The Belizean Economy

The Belizean economy has grown from a primarily agricultural-based economy to a service-oriented economy. In 1999, 45% of Belizean workers were employed in the primary and secondary sectors of the economy, which are dominated by citrus and sugar farming, construction, and manufacturing. Today, that proportion has decreased to 32%, with four of the five largest industries in terms of employment belonging to the tertiary sector. Jobs in agriculture and manufacturing have been steadily replaced by jobs in business process outsourcing, transportation, communications, finance, real estate, government services, and tourism. Raising the minimum wage could impact competitiveness in key emerging industries such as business process outsourcing.

GDP by activity in 2020 [1]

1. Source: 2020. Annual GDP by Activity. SIB. Accessed at: https://sib.org.bz/statistics/economic-statistics/