Screen_Shot_2015-11-25_at_5.53.53_PMAs mentioned at the top of the newscast, the Statistical Institute of Belize, today released its latest economic statistics among them the October 2015 External Trade statistics.

The report shows that Belize’s total imports for the month of October 2015 were valued at $184.2 million. This was an increase of 3.5 percent or $6.2 million over last October’s imports, which were valued at almost $178 million.

Two thirds of all the goods imported during the month consisted of machinery, equipment, manufactured items, and goods for the ‘Commercial Free Zones’ and ‘Export Processing Zones’. Goods destined for the ‘Export Processing Zones’ grew by $5 million from $9 million to $13 million, due to large purchases of steam turbines.

Imports of ‘Machinery and Transport Equipment’, and ‘Food and Live Animals’ both rose by $4 million, with purchases of personal vehicles, portable radio telephones and various food items all rising in comparison to October 2014. Increased steel purchases resulted in a $2 million increase in ‘Manufactured Goods’ during the month. Imports into the ‘Commercial Free Zones’ and the category of ‘Mineral and Fuels and Lubricants’ experienced the largest declines for the month, at $9 million and $5 million, respectively.

SIB also says that merchandise imports for the period January to October 2015 totaled $1.7 billion, representing a 3.1 percent or $51.4 million increase over the same period last year. Machinery and Transport Equipment’ contributed most significantly to this increase, with a $50 million growth recorded for that category. Importation of ‘Manufactured Goods’, ‘Chemical Products’ and ‘Other Manufactures’ also grew considerably, with increases of $23 million, $16 million and $13 million, respectively.

On the other hand, Belize spent $63 million less on ‘Mineral Fuels and Lubricants’, despite a 27 percent increase in the amount of fuels imported, as a result of lower world oil prices.

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