The main economic resource is Belize’s arable land, although only 3 % of the total land area is under cultivation. Agricultural exports include sugar, citrus fruits, and bananas. Rice, beans, and corn are grown as subsistence crops. Lumbering, formerly the chief economic activity, has declined in importance. Major manufactures are processed food, wood products, and clothing. A road network of 2,872 km (1,785 mi) links the major urban centers, but some areas remain inaccessible. An international airport serves Belize City. The unit of currency is the Belize dollar (2 Belize dollars equal U.S.$1; 1999 fixed rate). In 1999 exports earned $167 million, and imports cost $366 million. The government’s budget included $133 million in revenue and $179.8 million in expenditure in 1995.

The service area of the economy—including trade, tourism, and administration—has accounted for the largest share of the gross national product (GNP) since the early 1980s, when it overtook agriculture, forestry, and fishing. Nearly half the labour force and the GNP are now sustained by services. Tourism expanded rapidly in the 1980s and '90s and became a major source of foreign exchange. Fishing, boating, and swimming along the reef are popular, and ecotourism in the interior has grown.

The small, essentially private enterprise economy is based primarily on agriculture, agro-based industry, and merchandising, with tourism and construction assuming greater importance. Sugar, the chief crop, accounts for nearly half of exports, while the banana industry is the nation's largest employer. The government's tough austerity program in 1997 resulted in an economic slowdown that continued in 1998. The trade deficit has been growing, mostly as a result of low export prices for sugar and bananas. The tourist and construction sectors strengthened in early 1999, supporting growth of 6% in 1999 and 4% in 2000. Aided by international donors, the government's key short-term objective remains the reduction of poverty.