Belize Import Trade Data: $1.34B in 2023, Down 4.0%

Belize's Import Bill Eases in 2023

Belize imported $1.34 billion worth of goods in 2023, the latest year with verified trade data in this dataset. That total marks a decline of 4.0% from the $1.40 billion recorded in 2022, following two straight years of growth in the value of goods entering the country. The United States was by far the largest supplier, providing 42.0% of the total, worth $562.73 million.

China ranked second at 17.2% ($229.99 million), ahead of Mexico at 9.5% ($127.70 million) and Guatemala at 9.4% ($126.47 million). Trinidad & Tobago took fifth place at 1.6% ($22.08 million), followed by India at 1.3% ($16.92 million) and El Salvador at 1.2% ($16.13 million). Panama took eighth place at 1.2% ($15.42 million), South Korea added 1.1% ($15.31 million), and Costa Rica rounded out the top ten at 1.1% ($15.05 million). Together, the top three suppliers made up 68.6% of total import value.

The USA's dominant share, more than double the next four suppliers combined, reflects Belize's geographic proximity and long-standing trade ties to American manufacturers, refiners, and distributors. China's second-place position points to a steady flow of manufactured goods, machinery, and consumer products that has become common across Central American and Caribbean import profiles over the past decade. Mexico and Guatemala's presence just behind China, both bordering countries, suggests a meaningful share of overland trade in fuel, food, and construction materials moving alongside the maritime shipments that dominate the USA and China routes.

Beyond the top four, Belize's remaining suppliers span the Caribbean, South Asia, and neighboring Central American economies. Trinidad and Tobago's presence, worth $22.08 million, likely reflects refined petroleum and manufactured goods moving within the Caribbean Community. India and El Salvador's appearance points to smaller but consistent shipments of pharmaceuticals, textiles, and processed goods, while Panama, South Korea, and Costa Rica close out the list as sources of transshipped or specialized manufactured products rather than bulk commodities.

Fuel and Machinery Lead Import Categories

Mineral fuels, mineral oils and related distillation products led all import categories in 2023, worth $198.16 million and accounting for 14.8% of total import value. Machinery and mechanical appliances, boilers and nuclear reactors followed at 10.4% ($139.67 million), and electrical machinery and equipment ranked third at 6.1% ($81.15 million).

Vehicles other than railway or tramway rolling stock added 5.7% ($76.28 million), while tobacco and related nicotine products contributed 3.9% ($52.22 million). Plastics and articles thereof brought in 3.6% ($48.24 million), and footwear added 2.8% ($38.14 million). Iron or steel articles contributed 2.8% ($37.57 million), iron and steel itself added 2.8% ($37.52 million), and apparel and clothing accessories closed out the top ten at 2.7% ($35.79 million).

The fuel category's leading position is consistent with Belize having no domestic oil refining capacity, meaning nearly all refined petroleum products used for transport and power generation have to be brought in from abroad. That reliance on imported energy sits alongside a steady need for machinery and electrical equipment, both tied to ongoing investment in agriculture, construction, and tourism infrastructure across the country.

Vehicles rounding out the top four categories reflects rising demand for cars, trucks, and other transport equipment as the economy expands, while the presence of tobacco products, plastics, and iron and steel articles points to a broad manufacturing and consumer goods base rather than dependence on any single sector beyond energy. Footwear and apparel imports, though smaller in value, indicate consistent consumer demand for finished textile goods not produced domestically at scale.

A Steady Climb, Then a Modest Pullback

Belize's imports followed an uneven but generally upward path over the past five years. Imports fell from $985.90 million in 2019 to $788.07 million in 2020, likely reflecting disrupted shipping and reduced demand during the early stages of the global pandemic, then climbed for two straight years to $1.06 billion in 2021 and further to $1.40 billion in 2022, before declining 4.0% to $1.34 billion in 2023. Even with the pullback, the 2023 total remains well above every year prior to 2021, leaving the broader five-year trajectory sharply higher than where it started.

The modest size of the 2023 decline, coming right after the strongest year in the five-year window, suggests the pullback may reflect normalization from an unusually strong 2022 rather than a structural shift away from Belize's established supplier relationships. For a closer look at how individual partner countries or product categories break down year over year, the data panels above provide the full detail behind these figures.