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#500451 - 01/29/15 04:15 AM Dec 2014 External Trade & Consumer Price Index  
Joined: Oct 1999
Posts: 52,676
Marty Offline
Marty  Offline

The Statistical Institute of Belize (SIB) today released the 2014 External Trade and Consumer Price Index stats which show that imports went up while exports went down. At December of last year, domestic exports totaled twenty-eight point six million dollars, which represents over a two million dollars drop from December 2013. Of Belize’s five major exports, marine products had the sharpest decline of over five million dollars, while banana exports remained the same. Also to note, citrus exports were down by more than sixteen million dollars which was impacted by the decline in export of orange concentrate. The SIB reports that although there were no exports for crude petroleum during December 2014, it had sales in excess of six million dollars. **The total exported goods for the year stood at a little over six hundred and two million dollars, falling by almost sixty million dollars when compared to the previous year. On the upside, sugar and banana sales have increased with just under one hundred and eighty-five million dollars compared to last year December.  Merchandise imports for the entire 2014 totaled just over two billion dollar, which has gone up by almost eight percent over last year’s total. Machinery and Transport Equipment, Mineral Fuels and Lubricants, Food and Live Animals and Goods accounted for majority of the overall increase recorded for 2014. SIB says that the US continues to be Belize’s largest source of imported goods. As it relates to the Food and Fuel prices, in December the inflation was pushed down by zero point four percent when compared to December 2013. The SIB says that this represented the first overall decline in consumer prices since May 2013 and was driven down by a sharp drop in fuel prices and a slower but steady decline in food prices. Similarly, international airfares were down by seventeen percent. Inflation in the category of housing, water, electricity, gas and other fuels remained at one percent. Notwithstanding the slowdown in inflation recorded during the last five months, the national inflation rate for the year 2014 was one percent, with home rentals, transport, some food items, and insurance premiums driving this increase through the year.

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#500535 - 01/30/15 01:02 PM Re: Dec 2014 External Trade & Consumer Price Index [Re: Marty]  
Joined: Oct 1999
Posts: 52,676
Marty Offline
Marty  Offline

Belize’s exports decline for 4th consecutive year

Information released by the Statistical Institute of Belize (SIB) indicates that Belize’s exports have declined in value for the 4th consecutive year, but 2014 registered the sharpest decline over the period spanning 2011-2014.

“Total exported goods for the year in 2014 amounted to $602.9 million, down $57.2 million or 8.7 percent from last year’s earnings of $660 million,” said the SIB, attributing much of the decline to a fall in crude oil sales, by $37.9 million, from $140.1 million to $102.2 million (or 27%).

It said that the decline in oil sales reflects both the fall in the number of barrels exported as well as the continuing decline in the price per barrel on the world market.

However, the fall-off in world oil prices meant good news for consumers, particularly in December, when inflation actually registered at -0.4%, with an ease in food prices also contributing to negative inflation.

The SIB noted that, “The price per gallon of all three types of fuel fell considerably in comparison to December 2013, with the price of premium and regular gasoline down by about 22 percent and 17 percent, respectively, while that of diesel was more than 20 percent lower. Similarly, international airfares were down by 17 percent from the same month last year. On average, food prices were 1.8 percent lower, with the most notable decreases being seen in fresh vegetables, eggs, and red kidney beans.”

Butane prices also eased, with the average price of a 100-pound cylinder dropping more than $10 from $119.85 in December 2013 to $109.26 in December 2014.

Butane is one of the items imported from Central America and Mexico, two of Belize’s trading partners. However, 31% of the goods which Belize imported in 2014 came from the United States.

For the first time, Belize’s import bill has exceeded $2 billion, with the increase being largely attributed to the purchase of motor vehicles for personal transport, vehicles for the transportation of goods, and aircraft — which rose in total value by a combined $27 million during the year.

Over the past 4 years (2011-2014), Belize’s import bill has increased almost 20%, from $1.67 billion to just over $2 billion.

“Diesel purchases rose by $15 million from $106 million to $121 million, notwithstanding the decline recorded in December, while imports of ‘Food and Live Animals’ grew by $23 million, from $203 million to $226 million,” the SIB reports.

On the other side of the trade equation, “Citrus exports were down by more than $16 million, due largely to decreased orange concentrate exports. Sugar and banana sales increased by $2.8 million and $2.7 million, respectively, while marine exports recorded only a marginal increase of $0.3 million for the year,” according to the SIB.


#500646 - 02/03/15 12:38 PM Re: Dec 2014 External Trade & Consumer Price Index [Re: Marty]  
Joined: Oct 1999
Posts: 52,676
Marty Offline
Marty  Offline

December 2014 CPI & External Trade Statistics

SIB’s most recent statistics: December 2014 Consumer Price Index and December 2014 External Trade Bulletin.

CLICK HERE for the 430kb pdf

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