COUNTRYAAH, Belize is considered by the World Bank as a medium-income
country. The country is dependent on foreign aid for its
investments and, through favorable conditions, seeks to
attract foreign capital to the business community.
In 2006, foreign companies began extracting oil off the
coast of the country and oil exports now account for
one-third of export revenues.
Of the total area, only a few percent are agricultural
land, but the industry accounts for 25 percent of exports.
The main products are sugar and citrus fruits. For export,
for example, bananas and cocoa are grown, while maize, rice
and beans go to local consumption. Hurricanes in 2007 and
2010 as well as major floods in 2008 hit the country's
agricultural industry hard. Belize is forest rich (44
percent of the country is covered by forest), but timber
(primarily mahogany), which was previously the country's
dominant export product, now accounts for 2 percent of
exports. On the other hand, fishing is of great importance
for both domestic consumption and export (lobster).
The industry, which is underdeveloped, is focused on
processing products from the arable industries, such as
sugar, fruit (including juice concentrate), timber and fish.
These products, together with clothing and oil, also
constitute the majority of the country's exports. The much
larger imports consist of industrial products, fuel and
food. The largest trading partners are the United States and
the United Kingdom. Like many of its neighboring countries,
Belize is investing in developing the tourism industry.
In order to increase the inflow of foreign currency, the
government has sought to develop the tourism industry. The
number of foreign visitors has risen sharply, but the number
is still quite modest from an international perspective;
Every year, about 250,000 tourists and about 600,000 cruise
visitors come to the country. Foremost are tourists from the
United States. Belize has fine beaches, the world's second
largest coral reef and many small islands (cays).
Furthermore, there are interesting remains from the Maya
civilization. You want to invest heavily in ecotourism. in
connection with the country's nature reserve.