Belmopan- Diminished returns from sugar was the principal cause of the decline in export earnings for the month of September 2018.
Although exported volumes of this commodity saw only a slight 3.3 percent drop compared to September of last year, revenues from that commodity fell significantly by 27.2 percent, from $28.5 million to $20.7 million, as bulk sugar was sold for noticeably less on the European market compared to last September.
According to figures by the Statistical Institute of Belize ((SIB) Bananas saw a smaller reduction in earnings for the month of September, falling by less than a million, from $8 million in September 2017 to $7.1 million in the same month this year, while revenues for citrus products remained virtually unchanged at approximately $3.6 million.
Marine products show increase
Among the major commodities, marine products recorded the only increase in September, as export earnings for rose from $2.3 million to $3.1 million, due to boosted sales of whole lobsters, lobster meat and shrimp. Molasses and sawn wood, while not classified as major exports, fell sharply in the month, resulting in a combined revenue loss of $2.2 million when compared to September 2017.