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.
Simultaneously, Belize’s trade sector experienced a notable downturn. Imports for April 2025 fell by 16% compared to the same month last year. This marked decline was observed across several categories, including machinery, manufactured goods, and fuels. The drop in imports may reflect weakened domestic demand or ongoing disruptions in global supply chains, both of which have implications for local businesses and consumers.
Of even greater concern is the steep decline in domestic exports, which fell by 21.9% year-over-year. Key export commodities, including sugar, citrus, and marine products, experienced reduced shipments, which significantly contributed to the overall decline in exports. This contraction in exports affects national revenue and has the potential to impact employment and income, particularly in the agriculture and marine sectors.
Belmopan City and San Pedro Town experienced the highest increases in consumer prices, both recording an inflation rate of 3.5% in April 2025. The findings from the SIB indicate that the economy is under strain, marked by rising living costs, declining trade volumes, and a drop in consumer sentiment. Additionally, the Consumer Confidence Index fell by 3.8% in April, reflecting a decrease in optimism regarding the economic outlook.
Economic analysts warn that if these trends persist, they could constrain Belize’s growth prospects and put additional pressure on public finances. As the country grapples with these challenges, government officials and private sector leaders will closely monitor the situation for signs of recovery or further instability.
For now, Belizeans face a tightening economic landscape marked by higher prices and slowing trade.