Business & Economy
SIB Reports Consumer Prices Rise and Exports Fall
The Statistical Institute of Belize (SIB) released its latest economic data near the end of May, painting a challenging picture for the national economy. Belizean consumers are feeling the effects of rising prices, while trade activity has slowed considerably. According to the SIB's April 2025 report, released on May 29th, the national Consumer Price Index (CPI) rose by 1.3% compared to April 2024. This indicates that the cost of everyday goods and services, such as groceries and transportation, continues to increase, putting pressure on household budgets nationwide.
Business & Economy
“Buy Belizean” Campaign launched to promote Local Economic Growth
The Government of Belize, through the Office of the Prime Minister and the Belize Trade and Investment Development Service (BELTRAIDE), recently launched a national initiative aimed at boosting local economic activity and supporting Micro, Small, and Medium Enterprises (MSMEs). The "Buy Belizean" campaign and its innovative Loyalty Program Passport were soft-launched on Friday, May 30th, during the National Agriculture and Trade Show (NATS) in Belmopan.
Business & Economy
National Assembly Concludes Three-Day Debate on 2025–2026 Budget
The National Assembly of Belize concluded its three-day debate on the 2025–2026 national budget on Wednesday, May 28, following sessions at the George Price Center in Belmopan. The discussion centered on the country’s economic progress, fiscal plans, and political differences shaping the government's development strategy for the upcoming fiscal year. The debate began on Monday, May 26, with several members of the House of Representatives addressing national priorities, including economic recovery, infrastructure development, healthcare, education, and public service delivery.
Business & Economy
San Pedro Artisans continue reporting successful Market Days at Central Park; concern remains over relocation of Artisan Market
San Pedro’s Central Park artisan market days have become a vibrant showcase of Belizean creativity and a valuable boost to both local artisans and the island’s tourism economy. The most recent market day, a two-day event held this month on May 22nd and 23rd, once again transformed the park into a bustling hub of activity, where handcrafted jewelry, textiles, wood carvings, and unique souvenirs were displayed, drawing both locals and visitors.
Business & Economy
Belize Postal Service Faces Backlash Over Sharp Increase in International Shipping Rates
The Belize Postal Service (BPS) is facing criticism from customers following significant increases in international shipping rates. Effective May 12, 2025, BPS implemented new pricing for international letters and parcels, sparking concerns from San Pedro Town residents and business personnel about affordability and service value.
Business & Economy
Bowen and Bowen adjusts handling fees for the Cayes; announces beer shortages
On May 6th, Bowen and Bowen issued two separate press releases announcing an increase in handling fees for their products distributed in Caye Caulker and San Pedro Town, Ambergris Caye. The company, which distributes beverages and other products, also reported a temporary disruption in beer supply following an unexpected power outage on May 5th. This outage stressed their control system, leading to equipment failure and affecting beer production in glass bottles.
Business & Economy
Downtown businesses report a slow crowd for Easter
Entrepreneurs in downtown San Pedro, Ambergris Caye, have observed that the popular Easter celebrations on the island are changing. According to some business owners who spoke about the recent Easter weekend, the once-crowded downtown and beach parties along the eastern coast seem to be fading. They noted that more visitors are now gravitating toward the popular Secret Beach on the island's northwest side or other destinations in the country.
Business & Economy
US Government pauses reciprocal tariffs on most countries for 90 days
On Wednesday, April 9th, the United States announced a 90-day pause on the newly implemented reciprocal tariff rates, which included a 10% tariff on imports from various trade partners, including Belize. President Donald Trump's administration clarified that China would not receive any exemptions and is facing steeper tariff rates of up to 125%. Meanwhile, the Government of Belize (GOB) has consulted with stakeholders regarding the U.S. tariff policy.
Business & Economy
New 10% tariff on Belizean imports to the USA
In a significant move marking the most extensive tariff initiative by the U.S. in decades, President Donald Trump announced "kind" reciprocal tariffs affecting over 180 countries, including Belize, which will face a 10% tariff on its imports to the U.S. This announcement has major implications for global trade and could potentially reshape economic relationships between the U.S. and its trading partners.
Business & Economy
SIB reports a decrease in imports and an increase in exports
In a recent economic update, the Statistical Institute of Belize (SIB) reported a significant decrease in imports, accompanied by an increase in exports, for the first two months of 2025. As of February 2025, Belize's imports decreased by 7.8%, totaling $461 million compared to $499.8 million during the same period last year. In contrast, exports increased by 7.7%, reaching $40.4 million, up from $37.5 million in the first quarter of 2024. This shift reflects a positive trend in Belize's trade balance, which could strengthen the country's economic resilience.
Business & Economy
New World Screwworm Cases continue to climb across Belize
Since January, Belize has been facing a rapid increase in cases of New World Screwworm (Cochliomyia hominivorax), with the outbreak spreading beyond its initial containment in the Toledo District. By March 21st, authorities confirmed 33 cases across multiple districts, including Cayo, Belize District, and Orange Walk. This shows a significant rise from the eight cases reported in February, indicating a growing threat to the country's livestock sector.
