Belize is considered a developing country. A nation's stage of development is determined by a number of factors, including economic prosperity, life expectancy, income equality, and quality of life. As a developing country, Belize may not be able to provide consistent social services to its citizens. These social services can include things like public education, reliable health care, and law enforcement. Developing country citizens may have a lower life expectancy than developed country citizens. Belize exports about $ 0.63 billion and imports about $ 0.86 billion each year. 7.6% of the country's population are unemployed. The total number of unemployed in Belize is 29,066. In Belize, 41% of the population live below the poverty line. The proportion of citizens living below the poverty line in Belize is very high compared to other nations. This situation points to a variety of alarming economic and political factors. It is not advisable to invest in countries with this level of poverty. Government spending on education is 5.7% of GDP. The country's Gini index is 53.1. Belize experiences inequality. The gap between the richest and poorest citizens of this country is wide and obvious, resulting in drastically different standards of living for rich and poor citizens. Belize has a Human Development Index (HDI) of 0.732. Belize has an upper mid-range HDI. This suggests that the majority of citizens will be able to live desirable lives, although some citizens will not be able to achieve a high standard of living. The strength of the Legal Rights Index for Belize is 4. Overall, it is viewed as rather inadequate - bankruptcy and collateral laws can protect the rights of borrowers and lenders to a certain extent; Credit information may be sufficient, but hardly available, or, conversely, it may be available but not sufficient.
The currency of Belize is Belize dollar. The plural form of the word Belize dollar is dollars. The symbol used for this currency is $, and it is abbreviated as BZD. The Belize dollar is divided into Cent; there are 100 in one dollar.
According to the S&P credit-rating agency, Belize has a credit rating score of B-, and the prospects of this rating are negative. According to the Moody's credit-rating agency, Belize has a credit rating score of B3, and the prospects of this rating are stable.
The prime lending rate of Belize's commercial banks is 12. In Belize, the institution that manages the state's currency, money supply, and interest rates is called Central Bank of Belize. The average deposit interest rate offered by local banks in Belize is 2.9%.
Belize has a government debt of 110.% of the country's Gross Domestic Product (GDP), as assessed in 2012.
The corporate tax in Belize is set at 1.75%. Personal income tax ranges from 0% to 25%, depending on your specific situation and income level. VAT in Belize is 12.5%, and it is known as General Sales Tax.
The total gross domestic product (GDP), valued as purchasing power parity (PPP), is $ 2,975 billion in Belize. Belize's gross domestic product (GDP), valued as purchasing power parity (PPP) per capita, was last measured at $ 8 million. PPP in Belize is considered below average when compared to other countries. A below-average PPP indicates that citizens in this country are finding it difficult to buy local goods. Local goods can include groceries, shelter, clothing, health care, personal hygiene, essential home furnishings, transportation and communications, laundry, and various types of insurance. Countries with below average PPPs are dangerous places to invest. The total gross domestic product (GDP) in Belize is 1.624 billion. Based on these statistics, Belize is considered a small economy. Countries with small economies generally support fewer industries and investment opportunities. However, worthwhile investment opportunities can be found. The gross domestic product (GDP) per capita in Belize was last measured at 4 million US dollars. The average Belize citizen has very little wealth. Countries with very low per capita wealth often have a lower life expectancy and a dramatically lower quality of life for their citizens. In countries with very low wealth, it can be very difficult to find a highly skilled workforce as it is difficult for citizens to get the education needed to specialize in industries. However, compared to countries with higher wealth per capita, workers can be found at very low prices. Belize's annual GDP growth rate averaged 2% in 2014. Accordingly, Belize is currently experiencing modest growth. Modest growth countries offer safe investment opportunities; their expanding economy suggests that businesses, jobs and incomes will grow accordingly.