Detailed Review of Belize’s Economy
Belizean agriculture is the second largest force in the country’s economy. Banana farming is the largest employer and sugar cane accounts for 50% of exports. Each year the European Union imports 42,000 tonnes of sugar from Belize. There is also a great deal of fishing in Belize. The agricultural sector employs 19.5% of the active population, compared to 17.9% for industry.
Services are the mainstay of the economy, of which 16% are related to tourism. Tourism is very popular because the country has outstanding natural assets: a pleasant climate, the longest barrier reef in the northern hemisphere and safe waters for diving, 127 islands, rivers which are ideal for rafting, jungle and Mayan ruins.
Finally, oil reserves discovered in 2005 generate 4,000 barrels per day.