ECONOMY The economy of Belize is multi-faceted, with major sectors being agriculture (citrus, sugar, bananas), fisheries, manufacturing (including petroleum) and tourism, as well as the financial and trade infrastructure (tertiary sector). The general structure of the economy is illustrated in Figures 4 and 5. Figure 4: GDP by Activity (in $Millions BZE) 2005 2006 2007 2008 2009 2010 (Three Quarters Only) GDP at constant 2000 market prices 2163.1 2263.8 2291.3 2339.0 2376.9 1843.0 Primary Industries (Agriculture, Forestry and Fishing) 382.4 358.1 283.9 258.8 277.9 179.1 Secondary Industries (Manufacturing, Electricity, Water, Construction) 315.9 395.8 404.9 463.4 505.5 388.4 Tertiary Industries (Wholesale and Retail Trade, Hotels and Restaurants, Transport and Communications, Other Private Services, Producers of Government Services) 1,172.7 1,192.5 1,250.1 1,285.8 1275.8 996.5 All Industries at Basic Prices 1,878.0 1,955.4 1,949.4 2005.8 2061.3 1592.8 285.1 308.3 337.2 333.2 315.7 248.2 Taxes less subsidies on products Source: Central Bank of Belize 2009 Annual Report and the Statistical Institute of Belize Figure 4 above shows the distribution of GDP by activity, while Figure 5 on the following page shows that Belize’s economy is primarily based on services which account for over half of GDP with agriculture now accounting for little over 10% of GDP. The share of secondary industries has increased since 2005 with the exploitation of oil reserves. Belize ICT National Strategy 14