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Country Commercial Guides for FY 2000: Belize Report prepared by U.S. Embassy Belize City, released July 1999 Note*

V. LEADING SECTORS FOR U.S. EXPORTS AND INVESTMENT

TRADE STATISTICS FOR 1998 REVEAL THAT BELIZE IMPORTED $159.3 MILLION WORTH OF GOODS FROM THE U.S., OF WHICH 93 PERCENT WAS COMPRISED OF MANUFACTURED GOODS ($54.5 MILLION), MACHINERY AND TRANSPORT EQUIPMENT ($53.5 MILLION), FOOD AND LIVE ANIMALS ($26.9 MILLION), AND CHEMICALS AND RELATED PRODUCTS ($13.9 MILLION).

AS A MICRO-ECONOMY, BELIZE HAS A VERY LIMITED LOCAL MANUFACTURING INDUSTRY. BEST PROSPECTS FOR U.S. EXPORTS TO BELIZE, THEREFORE, INCLUDE THE FOLLOWING:

- FOOD PROCESSING AND PACKAGING EQUIPMENT: THE GOB CONSIDERS THE AGRO-PROCESSING SECTOR AS ONE OF ITS TOP PRIORITIES FOR ECONOMIC DEVELOPMENT. THE LOCAL DEMAND FOR FOOD PROCESSING AND PACKAGING EQUIPMENT IS INCREASING DUE TO LOCAL AND FOREIGN INVESTMENT IN AGRIBUSINESS VENTURES. TRADE STATISTICS FOR 1998 SHOW THAT BELIZE IMPORTED CLOSE TO $76 MILLION (23.3 PERCENT OF TOTAL IMPORTS) WORTH OF MACHINERY AND TRANSPORT EQUIPMENT, ALTHOUGH THIS COVERED A WIDE RANGE OF USES WELL BEYOND FOOD PROCESSING AND PACKAGING. NONETHELESS, THE POTENTIAL IN THIS SECTOR IS SIGNIFICANT, PARTICULARLY IF AND WHEN LOCAL INDUSTRIAL ELECTRICITY RATES ARE REDUCED.

- CONSUMER GOODS: BECAUSE OF ITS LIMITED MANUFACTURING CAPACITY, BELIZE IS A NET IMPORTER OF MOST OF ITS CONSUMABLE AND DURABLE GOODS. THE U.S. ALONE CONTRIBUTED LITTLE LESS THAN HALF ($159.3 MILLION) OF ALL OF BELIZE'S IMPORTS ($324.9 MILLION) IN 1998. LAST YEAR, TOO, BELIZE IMPORTED APPROXIMATELY $50 MILLION OF CONSUMABLE GOODS, ALMOST $5 MILLION MORE THAN LAST YEAR. OF 1998 CONSUMABLE GOODS IMPORTS, A LITTLE MORE THAN HALF CAME FROM THE U.S. ($26.9 MILLION). THE PROXIMITY OF BELIZE TO THE UNITED STATES, CULTURAL INFLUENCES, AND STRONG TRANSPORTATION LINKS GIVE U.S. SUPPLIERS A DISTINCT ADVANTAGE OVER EUROPEAN AND ASIAN EXPORTERS.

- NEW PRODUCTS: BECAUSE SEVERAL LOCAL TELEVISION AND CABLE COMPANIES BROADCAST U.S. PROGRAMS COMPLETE WITH COMMERCIALS, DEMAND FOR NEW U.S. PRODUCTS IS HIGH.