Belize |
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Last reviewed: 10 August 2009 |
The economy of Belize was traditionally based on forestry, mainly the export of logs, wood and mahogany. The economy is now based on agriculture and non-traditional export sectors such as marine products and tourism.
UK exports to Belize in 2008 totalled £7.9m and UK imports from Belize for the same period was £36.2m. [Statistical Institute of Belize]. Key exports include food and beverages, machinery and transport equipment and chemicals. Imports from Belize are chiefly vegetables, fruits and sugar. Major UK investors in Belize are Fyffes, Booker Tate, Kier Caribbean and Halcrow.
UK Trade & Investment Country Profile: Belize
In Belize, future DFID efforts will be focused at a strategic level on promoting greater cohesion, policy dialogue and further sustainable progress in those areas covered by the Commonwealth Debt Initiative (CDI) criteria, namely progress on addressing poverty, governance and economic management. DFID will also continue to support Belizean development efforts through regional approaches and institutions.
The EU gives aid to Belize through the Cotonou Agreement which replaced the Lome Convention in 2003. Belize has been allocated €11.8 million from the European Development Fund for 2008-2013, focussing largely on rural development. During the period 2006-2010 Belize, as a Sugar Protocol Country, is expected to receive a total of €48.2 million from the EU in order to help improve the efficiency of cane production, processing and economic diversification. From 1999-2008 Belize has received a further €27.7 million to help modernise its banana production industry.