English 62.9, Spanish 56.6, Creole 44.6, Maya 10.5, German 3.2, Garifuna 2.9, other 1.8, unknown 0.5
Economic Overview
Key economic indicators for Belize
GDP:
$5.12 billion
GDP per Capita:
$12,500
GDP Growth:
1.15%
Inflation:
4.39%
Unemployment:
8.26%
Public Debt:
99% of GDP
Credit Rating:
CCC+ (2020)
Political System
Governance structure of Belize
Government Type:
parliamentary democracy (National Assembly) under a constitutional monarchy; a Commonwealth realm
Head of State:
King CHARLES III (since 8 September 2022); represented by Governor-General Froyla TZALAM (since 27 May 2021)
Head of Government:
Prime Minister John BRICEÑO (since 12 November 2020)
Judiciary:
Supreme Court of Judicature (consists of the Court of Appeal with the court president and 3 justices, and the Supreme Court with the chief justice and 10 justices); note - in 2010, Belize acceded to the Caribbean Court of Justice as the final court of appeal, replacing that of the Judicial Committee of the Privy Council in London
Administrative Divisions:
6 districts; Belize, Cayo, Corozal, Orange Walk, Stann Creek, Toledo
Major Political Parties
Not specified
International Relations
Global position and alliances
UN Member:
Yes
EU Member:
No
Diplomatic Presence:
2535 Massachusetts Avenue NW, Washington, DC 20008-2826
Major Alliances and Organizations
OAS
Economic Sectors & Trade
Detailed economic breakdown
Major Economic Sectors
Agriculture
8.1% (2023 est.)
Industry
14.3% (2023 est.)
Services
62.4% (2023 est.)note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Trade Volume
Exports:
$1.536 billion
Imports:
$1.573 billion
Major Trading Partners
USA 22
UK 14
Spain 9
Guatemala 7
Portugal 5
Economic Outlook
Belize has a 1.15% GDP growth rate with 4.39% inflation. The economy is characterized by a strong agriculture sector.