Belize: Economic growth

* indicates monthly or quarterly data series
 Belize

Economic growth: the rate of change of real GDP

 Latest value 8.73
 Year 2022
 Measure percent
 Data availability 1961 - 2022
 Average 4.85
 Min - Max -13.73 - 17.86
 Source The World Bank
For that indicator, we provide data for Belize from 1961 to 2022. The average value for Belize during that period was 4.85 percent with a minimum of -13.73 percent in 2020 and a maximum of 17.86 percent in 2021. The latest value from 2022 is 8.73 percent. For comparison, the world average in 2022 based on 183 countries is 4.38 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent values chart
Belize - Economic growth - Recent values chart

Historical chart
Belize - Economic growth - historical chart - 1961-2022




Economic growth in Belize and other countries is calculated as the percent change in the GDP from one year to the next. It measures whether production has increased or decreased, and by how much.

Looking across many countries and over long periods of time, the average rate of economic growth is about 2-3 percent per year. That changes from year to year as the economy goes through recessions and expansions. However, if an economy routinely grows at about 5 percent or more per year, this is a substantial rate of economic growth. Economic growth of 7-8 percent is extraordinary.
Definition: Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2015 prices, expressed in U.S. dollars. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.

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 Related indicators Latest value Reference Measure
 Economic growth 8.73 2022 percent
 GDP, constant dollars 2.5 2022 billion U.S. dollars
 GDP, current U.S. dollars 2.83 2022 billion U.S. dollars
 GDP per capita, current dollars 6,984.22 2022 U.S. dollars
 GDP per capita, PPP 9,474 2022 U.S. dollars
 GDP per capita, constant dollars 6,191.66 2022 U.S. dollars
 Economic growth, quarterly 3.10 Q3/2023 percent
 Economic growth Q-on-Q 1.49 Q3/2023 percent
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