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Economy Of Belize
The economy of Belize is a small, essentially private enterprise economy that is based primarily on agriculture, tourism, and services. The cultivation of newly discovered oil in the town of Spanish Lookout has presented new prospects and problems for this developing nation. Belize's primary exports are citrus, sugar, and bananas. Belize's trade deficit has been growing, mostly as a result of low export prices for sugar and bananas. The new government faces important challenges to economic stability. Rapid action to improve tax collection has been promised, but a lack of progress in reining in spending could bring the exchange rate under pressure. The Belize Dollar is fixed to the U.S. dollar at a rate of 2:1. Domestic industry is limited, constrained by relatively high-cost labour and energy and a small domestic market. Tourism attracts the most foreign direct investment although significant foreign investment is also found in the energy, telecommunications, and agricultural sect ...
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Belize City
Belize City is the largest city in Belize and was once the capital of the former British Honduras. According to the 2010 census, Belize City has a population of 57,169 people in 16,162 households. It is at the mouth of the Haulover Creek, which is a distributary of the Belize River. The Belize River empties into the Caribbean Sea from Belize City on the Philip Goldson Highway on the coast of the Caribbean. The city is the country's principal port and its financial and industrial hub. Cruise ships drop anchor outside the port and are tendered by local citizens. The city was almost entirely destroyed in October 1961 when Hurricane Hattie swept ashore. It was the capital of British Honduras (as Belize was then named) until the government was moved to the new capital of Belmopan in 1970. History Belize City was founded as "Belize Town" in 1638 by English lumber harvesters. It had been a small Maya city called Holzuz. Belize Town was ideal for the English as a central pos ...
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CIA World Factbook
''The World Factbook'', also known as the ''CIA World Factbook'', is a reference resource produced by the Central Intelligence Agency (CIA) with almanac-style information about the countries of the world. The official print version is available from the Government Publishing Office. The ''Factbook'' is available in the form of a website that is partially updated every week. It is also available for download for use off-line. It provides a two- to three-page summary of the demographics, geography, communications, government, economy, and military of each of 267 international entities including U.S.-recognized countries, dependencies, and other areas in the world. ''The World Factbook'' is prepared by the CIA for the use of U.S. government officials, and its style, format, coverage, and content are primarily designed to meet their requirements. However, it is frequently used as a resource for academic research papers and news articles. As a work of the U.S. government, it i ...
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Citrus
''Citrus'' is a genus of flowering trees and shrubs in the rue family, Rutaceae. Plants in the genus produce citrus fruits, including important crops such as oranges, lemons, grapefruits, pomelos, and limes. The genus ''Citrus'' is native to South Asia, East Asia, Southeast Asia, Melanesia, and Australia. Various citrus species have been used and domesticated by indigenous cultures in these areas since ancient times. From there its cultivation spread into Micronesia and Polynesia by the Austronesian expansion (c. 3000–1500 BCE); and to the Middle East and the Mediterranean (c. 1200 BCE) via the incense trade route, and onwards to Europe and the Americas. History Citrus plants are native to subtropical and tropical regions of Asia, Island Southeast Asia, Near Oceania, and northeastern Australia. Domestication of citrus species involved much hybridization and introgression, leaving much uncertainty about when and where domestication first happened. A genomic, phylog ...
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Sugar
Sugar is the generic name for sweet-tasting, soluble carbohydrates, many of which are used in food. Simple sugars, also called monosaccharides, include glucose, fructose, and galactose. Compound sugars, also called disaccharides or double sugars, are molecules made of two bonded monosaccharides; common examples are sucrose (glucose + fructose), lactose (glucose + galactose), and maltose (two molecules of glucose). White sugar is a refined form of sucrose. In the body, compound sugars are hydrolysed into simple sugars. Longer chains of monosaccharides (>2) are not regarded as sugars, and are called oligosaccharides or polysaccharides. Starch is a glucose polymer found in plants, the most abundant source of energy in human food. Some other chemical substances, such as glycerol and sugar alcohols, may have a sweet taste, but are not classified as sugar. Sugars are found in the tissues of most plants. Honey and fruits are abundant natural sources of simple su ...
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Economy
An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of scarce resources'. A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of interrelated human practices and transactions that does not stand alone. Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two groups or parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency. Ho ...
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Mahogany
Mahogany is a straight- grained, reddish-brown timber of three tropical hardwood species of the genus '' Swietenia'', indigenous to the AmericasBridgewater, Samuel (2012). ''A Natural History of Belize: Inside the Maya Forest''. Austin: University of Texas Press. pp. 164–165. . and part of the pantropical chinaberry family, Meliaceae. Mahogany is used commercially for a wide variety of goods, due to its coloring and durable nature. It is naturally found within the Americas, but has also been imported to plantations across Asia and Oceania. The mahogany trade may have begun as early as the 16th century and flourished in the 17th and 18th centuries. In certain countries, mahogany is considered an invasive species. Description The three species are: *Honduran or big-leaf mahogany ('' Swietenia macrophylla''), with a range from Mexico to southern Amazonia in Brazil, the most widespread species of mahogany and the only genuine mahogany species commercially grown today. Ille ...
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Logwood
''Haematoxylum campechianum'' (blackwood, bloodwood tree, bluewood, campeachy tree, campeachy wood, campeche logwood, campeche wood, Jamaica wood, logwood or logwood tree) is a species of flowering tree in the legume family, Fabaceae, that is native to southern Mexico,where it is known as ''Árbol de campeche'', and introduced to the Caribbean, northern Central America, and other localities around the world. The tree was of great economic importance from the 17th century to the 19th century, when it was commonly logged and exported to Europe for use in dyeing fabrics. The modern nation of Belize developed from 17th- and 18th-century logging camps established by the English. The tree's scientific name means "bloodwood" (''haima'' being Greek for blood and ''xylon'' for wood). Uses ''Haematoxylum campechianum'' was used for a long time as a natural source of dye. The woodchips are still used as an important source of haematoxylin, which is used in histology for staining. T ...
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Forestry
Forestry is the science and craft of creating, managing, planting, using, conserving and repairing forests, woodlands, and associated resources for human and environmental benefits. Forestry is practiced in plantations and natural stands. The science of forestry has elements that belong to the biological, physical, social, political and managerial sciences. Forest management play essential role of creation and modification of habitats and affect ecosystem services provisioning. Modern forestry generally embraces a broad range of concerns, in what is known as multiple-use management, including: the provision of timber, fuel wood, wildlife habitat, natural water quality management, recreation, landscape and community protection, employment, aesthetically appealing landscapes, biodiversity management, watershed management, erosion control, and preserving forests as " sinks" for atmospheric carbon dioxide. Forest ecosystems have come to be seen as the most important c ...
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TheGuardian
''The Guardian'' is a British daily newspaper. It was founded in 1821 as ''The Manchester Guardian'', and changed its name in 1959. Along with its sister papers ''The Observer'' and ''The Guardian Weekly'', ''The Guardian'' is part of the Guardian Media Group, owned by the Scott Trust. The trust was created in 1936 to "secure the financial and editorial independence of ''The Guardian'' in perpetuity and to safeguard the journalistic freedom and liberal values of ''The Guardian'' free from commercial or political interference". The trust was converted into a limited company in 2008, with a constitution written so as to maintain for ''The Guardian'' the same protections as were built into the structure of the Scott Trust by its creators. Profits are reinvested in journalism rather than distributed to owners or shareholders. It is considered a newspaper of record in the UK. The editor-in-chief Katharine Viner succeeded Alan Rusbridger in 2015. Since 2018, the paper's main news ...
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Tax Haven
A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organization in order to fund government spending and various public expenditures (regional, local, or national), and tax compliance refers to policy actions and individual behaviour aimed at ensuring that taxpayers are paying the right amount of tax at the right time and securing the correct tax allowances and tax reliefs. The first known taxation took place in Ancient Egypt around 3000–2800 BC. A failure to pay in a timely manner ( non-compliance), along with evasion of or resistance to taxation, is punishable by law. Taxes consist of direct or indirect taxes and may be paid in money or as its labor equivalent. Most countries have a tax system in place, in order to pay for public, common societal, or agreed national needs and for the functions of government. Some levy a flat percentage rate of taxation on personal annual income, but mo ...
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Tourism
Tourism is travel for pleasure or business; also the theory and practice of touring, the business of attracting, accommodating, and entertaining tourists, and the business of operating tours. The World Tourism Organization defines tourism more generally, in terms which go "beyond the common perception of tourism as being limited to holiday activity only", as people "travelling to and staying in places outside their usual environment for not more than one consecutive year for leisure and not less than 24 hours, business and other purposes". Tourism can be domestic (within the traveller's own country) or international, and international tourism has both incoming and outgoing implications on a country's balance of payments. Tourism numbers declined as a result of a strong economic slowdown (the late-2000s recession) between the second half of 2008 and the end of 2009, and in consequence of the outbreak of the 2009 H1N1 influenza virus, but slowly recovered until the COVID-19 p ...
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Trade Deficit
The balance of trade, commercial balance, or net exports (sometimes symbolized as NX), is the difference between the monetary value of a nation's exports and imports over a certain time period. Sometimes a distinction is made between a balance of trade for goods versus one for services. The balance of trade measures a flow of exports and imports over a given period of time. The notion of the balance of trade does not mean that exports and imports are "in balance" with each other. If a country exports a greater value than it imports, it has a trade surplus or positive trade balance, and conversely, if a country imports a greater value than it exports, it has a trade deficit or negative trade balance. As of 2016, about 60 out of 200 countries have a trade surplus. The notion that bilateral trade deficits are bad in and of themselves is overwhelmingly rejected by trade experts and economists. Explanation The balance of trade forms part of the current account, which include ...
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