Exports Plunge 68% as Sugar Shipments Vanish

Belize’s domestic exports fell 68.2 percent in December after the absence of bulk sugar shipments slashed earnings, driving the sharpest monthly contraction of 2025, according to new data from the Statistical Institute of Belize.

Total domestic exports for December stood at $24.5 million, down $52.5 million from the $77.0 million recorded in December 2024. The decline pushed December to the lowest monthly export value of the year.

Sugar accounted for the largest share of the fall. Export earnings from sugar dropped by $49.9 million, from $52.4 million in December 2024 to just $2.5 million in December 2025. The institute attributed this to the fact that a major bulk shipment occurred in December 2024, while no large shipment was recorded in the same month of 2025.

Molasses exports also weakened, with earnings falling by $2.7 million, from $2.8 million to $0.03 million. Alcoholic beverage exports declined by $1.4 million to $0.2 million, while citrus product exports fell by $1.1 million to $2.1 million, reflecting lower sales of orange concentrate. Animal feed exports decreased by $1.0 million to $1.3 million. Marine product earnings slipped by $0.3 million to $3.3 million, linked to weaker lobster tail sales.

Despite the broad downturn, bananas provided a partial offset. Banana exports increased by $2.4 million, rising from $6.6 million to $9.0 million in December. Smaller gains were recorded in cattle and pineapple concentrate exports, which rose by $0.5 million and $0.4 million respectively.

The contraction in exports was reflected across key markets. Earnings from the United Kingdom fell by $49.8 million, from $54.5 million in December 2024 to $4.6 million in December 2025, mirroring the collapse in sugar shipments. Export revenues from the United States declined by $4.7 million to $3.3 million, partly due to the absence of molasses shipments and reduced alcoholic beverage exports. Receipts from CARICOM countries dropped by $1.9 million to $6.1 million, linked to weaker sales of sugar and orange concentrate.

Some markets recorded gains. Exports to the European Union increased by $3.6 million to $5.6 million, supported by higher banana sales. Revenues from Mexico rose by $0.7 million to $2.0 million, reflecting stronger cattle exports. Shipments grouped under “Other” countries increased by $0.6 million to $1.0 million, driven by higher lobster tail exports.

For the full year, domestic exports totaled $390.0 million, a decline of $74.0 million or 16.0 percent from 2024. The annual fall was again led by sugar, with earnings dropping $68.6 million to $113.7 million as lower quantities were sold at less favorable prices. Molasses exports declined by $14.9 million to $10.0 million. Citrus product revenues fell by $3.5 million to $35.0 million, alcoholic beverages dropped by $7.6 million to $2.3 million, and sawmilled wood, marine products, and pepper sauce also registered declines.

Offsetting movements were seen in marine products, which rose by $9.2 million to $46.4 million for the year, bananas which increased by $6.9 million to $91.0 million, and cattle exports which climbed by $4.3 million to $16.3 million. Crude soybean oil exports also rose by $3.0 million to $11.4 million.

The data indicate that the December collapse was driven primarily by shipment timing in the sugar industry, while the annual decline reflects both lower export volumes and weaker prices across several traditional export commodities.