Belize GDP Trends from 1980 to 2024: A overall increase with some decline Flow

Belize's GDP changed from approximately $223M in 1980 to $3B 296M in 2024, showing an overall 1378.0% sharply increased during the period.
The lowest GDP was recorded in 1980 at $223M, and the highest in 2024 at $3B 296M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 6.3%.
For comparison, the average annual growth rate of Guatemala was 6.2%, and that of Mexico was 4.9%.

Belize GDP from 1980 to 2024

The total market value of goods and services produced annually in Belize.

Change Chart

    Overview of Belize's GDP (1980–2024)

    The Gross Domestic Product (GDP) of Belize recorded a 1378.0% sharply increased from 1980 to 2024.
    The average GDP during this period was $1B 320M, and the median was $1B 199M.
    GDP fluctuated within a range of $3B 73M, with a standard deviation of $853M 238K.
    The average annual change was $63M 733K.


    Highest and Lowest GDP Records

    • Lowest GDP: 1980, $223M
    • Highest GDP: 2024, $3B 296M
    • Most Recent GDP: 2024, $3B 296M

    Notable Annual GDP Changes

    • 2022: Significant increase in GDP
    • 2020: Noticeable drop in GDP

    Overall pattern: overall increase with some decline


    Global Economic Events and Belize's GDP

    COVID-19 Pandemic (2020)

    • Period: From 2019 to 2020
    • GDP Change: $2B 387M → $2B 48M
    • Outcome: sharply declined

    2008 Global Financial Crisis

    • Period: From 2007 to 2009
    • GDP Change: $1B 699M → $1B 681M
    • Outcome: declined

    2001 Dot-com Bubble Burst

    • Period: From 2000 to 2001
    • GDP Change: $1B 82M → $1B 129M
    • Outcome: increased

    1998 Asian Financial Crisis

    • Period: From 1997 to 1998
    • GDP Change: $845M → $892M
    • Outcome: increased

    Key Economic Indicators of Belize (1980–2024)

    yearNominal GDPGDP per CapitaPPP per CapitaPPP GDPGDP GrowthCurrent AccountSavingsFiscal BalancePopulation
    1980
    $ 223M
    $ 1,485.19
    $ 1,825.49
    $ 274M
    5.013 %
    -1.661 %
    19.14 %
    0 %
    150,000 people
    1981
    $ 232M
    $ 1,544.09
    $ 1,998.49
    $ 300M
    0.214 %
    -2.025 %
    19.63 %
    0 %
    150,000 people
    1982
    $ 232M
    $ 1,514.54
    $ 1,925.88
    $ 295M
    -7.551 %
    -7.504 %
    8.54 %
    0 %
    153,000 people
    1983
    $ 244M
    $ 1,553.17
    $ 2,064.89
    $ 325M
    6.076 %
    -5.072 %
    10.55 %
    0 %
    157,000 people
    1984
    $ 273M
    $ 1,687.19
    $ 2,318.53
    $ 375M
    11.332 %
    -1.943 %
    15.67 %
    0 %
    162,000 people
    1985
    $ 271M
    $ 1,628.20
    $ 2,294.07
    $ 381M
    -1.419 %
    3.344 %
    26.68 %
    0 %
    166,000 people
    1986
    $ 295M
    $ 1,723.85
    $ 2,440.03
    $ 417M
    7.275 %
    4.054 %
    20.29 %
    0 %
    171,000 people
    1987
    $ 345M
    $ 1,964.49
    $ 2,972.31
    $ 522M
    21.997 %
    2.726 %
    22.90 %
    0 %
    176,000 people
    1988
    $ 407M
    $ 2,275.71
    $ 3,344.64
    $ 599M
    10.861 %
    -0.638 %
    20.77 %
    0 %
    179,000 people
    1989
    $ 470M
    $ 2,557.26
    $ 3,910.93
    $ 718M
    15.474 %
    -4.055 %
    19.56 %
    0 %
    184,000 people
    1990
    $ 533M
    $ 2,819.97
    $ 4,385.55
    $ 829M
    11.209 %
    2.88 %
    25.02 %
    0 %
    189,000 people
    1991
    $ 578M
    $ 2,981.81
    $ 4,923.40
    $ 955M
    11.464 %
    -4.46 %
    18.96 %
    0 %
    194,000 people
    1992
    $ 672M
    $ 3,374.42
    $ 5,500.18
    $ 1B 95M
    12.041 %
    -4.259 %
    20.36 %
    0 %
    199,000 people
    1993
    $ 726M
    $ 3,542.79
    $ 5,808.73
    $ 1B 191M
    6.275 %
    -6.678 %
    20.35 %
    0 %
    205,000 people
    1994
    $ 750M
    $ 3,555.73
    $ 5,773.17
    $ 1B 218M
    0.158 %
    -5.339 %
    17.75 %
    0 %
    211,000 people
    1995
    $ 796M
    $ 3,677.90
    $ 5,781.24
    $ 1B 252M
    0.64 %
    -2.166 %
    19.16 %
    0 %
    217,000 people
    1996
    $ 828M
    $ 3,729.82
    $ 5,802.21
    $ 1B 288M
    1.062 %
    -0.803 %
    17.98 %
    -0.409 %
    222,000 people
    1997
    $ 845M
    $ 3,675.27
    $ 5,901.38
    $ 1B 357M
    3.588 %
    -3.777 %
    8.74 %
    -0.423 %
    230,000 people
    1998
    $ 892M
    $ 3,738.25
    $ 5,978.86
    $ 1B 426M
    3.889 %
    -4.647 %
    6.96 %
    -1.423 %
    239,000 people
    1999
    $ 950M
    $ 3,908.25
    $ 6,483.66
    $ 1B 576M
    8.972 %
    -6.521 %
    12.77 %
    -5.264 %
    243,000 people