Screen_Shot_2014-11-26_at_8.38.26_PMAnd while SIB figures reveal that the transport index was cause for the consumer price index to increase, the third quarter statistics also point out that Belize’s economy grew by 4.8%.

The latest Gross Domestic Product estimates reveal that the Belizean economy grew by 4.8percent during the months of July to September 2014 in comparison to last year. Strong performances were reported in several key sectors including agriculture, fishing, hotel and restaurants, while electricity, water and construction were down slightly for the quarter.

Production in the Agriculture and Forestry sector rose by 20.4 percent as both crop yields and livestock production increased during the quarter. In the sugar industry, almost 50 thousand long tonnes were being delivered. Banana production is up by 9 percent, while Livestock products increased three-fold to meet the demands from Mexico and Guatemala.

The fishing sector benefitted from the performance of the shrimp industry and saw a 53.5percent increase during the quarter. Also impacting the GDP figures is the performance from the hotel and restaurant sectors which grew by 21.6 percent which was mainly attributed to the significant increase in tourist arrivals to our shores.

Electricity generation fell by 19 percent during the third quarter while improved efforts to curb leakages and illegal water connections resulted in an 8 percent growth in water distribution.

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