cattle saw an increase of 70% while poultry rose by 12%.  For the period, imports were down by 4.8% while exports increased by 28.9%.  Imports were down primarily due to a significant decrease in the importation of machinery and transport equipment as well as less telecommunication parts. There was also a smaller quantity of diesel, regular and premium fuels imported. Importation of beverages and tobacco also fell for the month by 1.6 million dollars.  As for exports, that went up by 28.9%. Sugar was the most dominant among the major exports during the month of ay 2017, as revenue from sugar contributed more than half of total export earnings. The month of May was the first since the start of the year in which an increase in citrus exports was recorded. Bananas and marine products saw  decrease.   How does it all relate to the consumer? Well, according to the Consumer Price Index numbers, prices were up by 0.7% in May 2017. The greatest factor in that was the 8.3% increase in transportation costs. Also up  is prices on housing, water, and gas. That category increased by 0.3%. Even though all other categories, including food and non alcoholic beverages were down, the transportation cost increase caused n overall CPI increase.vlcsnap-00412 vlcsnap-00411 vlcsnap-00410 vlcsnap-00409

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