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.

Ease of doing business

135th

out of 190 countries (World Bank, 2019)

Currency

Belize dollar

Business languages

English, Spanish, Belize Creole

You may need a translator

GDP per capita

$4,862

UK is $41,030 (IMF, 2019)

GDP per capita

3.0%

(IMF, 2019)

Time zone

GMT -6

Next steps

DIT can advise you on doing business abroad, and help put you in touch with other people who can help such as lawyers and distributors.