Economy Down By 8.4% In First Quarter

We turn now, the SIB's estimates on Belize's gross domestic product for the first quarter of 2021.

According to the experts, this snapshot provides an appropriate comparison of the economy just before COVID and during COVID. They say that the first quarter of last year was mostly unaffected by the pandemic, which struck Belize near the end of March. When compared to the first quarter of this year, the economy is down by 8.4%.

Here's that presentation by the SIB's Jaqueline Sabal:

The Statistical Institute says that the Services Sector continues to be the hardest hit since it fell by 12.3%. That's mainly due to the sharp reduction in tourism traffic, despite the fact that the country's international airport was reopened late last year.