Belize

Belize is a small nation on the eastern coast of Central America, on the Caribbean Sea bordered by Mexico to the northwest and Guatemala to the west and south. The country is a parliamentary democracy and constitutional monarchy which recognizes Queen Elizabeth II as Sovereign. The nation of Honduras is a near neighbour, 75 km away (47 miles) across the Gulf of Honduras to the east. The name is derived from the Belize River which Belize City, the former capital and largest city, is also named after. In Spanish it is usually called Belice. Belize was a British colony for more than a century, known as British Honduras, until 1973. It became an independent nation in 1981. Belize is a member of Caribbean Community (CARICOM) and the Sistema de Integracion Centro Americana (SICA) and considers itself to be both Caribbean, and Central American.

Economy

Main article: Economy of Belize

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The small, essentially private enterprise economy is based primarily on agriculture, agro-based industry, and merchandising, with tourism (especially scuba diving) and construction assuming greater importance. Sugar, the chief crop, accounts for nearly half of exports, while the banana industry is the country's largest employer. Citrus production has become a major industry along the Hummingbird Highway.

Related Topics:
Agriculture - Tourism - Sugar - Banana - Citrus production - Hummingbird Highway

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The government's expansionary monetary and fiscal policies, initiated in September 1998, led to GDP growth of 6.4% in 1999 and 10.5% in 2000. Growth decelerated in 2001 to 3% due to the global slowdown and severe hurricane damage to agriculture, fishing and tourism. Major concerns continue to be the rapidly expanding trade deficit and foreign debt. A key short-term objective remains the reduction of poverty with the help of international donors.

Related Topics:
1998 - GDP - 1999 - 2000 - 2001 - Hurricane - Fishing - Trade deficit - Poverty

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More Belizians currently live abroad (mostly in the United States) than within the country itself, and a very significant portion of Belize's GNP comes from money sent by families living abroad.

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