The economy of Belize advanced 3.3 percent year-on-year in the third quarter of 2018, slowing from an upwardly revised 6.3 percent growth in the previous period. Output rose less mostly in: agriculture, hunting & forestry (1.9% vs 10.6% in Q2); public administration (1.2% vs 3.1%) and wholesale and retail trade, repair (7% vs 9.5%). In addition, contractions were registered in manufacturing (-3.3% vs -3.1%); utilities (-1.1% vs 39.8%) and construction (-4.7% vs 7.6%). Conversely, output rebounded for fishing (43.6% vs -16.4%) and grew faster in hotels & restaurants (17.2% vs 9.4%) and transport & communication (3.4% vs 3.3%). On a seasonally adjusted quarterly basis, the GDP rose 3.4 percent, following an upwardly revised 6.3 percent increase. GDP Annual Growth Rate in Belize averaged 5.04 percent from 1995 until 2018, reaching an all time high of 21.10 percent in the fourth quarter of 2000 and a record low of -8 percent in the fourth quarter of 1995.
GDP Annual Growth Rate in Belize is expected to be 1.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Belize to stand at 3.60 in 12 months time. In the long-term, the Belize GDP Annual Growth Rate is projected to trend around 2.30 percent in 2020, according to our econometric models.