CARICOM Member States becoming increasingly important trade partners for Belize

(Photo via The Reporter)
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Although the USA and the UK are said to be Belize’s top trading partners, the biggest declines in export sales so far this year were recorded for those destinations. Meanwhile, CARICOM countries are becoming increasingly important trade partners for Belize, particularly as they are now buying more of Belize’s main exports. All of the crude Belize sells now goes to Barbados, although exports were down for the first quarter.

The Statistical Institute of Belize (SIB) has published details on its website. The data indicates that of the nearly $23 million in export earnings Belize garnered from CARICOM for the first three months of the year, $8.7 million was from Barbados, $7 million from Jamaica and $5.9 million from Trinidad and Tobago. However, there was a fall in earnings from all three countries, with the most substantial decline in monetary value being for exports to Barbados.

Trinidad and Jamaica both buy sugar, and orange and grapefruit concentrate from Belize. In addition to the citrus concentrate juices, Barbados buys crude oil from Belize. Citrus concentrate juices are also the main domestic export which Guatemala takes from Belize.

Read more at: The Reporter

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