Exporting to Belize

Located on the north eastern coast of Central America, Belize is bordered to the north west by Mexico, on the south and west by Guatemala, and to the east by the Caribbean Sea. In the year to June 2019, the total UK exports to the country amounted to £20 million (ONS, 2019).

An improving economy

Real GDP growth in Belize stood at 3% in 2018, and this upward trend is expected to continue over the coming years (IMF, 2019). This is good news for UK exporters, as it should lead to an increase in spending power for consumers in the country.

Import growth

Imports into Belize grew by 7.6% in 2018 and this trend is forecasted to go on, with a figure of 5.6% predicted for 2019 and 8.9% the year after (IMF, 2019). In 2018, the top services imported from the rest of the world by Belize were transport (28.4%), travel (25.3%) and government goods and services (7.3%) (ITC Trade Map, 2019). Therefore, as a UK business exporting these services, Belize could be a good market for you.