Turing over to Belize’s total imports for the month of February 2017, it was valued at $140.4 million representing a significant 13.1 percent or $21.1 million decrease from imports during the same month in 2016, which totaled $161.6 million. (Show Ex trade fig 1)
For the second month in a row, imports were down across most categories. ‘Machinery and Transport Equipment’, was the category with the largest recorded drop for the month, which fell by $10.8 million, from $42.2 million to $31.4 million. Goods imported into the ‘Commercial Free Zones’ amounted to $21.1 million, a decline of $6.8 million when compared to that of last February, with cigarettes, handbags and shoes being among the diminished items. (Show Ex trade fig 2)
Most notable was that Importation of both ‘Mineral Fuels and Lubricants’ and ‘Manufactured Goods’, on the other hand, grew in the month of February 2017. Belize spent over 50 percent or $8.1 million more on ‘Mineral Fuels and Lubricants’ because of rising fuel prices on the world market, despite recording only modest increases in the quantities of diesel and regular fuels imported.
Merchandise imports for January to February 2017 totaled $276.6 million, representing a 3.3 percent or $9.3 million decrease from the same two months of 2016.