Belize’s economic performance is highly susceptible to external market changes. Although moderate growth has been achieved in recent years, the achievements are vulnerable to world commodity price fluctuations and continuation of preferential trading agreements, especially with the U.S. (cane sugar) and UK (bananas).

Belize continues to rely heavily on foreign trade with the United States as its number one trading partner. Total imports in 2000 totaled $446 million while total exports were only $349.9 million.

In 2000, the U.S. accounted for 48.5% of Belize’s total exports and provided 49.7% of all Belizean imports. Other major trading partners include the UK, European Union, Canada, Mexico, and Caribbean Community (CARICOM) member states.

Belize aims to stimulate the growth of commercial agriculture through CARICOM. However, Belizean trade with the rest of the Caribbean is small compared to that with the United States and Europe.

The country is a beneficiary of the Caribbean Basin Initiative (CBI), a U.S. Government program to stimulate investment in Caribbean nations by providing duty-free access to the U.S. market for most Caribbean products.

Significant U.S. private investments in citrus and shrimp farms have been made in Belize under CBI. U.S. trade preferences allowing for duty-free re-import of finished apparel cut from U.S. textiles have significantly expanded the apparel industry. EU and UK preferences also have been vital for the expansion and prosperity of the sugar and banana industries.

The tourism industry is an important part of the economy of Belize, in 2007 contributing to over 25% of all jobs, and making up over 18% of the GDP.[3] This constituted 590 million BZD (295 million USD), according to the Belize government, up 90 million BZD (45 million USD) from the year before.

Tourism is the domain of the Ministry of Tourism, within which the Belize Tourism Board works as a link between the private and public sector.