For more information contact Data Dissemination Department at telephone number 822-2207/2352 or e-mail at [email protected]. An Excel version of the tables contained in this release can be downloaded from our website at www.sib.org.bz Date of Release: January 25 th 2017 ETB External Trade Bulletin DECEMBER 2016 Statistical Institute of BELIZE 1902 Constitution Drive Belmopan, Belize C.A. Phone: 501.822.2207 / 2352 • Fax: 501.822.3206 Email: [email protected] • Web: www.sib.org.bz EXPORTS DECEMBER 2016: Total domestic exports for December 2016 amounted to $17.9 million, down 10.7 percent or $2.1 million when compared to December, 2015. With orange concentrate earnings down by almost a half compared to December 2015, the last month of the year saw a drop of $2.8 million in citrus exports, from $6.2 million to $3.4 million. Banana sales contributed minimally to the month’s decline, as exports for that commodity decreased only slightly from $5.7 million to $5.1 million. Sugar, the country’s largest export revenue earner, grew negligibly in comparison to December 2015, from $0.4 million to $0.5 million. In contrast, the category of marine exports performed strongly at the close of the year, as improved shrimp exports prompted a climb in revenues from $3.6 million to $5.7 million for the month. TWELVE MONTHS OF THE YEAR: Domestic exports for the year 2016 totaled $401.9 million, down 25.1 percent or $134.7 million dollars from the $536.6 million recorded for 2015. This significant drop in Belize’s export earnings for the year 2016 when compared to 2015 was as a result of decreased earnings across all major commodities. Citrus, the least impacted of these commodities, experienced only a minimal 1.5 percent decline during the year. Despite a marked drop in the quantities of orange concentrate exported, that product enjoyed favourable market prices over the year, the overall result being only a modest fall in citrus export earnings. Sugar fell by a sizeable 23.3 percent, from $134.4 million during 2015 to $103.1 million in 2016, despite virtually no change in exported volumes, due to lowered world market prices for this commodity. Banana earnings also experienced a steep drop, with a 28.5 percent slump in revenues, from $97.8 million in 2015 to almost $70 million in 2016. Crude petroleum exports for the year 2016 amounted to $22.5 million, down $13.9 million from that of 2015. The year’s low world market prices for crude, coupled with a 17.1 percent reduction in the quantity of exported barrels, resulted in a 38.2 percent drop in earnings for that commodity. Notwithstanding shrimp’s positive showing towards the end of 2016, the year’s greatest export losses were observed within the marine category, with revenue falling by over a half, from $88.1 million in 2015 to almost $42 million in 2016. IMPORTS DECEMBER 2016: Belize’s total imports for the month of December 2016 were valued at $173.9 million. This was a decrease of 3.2 percent or $5.8 million from last December’s imports, which were valued at $179.7 million. For the second consecutive month, imports of ‘Machinery and Transport Equipment’ remained the category with the steepest decline, recording a drop of over $7 million in December 2016, due mostly to reduced purchases of tractors, telecommunication parts and four cylinder vehicles. While lower imports of gaming machines and AC generators contributed to a $2.7 million decrease in goods destined for the ‘Export Processing Zones’, diminished purchases of turkey meat, along with instant and roasted coffee led to a $1.6 million fall in the ‘Food and Live Animals’ category during the month. Imports into the ‘Commercial Free Zones’, on the other hand, grew by over $4 million, with cigarettes and various types of bags being among the increased items. Additionally, in December 2016, $2.6 million more was spent on ‘Mineral Fuels and Lubricants’ when compared to December 2015, as quantities of imported diesel spiked during the month. The categories of ‘Manufactured Goods’ and ‘Crude Materials’ went up by $1.2 million and $1 million, respectively, largely driven by increased imports of corrugated steel rods and pine lumber. TWELVE MONTHS OF THE YEAR: Merchandise imports for the year 2016 totaled almost $2 billion, a decrease of 4.3 percent or $89.1 million from the total imports recorded for 2015. The year’s most significant drop in imports was observed within the ‘Export Processing Zones’ category, which fell from $115.8 million to $45.3 million, mainly because as Belize’s shrimp exports diminished, so did the industry’s demand for shrimp feed. In 2016, Belize spent over $20 million less on diesel fuel, despite only a minor reduction in the quantities imported, as a result of lower world market prices for fuel, leading to a $37.7 million decline in the ‘Mineral Fuels and Lubricants’ category. Importation of ‘Chemical Products’ shrank by $13.7 million for the year, primarily due to reduced purchases of PVC pipes, fertilizers, and medical supplies, while lowered imports of handbags, clothes and cigarettes resulted in an $11.6 million decline in the ‘Commercial Free Zones’ category. Decreased purchases of carton boxes, tires and steel bars resulted in an $11.1 million drop in imports of ‘Manufactured Goods’. On the other hand, imports of ‘Machinery and Transport Equipment’ rose by $29.2 million during the year 2016 due to increased imports of telecommunication parts, while ‘Other Manufactures’ were up by almost $20 million as a result of heightened purchases of prefabricated buildings and laboratory plastics. IMPORTS DOWN 3.2%, EXPORTS DOWN 10.7% IN DECEMBER 2016 Figure 1: Monthly Gross Imports and Domesc Exports; December 2011 - December 2016 146.0 155.7 158.9 184.2 179.7 173.9 49.3 36.7 30.9 32.4 20.0 17.9 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Millions of BZ Dollars IMPORTS EXPORTS Figure 2: Composion of Gross Imports by Type; December 2016 Figure 4: Composion of Exports by Desnaon; December 2016 (Millions of BZ Dollars) Figure 3: Composion of Domesc Exports by Type; December 2015 and December 2016 MACHINERY AND TRANSPORT EQUIPMENT 37.1M MANUFACTURED GOODS & OTHER MANUFACTURES 35.5M COMMERCIAL FREE ZONE & EXPORT PROCESSING ZONES 36.2M MINERAL FUELS & LUBRICANTS 18.0M CHEMICAL PRODUCTS 16.5M FOOD & LIVE ANIMALS 19.8M All OTHER GOODS 10.8M TOTAL = 173.9 MILLION
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rnal Tra Bllin ETB - Ambergris Caye · EXPORTS DECEMBER 2016: Total domestic exports for December 2016 amounted to $17.9 million, down 10.7 percent or $2.1 million when compared to
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For more information contact Data Dissemination Department at telephone number 822-2207/2352 or e-mail at [email protected] Excel version of the tables contained in this release can be downloaded from our website at www.sib.org.bz
Date of Release: January 25th 2017
ETBExternal Trade Bulletin
DECEMBER 2016
StatisticalInstitute ofB E L I Z E1902 Constitution DriveBelmopan, Belize C.A.Phone: 501.822.2207 / 2352 • Fax: 501.822.3206Email: [email protected] • Web: www.sib.org.bz
EXPORTSDECEMBER 2016: Total domestic exports for December 2016 amounted to $17.9 million, down 10.7 percent or $2.1 million when compared to December, 2015.
With orange concentrate earnings down by almost a half compared to December 2015, the last month of the year saw a drop of $2.8 million in citrus exports, from $6.2 million to $3.4 million. Banana sales contributed minimally to the month’s decline, as exports for that commodity decreased only slightly from $5.7 million to $5.1 million. Sugar, the country’s largest export revenue earner, grew negligibly in comparison to December 2015, from $0.4 million to $0.5 million. In contrast, the category of marine exports performed strongly at the close of the year, as improved shrimp exports prompted a climb in revenues from $3.6 million to $5.7 million for the month.
TWELVE MONTHS OF THE YEAR: Domestic exports for the year 2016 totaled $401.9 million, down 25.1 percent or $134.7 million dollars from the $536.6 million recorded for 2015.
This significant drop in Belize’s export earnings for the year 2016 when compared to 2015 was as a result of decreased earnings across all major commodities. Citrus, the least impacted of these commodities, experienced only a minimal 1.5 percent decline during the year. Despite a marked drop in the quantities of orange concentrate exported, that product enjoyed favourable market prices over the year, the overall result being only a modest fall in citrus export earnings.
Sugar fell by a sizeable 23.3 percent, from $134.4 million during 2015 to $103.1 million in 2016, despite virtually no change in exported volumes, due to lowered world market prices for this commodity. Banana earnings also experienced a steep drop, with a 28.5 percent slump in revenues, from $97.8 million in 2015 to almost $70 million in 2016. Crude petroleum exports for the year 2016 amounted to $22.5 million, down $13.9 million from that of 2015. The year’s low world market prices for crude, coupled with a 17.1 percent reduction in the quantity of exported barrels, resulted in a 38.2 percent drop in earnings for that commodity. Notwithstanding shrimp’s positive showing towards the end of 2016, the year’s greatest export losses were observed within the marine category, with revenue falling by over a half, from $88.1 million in 2015 to almost $42 million in 2016.
IMPORTSDECEMBER 2016: Belize’s total imports for the month of December 2016 were valued at $173.9 million. This was a decrease of 3.2 percent or $5.8 million from last December’s imports, which were valued at $179.7 million.
For the second consecutive month, imports of ‘Machinery and Transport Equipment’ remained the category with the steepest decline, recording a drop of over $7 million in December 2016, due mostly to reduced purchases of tractors, telecommunication parts and four cylinder vehicles. While lower imports of gaming machines and AC generators contributed to a $2.7 million decrease in goods destined for the ‘Export Processing Zones’, diminished purchases of turkey meat, along with instant and roasted coffee led to a $1.6 million fall in the ‘Food and Live Animals’ category during the month. Imports into the ‘Commercial Free Zones’, on the other hand, grew by over $4 million, with cigarettes and various types of bags being among the increased items. Additionally, in December 2016, $2.6 million more was spent on ‘Mineral Fuels and Lubricants’ when compared to December 2015, as quantities of imported diesel spiked during the month. The categories of ‘Manufactured Goods’ and ‘Crude Materials’ went up by $1.2 million and $1 million, respectively, largely driven by increased imports of corrugated steel rods and pine lumber.
TWELVE MONTHS OF THE YEAR: Merchandise imports for the year 2016 totaled almost $2 billion, a decrease of 4.3 percent or $89.1 million from the total imports recorded for 2015.
The year’s most significant drop in imports was observed within the ‘Export Processing Zones’ category, which fell from $115.8 million to $45.3 million, mainly because as Belize’s shrimp exports diminished, so did the industry’s demand for shrimp feed. In 2016, Belize spent over $20 million less on diesel fuel, despite only a minor reduction in the quantities imported, as a result of lower world market prices for fuel, leading to a $37.7 million decline in the ‘Mineral Fuels and Lubricants’ category. Importation of ‘Chemical Products’ shrank by $13.7 million for the year, primarily due to reduced purchases of PVC pipes, fertilizers, and medical supplies, while lowered imports of handbags, clothes and cigarettes resulted in an $11.6 million decline in the ‘Commercial Free Zones’ category. Decreased purchases of carton boxes, tires and steel bars resulted in an $11.1 million drop in imports of ‘Manufactured Goods’. On the other hand, imports of ‘Machinery and Transport Equipment’ rose by $29.2 million during the year 2016 due to increased imports of telecommunication parts, while ‘Other Manufactures’ were up by almost $20 million as a result of heightened purchases of prefabricated buildings and laboratory plastics.
IMPORTS DOWN 3.2%, EXPORTS DOWN 10.7% IN DECEMBER 2016Figure 1: Monthly Gross Imports and Domestic Exports;
December 2011 - December 2016
146.0 155.7
158.9
184.2 179.7 173.9
49.3 36.7
30.9 32.4 20.0 17.9
Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16
Mill
ions
of B
Z Do
llars
IMPORTS EXPORTS
Figure 2: Composition of Gross Imports by Type;December 2016
Figure 4: Composition of Exports by Destination; December 2016 (Millions of BZ Dollars)
Figure 3: Composition of Domestic Exports by Type;December 2015 and December 2016
MA
CH
INE
RY
AN
DTR
AN
SPO
RT
EQ
UIP
ME
NT
37.1M
MANUFACTURED GOODS& OTHER MANUFACTURES 35.5M
COMMERCIAL FREE ZONE& EXPORT PROCESSING ZONES 36.2M
MINERAL FUELS & LUBRICANTS 18.0M
CHEMICAL PRODUCTS 16.5M
FOOD & LIVE ANIMALS19.8M
All OTHER GOODS10.8M
TOTAL = 173.9 MILLION
| 2 | External Trade Bulletin for December 2016 • Statistical Institute of Belize
Table 1: Value of Belize’s Imports and Exports by Section of the S.I.T.C for December of 2015 and 2016
| 2 | External Trade Bulletin for December 2016 • Statistical Institute of Belize Statistical Institute of Belize • External Trade Bulletin for December 2016 | 3 |
Table 4: Value of Belize’s Imports and Exports to Caricom Countries for December of 2015 and 2016
New Taiwan 1,091.7 662.1 395.4 720.8 - - 395.4 720.8
Venezuela - - 42.4 - - - 42.4 -
Vietnam 159.4 774.6 451.9 - - - 451.9 -
Source: Statistical Institute of Belize
| 4 | External Trade Bulletin for December 2016 • Statistical Institute of Belize Statistical Institute of Belize • External Trade Bulletin for December 2016 | 5 |
Table 9: Value of Belize’s Imports and Exports by Major Trading Partners for January to December of 2015 and 2016
| 6 | External Trade Bulletin for December 2016 • Statistical Institute of Belize Statistical Institute of Belize • External Trade Bulletin for December 2016 | 7 |
Table 12: Value of Belize’s Imports by Economic End-Use
(BZ $ ‘000)
Imports
Annual December
2013 2014 2015 2016 2015
Consumer Goods
11: Food and beverages 208,240.3 21,354.7 22,919.5 215,730 208,240
12: Transport equipment 27,217.8 1,627.2 1,601.9 21,346 27,218