Yesterday we brought to you the latest figures as it pertains to the country’s consumer price index and total imports for the month of April 2017. While the price of goods saw an overall increase of 2.2 percent compared to April of last year, imports decreased.
But the same cannot be said about our country’s total domestic exports for April 2017 which grew by 3 percent or $1 million amounting to a total of $35.7 million in comparison to April 2016.
According to the SIB, sugar was the only major export commodity which saw a generous increase during the month. While both citrus and crude petroleum dropped substantially, sugar rose from $2.4 million last year to $13.1 million this year. Figures indicate that while no shrimp was exported throughout the course of the month, marine products still managed to record a modest growth of $0.5 million increasing from $1.3 million to $1.8 million due to higher sales of whole fish and lobster.
Earnings from banana exports remained constant at $6.6 million, while citrus exports experienced a sharp decline, from $15.2 million to $7.7 million this time around, as sales of orange concentrate fell by almost a half during the month. There was however, no exports of crude petroleum during April 2017.
Merchandise exports increased by $27.1 million going from $138.7 million and landing at $165.8 million.
If we talk about the period January to April 2017, sugar continues to be Belize’s top export earner, accounting for approximately a third of total exports, with sales up by $23 million or 69 percent which went from $34 million in 2016 to $57 million in 2017.
Banana earnings, on the other hand, rose by $8 million, from $22 million to $30 million. Due to benefit from world market prices, Crude petroleum exports saw a substantial growth from $7 million to $11 million. Marine products, also contributed to the increase in export revenues during the period, as earnings rose by $2.7 million from $10.6 million to more than $13 million. In contrast, citrus exports shrank by almost $15 million from $38.4 million to $23.5 million in due to a sizeable drop in sales of orange concentrate.