A trade agreement between Belize and Mexico is on the horizon following negotiations between the governments of both nations, according to a report by the World Trade Organization (WTO).
The bilateral trade balance shows a significant structural imbalance. In 2025, Mexico’s exports totaled $292 million. In contrast, Belize’s exports amounted to only $12 million, according to data from INEGI.
Belize-Mexico Trade Agreement
The WTO reported that Belize remains committed to negotiating a mutually beneficial agreement with its northern neighbor. This agreement should prioritize a specific list of products for preferential market access. This list focuses on the agricultural sector, including the expansion of current livestock exports.
Among the products exported by Mexico to the Belizean market, the most notable are electricity (US$42.2 million in 2024), clothing, fruit preserves, bread, and plastic goods.
Conversely, Belize’s exports to the Mexican market consist mainly of computers, prepared sauces, party supplies, and processed leather.
The upcoming negotiations aim to strengthen cooperation in areas such as border security, infrastructure, regional projects (the Maya Train), and energy interconnection.
To foster these growing trade ties, Belize has also expressed its interest to SIECA in joining the Central American Payment System. In addition, it aims to align its infrastructure with the 2035 Mobility and Logistics Master Plan.
Belizean Economy
Belize is characterized as a small, open, upper-middle-income economy located on the eastern coast of Central America, sharing land borders with Mexico to the north and Guatemala to the west and south.
Covering a land area of approximately 22,966 square kilometers, the nation is home to approximately 417,634 residents.
Despite its growing population, Belize maintains the lowest population density in Central America.
As a Small Island Developing State (SIDS) and a Vulnerable Small Economy (VSE), Belize remains exceptionally susceptible to external shocks. These range from heightened global trade uncertainties to devastating climate events.
A notable example of this vulnerability was Hurricane Lisa in 2022, which resulted in economic losses estimated at $104 million.
The national economic structure is centered on the service sector, which generates more than 60% of the Gross Domestic Product (GDP) and forms the basis of foreign exchange earnings.
This sector is bolstered by a primary sector focused on traditional commodities—sugar, citrus, and bananas—and a growing “blue economy” dedicated to sustainable fisheries and aquaculture.
Due to the limitations of its domestic market, Belize relies heavily on foreign trade. Its trade-to-GDP ratio consistently exceeds 100%, indicating deep integration with global markets, but also significant exposure to fluctuations in international prices for energy and essential raw materials.