Economics, Trade & Grain Markets in Belize

Belize is a small and highly diverse Central American country, with a total territory of almost 23.000 square kilometers, which is somewhat smaller than Massachusetts. Geographically, Belize is dominated by flat and humid coastal plains. Similarly, Belize is the only Central American country without a Pacific Ocean outlet. However, the country does have an important Atlantic and Caribbean coastline. With a total population of almost 354.000 citizens, Belize is amongst the least populous countries in the world. At the same time, the majority of the population in Belize, approximately 55%, lives in a rural setting as opposed to an urban one.

Currently, Belize’s annual gross domestic product (GDP) is of about US$3 billion. Furthermore, its national economy has experienced sluggish economic growth in recent years. Nevertheless, Belize remains a key tourism and retirement destination within Central America. The Belizean national economy is divided into 12% agriculture, 15% manufacturing, and 73% services. However, the agriculture industry utilizes about 7% of the national territory, while another 61% is forested. Likewise, the Belizean agricultural industry employs some 10% of the national labor force, while manufacturing employs about 18% and services employ another 72%.

In terms of natural resources, Belize has arable land, lumber & timber, fish, and hydropower. Within manufacturing, Belize’s industry is focused on garment production, food processing, construction, and petroleum extraction. Meanwhile, the country’s agricultural industry has as main products bananas, cacao, citrus, sugar, shrimp, fish, and wood. In terms of trade, Belize’s main partners are the United States, the United Kingdom, Mexico, Trinidad and Tobago, Cuba, and Guatemala, amongst others. Likewise, Belize takes part in the Central American Integration System (SICA), which seeks to foment economic and political cooperation as well as harmonize trade regulations and agricultural standards for the region. However, Belize is not a member of the Dominican Republic-Central America Free Trade Agreement (CAFTA-DR) with the US. Joining CAFTA-DR would further increase trade between Belize, the US, and Central America, as well as expand export opportunities for the country’s domestic industry. This article explores the status of agricultural markets in Belize.

Economics, Trade & Grain Markets in Belize

Throughout recent years, the average per capita protein intake of animal origin amongst the Belizean population has been of approximately 28 grams daily. Meanwhile, cereals, roots, and tubers supply about 40% of the average food energy intake in Belize. Simultaneously, land use in Belize has evolved enormously throughout the last half century. During the early 1960s, pastures and meadows in Belize covered some 37.000 hectares, while arable land covered another 37.000 hectares and permanent crops accounted for approximately 6.000 hectares. In 2014, pastures and meadows in Belize accounted for some 50.000 hectares, while arable land represented about 78.000 hectares and permanent crops covered approximately 32.000 hectares.

Similarly, the domestic cereals market in Belize has grown substantially throughout the last half century. During the early 1960s, Belize devoted approximately 7.000 hectares of land to the production of cereals and produced an average of over 4.000 metric tons annually. Meanwhile, in 2014, Belize devoted over 26.000 hectares of land to cereals production and yielded some 95.000 metric tons.

(Read more about Agriculture and Mining in the South African Economy)