Sharp decline in UK exports pushes down May trade earnings

A sharp reduction in exports to the United Kingdom was the main factor behind Belize’s lower export earnings in May 2026, according to data released by the Statistical Institute of Belize (SIB).

Reduced sales of sugar and bananas to the UK resulted in export revenues from that market falling by $17.4 million, from $22.4 million in May 2025 to just $5.0 million this year.

The SIB also reported lower earnings from CARICOM countries, where revenues dropped by $3.6 million from $9.2 million to $5.6 million, largely due to reduced exports of orange concentrate.

Export earnings from other European Union countries declined by $0.9 million to $6.1 million, reflecting lower sales of sugar and molasses during the month.

Despite the overall downturn, exports to the United States increased significantly.

Earnings from the U.S. rose by $6.5 million, climbing from $4.4 million in May 2025 to $10.8 million in May 2026 as purchases of sugar and molasses increased.

Revenues from “Other” countries also grew by $2.2 million to $2.9 million, supported by stronger sales of molasses and lobster products.

For the first five months of 2026, Belize’s merchandise exports totaled $140.6 million, a decline of 13.5 percent compared to the same period last year, with lower earnings from citrus, sugar, bananas, red kidney beans, and molasses partially offset by stronger exports of marine products and animal feed.

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