Economy (Belize)
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     Overview:
         The economy is based primarily on agriculture, agro-based industry, and
         merchandising, with tourism and construction assuming increasing importance.
         Agriculture accounts for about 30% of GDP and provides 75% of export
         earnings, while sugar, the chief crop, accounts for almost 40% of hard
         currency earnings. The US, Belize's main trading partner, is assisting in
         efforts to reduce dependency on sugar with an agricultural diversification
         program.
     GDP:
         exchange rate conversion - $373 million, per capita $1,635; real growth rate
         10% (1990 est.)
     Inflation rate (consumer prices):
         3.5% (1990 est.)
     Unemployment rate:
         12% (1988)
     Budget:
         revenues $126.8 million; expenditures $123.1 million, including capital
         expenditures of $44.8 million (FY91 est.)
     Exports:
         $134 million (f.o.b., 1991 est.)
       commodities:
         sugar, clothing, seafood, molasses, citrus, wood and wood products
       partners:
         US 47%, UK, Trinidad and Tobago, Canada (1987)
     Imports:
         $194 million (c.i.f., 1991 est.)
       commodities:
         machinery and transportation equipment, food, manufactured goods, fuels,
         chemicals, pharmaceuticals
       partners:
         US 56%, UK, Netherlands Antilles, Mexico (1991)
     External debt:
         $142 million (December 1991)
     Industrial production:
         growth rate 9.7% (1989); accounts for 16% of GDP
     Electricity:
         34,532 kW capacity; 90 million kWh produced, 395 kWh per capita (1991)
     Industries:
         garment production, citrus concentrates, sugar refining, rum, beverages,
         tourism
     Agriculture:
         accounts for 30% of GDP (including fish and forestry); commercial crops
         include sugarcane, bananas, coca, citrus fruits; expanding output of lumber
         and cultured shrimp; net importer of basic foods
     Illicit drugs:
         an illicit producer of cannabis for the international drug trade;
         eradication program cut marijuana production from 200 metric tons in 1987 to
         about 50 metric tons in 1991; transshipment point for cocaine
     Economic aid:
         US commitments, including Ex-Im (FY70-89), $104 million; Western (non-US)
         countries, ODA and OOF bilateral commitments (1970-89), $215 million
     Currency:
         Belizean dollar (plural - dollars); 1 Belizean dollar (Bz$) = 100 cents
     Exchange rates:
         Belizean dollars (Bz$) per US$1 - 2.00 (fixed rate)
     Fiscal year:
         1 April - 31 March