Belize is highly dependent on the United States and Great Britain for trade. These 2 countries alone bought 80 percent of Belize's exports in 1999. That same year, the United States supplied Belize with over half its imported goods.
Due to its limited export base and high degree of dependence on imported goods for much of its domestic consumption, Belize has run persistent trade deficits . In 1999, export receipts amounted to US$182.7 million. This was less than half the import bill of US$374.4 million, resulting in a trade deficit of about US$192 million.
Trade with the United States has been stimulated by Belize's participation in the Caribbean Basin Initiative (CBI), a U.S.-sponsored program to increase investment in Caribbean nations. The initiative allows member countries duty-free access to American markets. Other major trading partners include the European Union, Canada, Mexico, and CARICOM member states.