The economy of Belize expanded 5.4 percent year-on-year in the second quarter of 2018, much faster than a 1.3 percent growth in the previous period. It was the strongest expansion since the first quarter of 2015, mainly driven by gains in: utilities (38.2 percent vs 18.4 percent in Q1); construction (7.6 percent vs -8.7 percent); wholesale and retail trade (6.1 percent vs 5.3 percent); transport and communication (3.3 percent vs 2.8 percent) and agriculture (10.6 percent vs -7.0 percent). Meantime, hotels and restaurants activity went up 9.3 percent, after growing 16.9 percent in the previous period. On a seasonally adjusted quarterly basis, the GDP advanced 5.4 percent, up from a 1.4 percent rise in the first quarter. GDP Annual Growth Rate in Belize averaged 3.72 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 2.00 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 1.90 in 12 months time. In the long-term, the Belize GDP Annual Growth Rate is projected to trend around 2.20 percent in 2020, according to our econometric models.