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Article: Belize
- Article from:
- Oxford Economic Country Briefings
- Article date:
- June 24, 2009
- Author:
CopyrightCopyright Oxford Economic Forecasting Jun 24, 2009. Provided by ProQuest LLC. (Hide copyright information)
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Highlights and Key Issues
* The economy grew 3.3% last year, but pace of growth fell sharply in Q4. And a 1 4% decline in tourism, associated lower retail sales and a 15% drop in imports, plus lower banana and sugar yields, led to a 2.2% annual fall in GDP in Q1 2009. Trade growth in Latin America has offered some insulation from global recession, as financial services grew 10.4% on the year in Q1, construction by 6.2% and manufacturing by 5.5%, but we now forecast that GDP will fall 3.5% this year.
* The quest for rice self-sufficiency will be promoted by a new trade pact with Taiwan, whose investment plans target exports in the longer term and expanded fish trade. A new pact with Mexico, ...