Belize Key Economic Statistics 2012

KEY ECONOMIC STATISTICS 2012 GROSS DOMESTIC PRODUCT (GDP) The Belizean economy grew by 5.3% in 2012, recording its best showing in nine years. While there was marked improvement in the economic performance of virtually all sectors when compared to 2011, the main drivers of the growth were Agriculture and Wholesale and Retail Trade. The Agricultural sector was boosted by increases in production of bananas, sugarcane and citrus. Wholesale and Retail Trade activities rose by 7.1%, underpinned by heightened consumer-demand, which was evidenced by a 6.1% increase in merchandise imports. OAnnual Growth Rates for GDP (2007 - 2012) 5.3% t OGDP Percentage Change by Activity 2012 vs 2011 6.0% 5.3% 5.0% 3.2% Producers of Government services 3.99 3.6% 4.0% 1.4% Other private services exc. FISIM 1) 2.7% 1.3% 3.0% 4.4% Transport and communication 5.7% 2.0% 1,9% 4.7% Hotels and restaurants 1.0% 5.4% 1.2% Wholesale and retail trade; repair 3.9% 0.0% 0.0% 7.1% 2007 2008 2009 2010 2011 2012 -1.7% Construction YEAR 8.2% 1.5% Electricity and water O Agriculture, hunting and forestry O Wholesale and retail trade; repair -8.1% 1.7% Manufacturing (incl. mining and quarrying) HEIGHTENED CONSUMER -5.0% 42.7% DEMAND DURING 2012 2.7% Fishing 22.5% 12.1% 17.5% -5.5% Agriculture, hunting and forestry. (7.1% 6.1% 27.7% -10 -5 10 15 20 25 30 WHOLESALE AND MERCHANDISE RETAIL TRADE BANANA CITRUS PRODUCTION IMPORTS SUGARCANE PRODUCTION PRODUCTION TRADE (IMPORT / EXPORT) The value of Belize's merchandise imports grew by 6.1% to $1.76 billion in 2012. Almost two-thirds of this increase was due to purchases of solar panels and machinery used in petroleum exploration. Spending on gasoline, which rose by 16.9% to $122.5 million, also contributed considerably to the increase in import spending. Domestic export earnings were virtually unchanged when compared to 2011, decreasing by a mere one-tenth of a percentage point to $681.6 million. This resulted as a steep decline in earnings from crude petroleum (136.2%) was offset by significant increases in agricultural exports, most notably bananas (139.9%) and citrus concentrate (138.8%). O The % change of major exported products between 2011 and 2012. O Value of Belize Imports by Section of the S.I.T.C (2011-2012) BANANAS ORANGE CONCENTRATE 2011 2012 40.5% 39.9% SUGAR ($) ($) -40.9% 166.3 m 193.2 m Food and Live Animals 30.0% 31.6 m Beverages and Tobacco 40.2 m 19.7 m Crude Materials 17.1 m PAPAYAS 264.8 m Mineral Fuels & Lub. 286.4 m OTHER 11.1 m Oils and Fats 14.2 m EXPORT 146.7 m Chemical Products 159.4 m 203.4 m Manufactured goods 203.1 m -36.2% 27.4% 252.0 m Mach. & Trans. Eqt 319.0 m 106.6 m Oth. Manufacturers 106.2 m CRUDE OIL 2,537 Commodities n.e.s 3.3 m 387.5 m Commercial Free Zone 351.3 m 26.5% 69.2 m Export Processing Zones 64.9 m 15.5% 3.6 m Personal Goods 5,4 m 24.8% SAWN MARINE 23.8% WOOD 1,662.6 m Total 1,763.7 m PRODUCTS MOLASSES * Figures are represented in million dollars GRAPEFRUIT CONCENTRATE 2012 INFLATION RATE The Consumer Price Index (CPI) measures the average change in the prices of a fixed basket that includes a wide range of goods and services frequently purchased by households. During 2012, a national inflation rate of 1.3% was recorded, driven mainly by increases in prices for "Food and Non-Alcoholic Beverages" (12.4%), "Transport" (12.3%), "Health" (14.1%), and "Recreation and Culture" (13.6%). Items that contributed to the increase included poultry, gasoline and diesel, surgery fees, hospital accommodation, and nightclub admission fees. 2012 Inflation Rates by Major Categories 1.3% 1 -0.7% FURNISHING, +0.4% HOUSEHOLD +2.4% +0.1%, |-1.1% HOUSING, WATER, ELECTRICITY, EQUIP. AND ROUTINE +3.6%/ +1.1% +3.1% FOOD AND ALCOHOL NON- CLOTHING +4.1% -0.7% HOUSEHOLD MISCELLANEOUS RESTAURANTS AND НОТELS BEVERAGES +2.3% RECREATION -0.7% ALCOHOLIC AND GAS, AND OTHER FUELS MAINTENANCE GOODS AND TOBACCO FOOTWARE HEALTH TRANSPORT COMMUNICATION AND BEVERAGES EDUCATION AND SERVICES CULTURE STATISTICAL INSTITUTE OF BELIZE ь www.statisticsbelize.org.bz DESIGNED BY: IBELMOPAN GDP Growth Percentage (%)