flag Belize Belize: Trade Profile

Foreign Trade in Figures

International trade represents around 107% of the country’s GDP (World Bank, latest data available). Whereas imports from CARICOM (Caribbean Community and Common Market) are exempt from import duties, other countries have to pay relatively high customs taxes: import duties range from 0% to 120%, with an average rate of 20% applied to most goods. Moreover, import licenses are mandatory to protect certain national industries. According to the Statistical Institute of Belize, in 2024, the country’s main exports were sugar (USD 182.3 million), bananas (USD 82.4 million), orange concentrates (USD 30.7 million), molasses (USD 22.6 million), and lobster tails (USD 19.2 million), while imports were led by machinery and transport equipment (21% of total imports), mineral fuels (14.3%), manufactured goods (13.5%), and food and live animalss (11.3%).

The country's main export partners in 2024 were the United Kingdom (BZD 171.2 million, 37.2% of the total), the U.S. (BZD 102.1 million, 22.2%), Trinidad and Tobago (BZD 37.0 million, 8.0%), Ireland (BZD 24.5 million, 5.3%), and Jamaica (BZD 19.6 million, 4.3%). In contrast, imports came chiefly from the U.S. (BZD 1,282.9 million, 44.1%), China (BZD 259.6 million, 8.9%), Mexico (BZD 236.4 million, 8.1%), Guatemala (BZD 234.8 million, 8.1%), and Trinidad & Tobago (BZD 47.6 million, 1.6% - data Statistical Institute of Belize). Despite the discovery of a large oilfield in the northern part of the country, Belize relies on other members of Petrocaribe (primarily Central American countries, Mexico, and Venezuela) for its energy supply. Belize also relies heavily on the U.S., leading to commercial vulnerability due to a lack of diversification. Belize's first National Trade Policy, is aligned with the Government’s development strategies, such as Horizon 2030 and the Growth and Sustainable Development Strategy, and seeks to reduce the cost of doing business, enhance competitiveness, develop efficient production systems and capacities, improve trade performance for goods and services, and diversify production, which should significantly contribute to a competitive economy and sustainable socio-economic development. Foreign trade is subject to fluctuations in global prices of raw materials and depends on the longevity of certain trade agreements, especially with the United States, the European Union (sugar cane), and the United Kingdom (bananas).

Belize's merchandise trade balance is structurally in deficit. According to data by the national Statistical Institute, exports of goods totalled BZD 460.4 million in 2024, up by 12.7% year-on-year, while imports grew at a slower pace (+8.5%), reaching BZD 2.91 billion. Preliminary figures show that merchandise imports from January to May 2025 totalled BZD 1.159 billion, down 6.2% (BZD 76.7 million) from BZD 1.236 billion the previous year. Merchandise exports for the same period fell 2.4% to BZD 161.7 million, a decrease of BZD 4.0 million from BZD 165.6 million.

 
Foreign Trade Indicators 20202021202220232024
Imports of Goods (million USD) 7871,0611,3811,3411,403
Exports of Goods (million USD) 289422518488460
Imports of Services (million USD) 155275327283333
Exports of Services (million USD) 3805748139851,110
Imports of Goods and Services (Annual % Change) -233210-2n/a
Exports of Goods and Services (Annual % Change) -30361411n/a
Trade Balance (million USD) -443-534-706-777-880
Foreign Trade (in % of GDP) 8299109107n/a
Imports of Goods and Services (in % of GDP) 44525551n/a
Exports of Goods and Services (in % of GDP) 38485355n/a

Source: WTO – World Trade Organisation ; World Bank - Latest available data.

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Main Partner Countries

Main Customers
(% of Exports)
2024
United Kingdom 30.7%
United States 30.1%
Trinidad and Tobago 6.6%
Honduras 5.2%
Ireland 4.3%
See More Countries 23.1%
Main Suppliers
(% of Imports)
2024
United States 45.0%
China 17.0%
Mexico 8.5%
Guatemala 8.3%
Trinidad and Tobago 1.6%
See More Countries 19.6%

Source: Comtrade, Latest Available Data

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Main Products

0.3 bn USD of products exported in 2024
Cane or beet sugar and chemically pure sucrose, in...Cane or beet sugar and chemically pure sucrose, in solid form 32.2%
Bananas, incl. plantains, fresh or driedBananas, incl. plantains, fresh or dried 14.9%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 7.9%
Fruit juices, incl. grape must, and vegetable...Fruit juices, incl. grape must, and vegetable juices, unfermented, not containing added spirit, whether or not containing added sugar or other sweetening matter 7.3%
Cigars, cheroots, cigarillos and cigarettes of...Cigars, cheroots, cigarillos and cigarettes of tobacco or of tobacco substitutes 5.2%
See More Products 32.5%
1.5 bn USD of products imported in 2024
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 12.5%
Cigars, cheroots, cigarillos and cigarettes of...Cigars, cheroots, cigarillos and cigarettes of tobacco or of tobacco substitutes 3.6%
Motor vehicles for the transport of goods, incl....Motor vehicles for the transport of goods, incl. chassis with engine and cab 2.0%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 1.6%
Footwear with outer soles of rubber, plastics,...Footwear with outer soles of rubber, plastics, leather or composition leather and uppers of textile materials (excl. toy footwear) 1.6%
See More Products 78.7%

Source: Comtrade, Latest Available Data

 

To go further, check out our service Import controls and Export controls

To go further, check out our service Import-Export Flows

 
 

Main Services

Source: United Nations Statistics Division, Latest Available Data

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List of tariffs and local taxes that apply to your product on our service Customs Duties

 

Trade Compliance

International Conventions
Member of the World Trade Organization (WTO)
International Economic Cooperation
Member of Caribbean Common Market (CARICOM)

Member of Free Trade Area of the Americas (FTAA)

Useful Resources
Belize Customs and Excise Department
National Organisation of Intellectual Property
The BELIPO, Belize Intellectual Property Office .
 
 
 

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Latest Update: October 2025