SIB Releases the Latest Statistics September 12, 2008 The Statistical Institute of Belize (S.I.B.) announces the release of the latest Gross Domestic Product (GDP), External Trade and Consumer Price Index statistics for 2008. Gross Domestic Product– 2nd Quarter 2008 After virtually no growth in the first quarter of 2008, Belize’s economy bounced back by 7.3% in the second quarter to post growth of an estimated 4.0% in the first half of this year. The expansion in the second quarter was spurred almost equally by the wholesale and retail trade and manufacturing sectors, both of which grew by more than 10%. The fishing sector, which declined by 20.5% in the first quarter due to the collapse of the country’s largest shrimp farm, rebounded strongly in the second quarter, making it the third largest contributor to the expansion of the economy during that period. Other sectors of growth included agriculture and transport and communication. On the downside, the hotel and restaurant sector declined for a second consecutive quarter, reflecting the continued decrease in tourist arrivals. The electricity and water sector suffered the same fate, as lower rainfall at the Chalillo Dam resulted in a 23.4% drop in electric power generation. The table below provides a summary of performance of the major sectors of the economy during the past year, including the second quarter of this year.

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