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%.

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.


Belize GDP from 1980 to 2024

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

Change Chart

    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