adopted 1981; as a Commonwealth country, in addition to the national anthem, "God Save the Queen" serves as the royal anthem (see United Kingdom)
Economy ::Belize
Economy - overview:
In this small, essentially private-enterprise economy, tourism is the number one foreign exchange earner followed by exports of marine products, citrus, cane sugar, bananas, and garments. The government's expansionary monetary and fiscal policies, initiated in September 1998, led to sturdy GDP growth averaging nearly 4% in 1999–2007, though growth slipped to 3.8% in 2008, 0% in 2009, and 1.5% in 2010 as a result of the global slowdown, natural disasters, and the drop in the price of oil. Oil discoveries in 2006 bolstered economic growth. Exploration efforts continue and production increased a small amount in 2009. Major concerns continue to be the sizable trade deficit and heavy foreign debt burden. In February 2007, the government restructured nearly all of its public external commercial debt, which helped reduce interest payments and relieved some of the country's liquidity concerns. A key objective remains the reduction of poverty and inequality with the help of international donors.
GDP (purchasing power parity):
$2.652 billion (2010 est.) country comparison to the world: 180 $2.613 billion (2009 est.)
$2.613 billion (2008 est.)
note: data are in 2010 US dollars
GDP (official exchange rate):
$1.431 billion (2010 est.)
GDP - real growth rate:
1.5% (2010 est.) country comparison to the world: 166 0% (2009 est.)
3.6% (2008 est.)
GDP - per capita (PPP):
$8,400 (2010 est.) country comparison to the world: 120 $8,500 (2009 est.)
$8,700 (2008 est.)
note: data are in 2010 US dollars
GDP - composition by sector:
agriculture: 29%
industry: 16.9%
services: 54.1% (2008 est.)
Labor force:
120,500 country comparison to the world: 179 note: shortage of skilled labor and all types of technical personnel (2008 est.)
Labor force - by occupation:
agriculture: 10.2%
industry: 18.1%
services: 71.7% (2007 est.)
Unemployment rate:
13.1% (2009) country comparison to the world: 137 8.2% (2008)
Population below poverty line:
33.5% (2002 est.)
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Investment (gross fixed):
26.2% of GDP (2010 est.) country comparison to the world: 37
Inflation rate (consumer prices):
4.1% (2010 est.) country comparison to the world: 118 −1.1% (2009 est.)
Central bank discount rate:
12% (31 December 2009) country comparison to the world: 31 12% (31 December 2008)
Commercial bank prime lending rate:
14.08% (31 December 2009 est.) country comparison to the world: 53 14.14% (31 December 2008 est.)
Stock of narrow money:
$389.5 million (31 December 2010 est) country comparison to the world: 161 $336.5 million (31 December 2009 est)
Stock of broad money:
$1.351 billion (31 December 2010 est.) country comparison to the world: 150 $1.084 billion (31 December 2009 est.)
Stock of domestic credit:
$1.291 billion (31 December 2010 est.) country comparison to the world: 141 $1.036 billion (31 December 2009 est.)
Market value of publicly traded shares:
$NA
Agriculture - products:
bananas, cacao, citrus, sugar; fish, cultured shrimp; lumber
Industries:
garment production, food processing, tourism, construction, oil
Industrial production growth rate:
1.4% (2010 est.) country comparison to the world: 142
Electricity - production:
213.5 million kWh (2007 est.) country comparison to the world: 176
Electricity - consumption:
198.5 million kWh (2007 est.) country comparison to the world: 177
Electricity - exports:
0 kWh (2008 est.)
Electricity - imports:
248.4 million kWh (2005)
Oil - production:
3,990 bbl/day (2009 est.) country comparison to the world: 98
Oil - consumption:
7,000 bbl/day (2009 est.) country comparison to the world: 157
Oil - exports:
2,260 bbl/day (2007 est.) country comparison to the world: 111
Oil - imports:
7,204 bbl/day (2007 est.) country comparison to the world: 146
Oil - proved reserves:
6.7 million bbl (1 January 2010 est.) country comparison to the world: 93
Natural gas - production:
0 cu m (2008 est.) country comparison to the world: 96
Natural gas - consumption:
0 cu m (2008 est.) country comparison to the world: 206
Natural
