Belize: Terms of trade adjustment (constant LCU)

Key figures

What the numbers say

In 2024, Belize's terms of trade adjustment (constant LCU) rose 46.38 million on 2023 (from 11.54 million to 57.92 million).

Across the 30 yearly changes before that (1994 to 2023), the average change was −5.44 million and a typical year strayed about 144.37 million from that (the standard deviation). This year's change was 0.4 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 365.16 million in 2007 and the biggest yearly fall was 413.33 million in 2009. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 there is no clear straight-line trend: a straight line explains 28% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Belize had the 12th highest value of the 29 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Belize in the 2024 ranking

• Bahrain — 8th of 29: 538.68 million
• Zimbabwe — 9th of 29: 402.35 million
• Bermuda — 10th of 29: 144.24 million
• Timor-Leste — 12th of 29: 54.94 million
• Kiribati — 13th of 29: 3.53 million
• Marshall Islands — 14th of 29: 1.56 million

What this measures

The terms of trade adjustment is equal to the capacity to import (current price value of exports of goods and services deflated by the import price index) less exports of goods and services in constant prices. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment varies by country. This series is expressed in local currency units.

All 45 values

Terms of trade adjustment (constant LCU) in nearby economies

• Argentina — 59.64 billion (2025)
• Bahamas, The — -297.96 million (2024)
• Bolivia — 2.48 billion (2024)
• Brazil — -50.96 billion (2025)
• Chile — 15.42 trillion (2025)
• Colombia — 43.29 trillion (2025)
• Costa Rica — 1.37 trillion (2025)
• Cuba — -3.15 billion (2024)
• Dominican Republic — 73.4 billion (2025)
• Ecuador — 1.74 billion (2025)

More economic policy & debt data for Belize

• GDP (current US$) — US$3.33 billion (2025)
• GDP (current LCU) — 6.65 billion (2025)
• GDP (constant 2015 US$) — US$2.7 billion (2025)
• GDP (constant LCU) — 5.4 billion (2025)
• GDP per capita (current US$) — US$7,865 (2025)
• GDP per capita (current LCU) — 15,731 (2025)
• GDP per capita (constant 2015 US$) — US$6,374 (2025)
• GDP per capita (constant LCU) — 12,772 (2025)
• GNI (current US$) — US$3.16 billion (2025)
• GNI (current LCU) — 6.32 billion (2025)
• GNI per capita (current LCU) — 14,953 (2025)

Reading data like this

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Questions people ask

What is Belize's terms of trade adjustment (constant LCU)?

57.92 million in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1980?

It is down 73.76% from 220.74 million in 1980 (2.99% a year on average, compounded). The highest value was 366.82 million in 2017 and the lowest -457.58 million in 2009.

How does Belize rank?

12th highest of 29 economies with data for 2024.

Is the latest change in terms of trade adjustment (constant LCU) unusual for Belize?

In 2024, Belize's terms of trade adjustment (constant LCU) rose 46.38 million on 2023 (from 11.54 million to 57.92 million). Across the 30 yearly changes before that (1994 to 2023), the average change was −5.44 million and a typical year strayed about 144.37 million from that (the standard deviation). This year's change was 0.4 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator NY.TTF.GNFS.KN, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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