Data released by the Statistical Institute of Belize (SIB) for October 2023 indicates a 28% decline in domestic exports. Major export categories experienced reduced earnings during the month including banana exports which saw a slight decrease from $8.5 million to $8.2 million.
On the positive side, earnings from citrus products increased by almost $0.3 million, growing from $0.2 million in October 2022 to $0.5 million in October 2023, driven by increased exports of orange concentrate. The struggles in traditional export sectors pose economic challenges for Belize, and the performance of these sectors will likely be closely monitored in the coming months.
Source: www.breakingbelizenews.com