| Capital |
Belmopan |
| Area Sq Km |
22 965 |
| Area Sq Miles |
8 867 |
| Population |
230 000 |
| Languages |
English, Spanish, Mayan, Creole |
| Religions |
Protestant, Roman, Catholic |
| Currency |
Dollar |
| National Day |
|
Belize
Economy Overview
Agriculture is the most important economic sector: the main products are citrus fruit, bananas and sugar cane. Timber is also important, especially mahogany and other tropical hardwoods. Fishing and livestock are being developed. The fastest-growing area of the Belize economy has been the service sector, particularly 'offshore' activities including lightly regulated banking sector and a 'flag of convenience' shipping register. However, these have started to cause political difficulties for the Belizean government. In June 2000, Belize was identified by the Organisation for Economic Cooperation and Development (OECD) as one of 35 "tax havens" whose financial laws are believed to encourage large-scale tax evasion and money-laundering. It has until 2005 to tighten its regime or face sanctions. Tourism, fuelled by foreign investment, has also expanded in recent years, although not at the rate the government had originally hoped. Industry is dominated by the processing of agricultural products (for example, the production of rum from sugar) and light industries such as textiles. The country has no natural energy resources, although the search for oil reserves continues both on- and offshore and plans for hydroelectric projects are under discussion. The USA is the largest single trading partner, providing half of all imports and taking about 60% of Belize exports. The UK and other EU countries are other important trading partners. Belize is a member of CARICOM, the Caribbean economic community, and provides some transit facilities for trade to and from other countries in the region. Belize is a significant recipient of overseas aid from Britain, the EU and North America.
Government
Belize is formally a constitutional monarchy in which the British Monarch is head of state, represented in Belize by a Governor General. The bicameral National Assembly is the legislature, and consists of a 9-member Senate (appointed by the Governor-General for a five-year term) and a 29-member House of Representatives (directly elected for a maximum five year term). Executive power is in the hands of the Governor General, advised by the cabinet.
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