Belize profile

Demography and Health

Belize is a small country with a total population of about 417,000 in 2024, ranking relatively low in global population counts. Net migration in 2024 was mildly positive, with around 490 people entering the country more than leaving, suggesting a net inflow that can influence labor markets and urban dynamics. The crude birth rate stood at 18 per 1,000 people and the crude death rate at 4.92 per 1,000 in 2023, pointing to modest natural population growth and a demographic setup that may gradually tilt toward an aging pattern over time. Life expectancy at birth reached 73.6 years in 2023, indicating decent health outcomes relative to peers in the region, but there is room to improve child health, as under-5 mortality was 12.7 per 1,000 live births in 2023. The proportion of the population undernourished was 4.6% in 2022, signaling ongoing nutrition challenges that bear on health and development outcomes. Belize devotes a portion of its resources to health expenditures—current health expenditure was 4.23% of GDP in 2022, and public health spending per capita (PPP) was about 297 international US dollars in 2022—indicating a modest but meaningful public health footprint that may constrain service delivery, especially in more remote areas. The suicide mortality rate was 4.18 per 100,000 people in 2021, a statistic that underscores the importance of mental health services within the broader health system. Access to information and services is increasingly supported by digital connectivity, with 72.4% of the population using the Internet in 2023, a factor that can facilitate health information, telemedicine, and public health campaigns. Overall, Belize presents a mixed health and demography picture: a small, relatively stable population with moderate health outcomes, ongoing nutrition concerns, and a growing but still income-constrained health financing envelope.

Economy

Belize's economy showcases mid-income characteristics, with a GDP per capita of 8,430 current US$ in 2024 and a GDP per capita at purchasing power parity of 15,093 international US$ in the same year. This signals a standard of living that is accessible and improvement-oriented, yet not among the highest in the region. The inflation rate stood at 3.29% in 2024, suggesting price stability within a moderate range that is conducive to macroeconomic planning and consumer purchasing power. The country operates an open economy with a sizeable role for trade, as evidenced by exports of goods and services at 55.3% of GDP in 2023 and imports at 51.2% of GDP in 2023, indicating a broad participation in international markets though with a domestic market that remains relatively small. Foreign direct investment (FDI) net inflows amounted to 3.64% of GDP in 2024, signaling a healthy level of external capital inflows that can support capacity expansion and productivity improvements, albeit not at the scale of larger economies. The current account balance was negative by 1.47% of GDP in 2024, reflecting a modest external deficit that must be managed with sustainable financing and resilient export performance. In a broader sense, Belize exhibits a service-oriented, trade-linked economy with limited domestic manufacturing, as suggested by the negligible high-technology exports (0 current US$ in 2023). This combination points to growth prospects anchored in services—such as tourism and related sectors—and selectively targeted investments in logistics, energy, and digital infrastructure to diversify the growth base.

Trade and Investment

Belize demonstrates a relatively open trade stance, with exports of goods and services accounting for 55.3% of GDP in 2023 and imports representing 51.2% of GDP in the same year, underscoring a high degree of trade integration for a small economy. Foreign direct investment inflows are moderate, at 3.64% of GDP in 2024, indicating ongoing investor interest but not a surge of capital compared with larger peers. The current account deficit of 1.47% of GDP in 2024 aligns with the export-import balance and FDI inflows, suggesting a financing pattern that relies on external capital and services trade rather than a large merchandise surplus. The combination of a sizable service sector and tourism-driven revenue streams—while not explicitly stated in the data—fits the export composition profile implied by the services-heavy trade share. Belize’s openness, coupled with modest FDI and a balanced current account, positions the country to pursue competitiveness through regulatory reforms, investment in human capital, and continued improvement in logistics and digital infrastructure to attract service-oriented investment and sustainable growth.

Governance and Institutions

Belize shows a nuanced governance profile. Political stability and absence of violence/terrorism scores are positive at 0.585 in 2023 (rank 64), signaling a degree of policy continuity and resilience, even as other institutional dimensions face challenges. Regulatory quality sits at -0.431 (rank 125) and the rule of law at -0.636 (rank 143), indicating substantive weaknesses in the design and enforcement of regulations and in the effectiveness and reliability of the legal framework. Control of corruption is mildly negative at -0.226 (rank 96), and government effectiveness is -0.376 (rank 122), suggesting room for reform to improve public service delivery and policy implementation. Together, these indicators imply a governance environment that benefits from stability but requires targeted improvements in regulatory quality, the rule of law, and public sector performance to bolster business confidence and service efficiency. On the security side, Belize maintains a modest military expenditure of 26.45 million current US$ in 2023 (rank 142), reflecting limited defense outlays appropriate to its scale and security priorities, rather than a primary development constraint. Overall, Belize’s governance landscape combines political steadiness with notable efficiency and rule-of-law gaps, pointing to a clear agenda for institutional strengthening and governance reforms to support sustained development and investor confidence.

Infrastructure and Technology

Belize demonstrates meaningful digital connectivity, with 72.4% of the population using the Internet in 2023, indicating a solid foundation for e-government, digital services, and online communication. However, the country reports zero high-technology exports in 2023, highlighting a gap in advanced manufacturing, R&D, or a sophisticated tech export sector. This juxtaposition suggests that while fiber, broadband, and digital access are present, Belize does not yet translate digital capabilities into high-tech goods production for export. Strengthening the innovation ecosystem—through targeted investments in technical education, ICT-enabled services, and entrepreneurship—could help Belize move up the value chain. The dominant trade shares (Exports 55.3% of GDP, Imports 51.2%) reflect a highly open economy that benefits from efficient logistics, reliable energy, and dependable digital infrastructure. Overall, Belize’s infrastructure and technology profile shows strong connectivity by population, but a clear opportunity to cultivate higher-value technology sectors and digital services to diversify growth beyond traditional service exports.

Environment and Sustainability

Belize’s environmental indicators point to a country balancing energy transition with ongoing resource management. Renewable energy consumption accounted for 30.8% of total final energy consumption in 2022, indicating a substantial contribution from cleaner energy sources and a potential path toward greater decarbonization. Total greenhouse gas emissions per capita, excluding land-use, land-use change, and forestry (LULUCF), stood at 2.24 t CO2e per person in 2023, a relatively low per-capita footprint consistent with a small, service-oriented economy. However, the Level of water stress—defined as freshwater withdrawal as a share of available resources—was 1.26 in 2021, signaling significant water-resource pressure that could be exacerbated by climate variability and population growth. Belize’s environmental profile thus reflects meaningful progress in renewable energy and relatively low emissions per capita, alongside notable vulnerability to water stress and broader climate risks. Adapting to climate change and strengthening resilience—particularly for coastal communities and tourism infrastructure—will be essential to sustaining natural capital and development gains in the years ahead.