Belize - Economic sectors

While efforts to diversify the Belizean economy are underway, the leading economic sector is still agriculture, leaving the country's economic performance vulnerable to fluctuations in international demand and shifts in commodity prices. To bolster economic stability and increase foreign investment, the Belizean government targeted tourism as its primary growth sector. An intensive marketing campaign was launched on U.S. television in the late 1990s to attract visitors, and loans were secured for the restoration of archeological sites. Manufacturing is another sector that has been targeted for growth. Manufacturing proceeds made a solid contribution to the GDP, but in 1998 industry employed only 32 percent of the labor force, less than the 38 percent employed in the agricultural sector. Mining is limited because of a lack of extensive resources. Construction activity increased in 2000 due to reconstruction from Hurricane Keith, but contracts for major projects are often awarded to overseas firms who generally have more building experience and wider access to skilled labor.

Also read article about Belize from Wikipedia

User Contributions:

Comment about this article, ask questions, or add new information about this topic: