Imports Almost Double, Exports in Steep Decline

Also on the brighter side, this month Belize’s imports have almost doubled compared to this time period last year.  In June of 2020, Belize exported one hundred and three million dollars worth of goods, while June 2021 saw one hundred and eighty-nine million dollars in exports. So, what changed?  The Commercial Free zone reopening brought in thirty-four million dollars worth of goods. The importation of manufactured goods doubled, while the importation of beverages and tobacco more than quadrupled for the period.  On a larger scale, imports increased by nineteen percent over the last six months, compared to the same period in 2020.  On the other hand, things did not look as good for the export market. In fact, exports were down by thirty-three percent in June of 2021, compared to June 2020.  Earnings from sugar, marine products, molasses and bananas all saw decreases. Overall, exports for the first six months of 2021 were up by nine million dollars, compared to the first six months of 2020.