In 2023, Belize's GDP was predominantly driven by the services sector, contributing 35.2%, followed by wholesale, retail trade, restaurants, and hotels at 24.06%. Mining, manufacturing, and utilities made up 13.15%, with transport, storage, and communication, as well as agriculture, hunting, forestry, and fishing, contributing 11.8% and 10.95%, respectively. Construction had a smaller share at 4.84%. Over the past two years, the services and trade sectors saw modest year-on-year growth, while agriculture and construction experienced slight declines. The compound annual growth rate over the last five years was stable across most sectors, indicating balanced sectoral growth.
Future trends to watch include potential growth in eco-tourism within the services sector, which could boost wholesale and retail trade. Technological advancements and infrastructure improvements may enhance transport, storage, and communication, while sustainable practices might drive growth in agriculture and construction.
Top countries in GDP Composition by Sector
| # | 6 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Services | 35.2 | 2016 | |
| 2 | 2 Wholesale, retail trade, restaurants and hotels | 24.06 | 2016 | |
| 3 | 3 Mining, Manufacturing, Utilities | 13.15 | 2016 | |
| 4 | 4 Transport, storage and communication | 11.8 | 2016 | |
| 5 | 5 Agriculture, hunting, forestry, fishing | 10.95 | 2016 | |
| 6 | 6 Construction | 4.84 | 2016 |
