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Belize

Introduction to Belize

Territorial disputes between the UK and Guatemala delayed the independence of Belize (formerly British Honduras) until 1981. Guatemala refused to recognize the new nation until 1992. Tourism has become the mainstay of the economy. The country remains plagued by high unemployment, growing involvement in the South American drug trade, and increased urban crime.

Government

Capital:

Belmopan

Independence:

21 September 1981 (from UK)

National holiday:

Independence Day, 21 September (1981)

Economy

Economy overview:

In this small, essentially private enterprise economy the tourism industry is the number one foreign exchange earner followed by cane sugar, citrus, marine products, bananas, and garments. The government's expansionary monetary and fiscal policies, initiated in September 1998, led to GDP growth of 6.5% in 1999, 10.8% in 2000, 4.6% in 2001, and 3.7% in 2002. Major concerns continue to be the sizable trade deficit and foreign debt. A key short-term objective remains the reduction of poverty with the help of international donors.

GDP:

purchasing power parity - id=mce_marker.28 billion (2004 est.)

GDP - composition by sector:

agriculture: 22.7%
industry: 24.5%
services: 52.8% (2004 est.)

Agriculture products:

bananas, coca, citrus, sugar; fish, cultured shrimp; lumber; garments

Industries:

garment production, food processing, tourism, construction

Transportation

Highways:

total: 2,872 km
paved: 488 km
unpaved: 2,384 km (1999 est.)

Waterways:

825 km (navigable only by small craft) (2004)

Ports and harbors:

Belize City, Big Creek, Corozol, Punta Gorda

Merchant marine:

total: 336 ships (1,000 GRT or over) 1,015,270 GRT/1,336,890 DWT
registered in other countries: 25 (2003 est.)
by type: bulk 13, cargo 240, chemical tanker 11, combination bulk 4, combination ore/oil 1, container 10, multi-functional large load carrier 1, petroleum tanker 27, refrigerated cargo 18, roll on/roll off 8, short-sea/passenger 1, specialized tanker 2
foreign-owned: Bahamas 2, Belgium 1, British Virgin Islands 11, Cambodia 6, China 67, Cuba 2, Cyprus 1, Ecuador 1, Estonia 8, Germany 5, Greece 2, Grenada 1, Honduras 1, Hong Kong 27, Indonesia 4, Italy 2, Japan 5, Jordan 1, South Korea 13, Latvia 5, Liberia 2, Malaysia 4, Malta 1, Isle of Man 1, Marshall Islands 16, Mexico 1, Netherlands 1, Nigeria 2, Panama 15, Philippines 4, Portugal 1, Russia 9, Saint Vincent and the Grenadines 3, Singapore 9, Spain 6, Switzerland 2, Taiwan 1, Thailand 3, Tunisia 1, Turkey 2, Ukraine 3, United Kingdom 1, United States 3, Yemen 1

Airports:

43 (2003 est.)

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