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.
Data Source: International Monetary Fund
Image Source: Freepik from www.flaticon.com
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)
| year | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
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 |
