Belize and Honduras
Belize–Honduras relations combine a dispute over the Sapodilla Cayes with a trade negotiation agenda. Belize's 2026–2027 budget records judicial action and market-access objectives, distinguishing pending processes from definitive agreements or decisions.
Analysis reviewed: 2026-10-08 · Indicators updated: 2026-10-08Bilateral context
Belize's approved budget estimates for fiscal year 2026–2027 include the Honduras dispute over Sapodilla Cayes sovereignty among foreign affairs priorities.
What merchandise trade shows
In 2025, goods trade between Belize and Honduras totalled 18.6 million current USD.
Documented trade sectors
Within the selected chapters, pharmaceutical products stands out in shipments from Honduras to Belize, at 0.302 million USD in 2025.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | 18.58 M USD | 2025 · Comtrade |
| Goods: Belize to Honduras | 12.15 M USD | 2025 · Comtrade |
| Goods: Honduras to Belize | 6.44 M USD | 2025 · Comtrade |
| Services trade | ||
| Export share: Belize to Honduras | 5.01 % | 2025 · Comtrade |
| Export share: Honduras to Belize | ||
| Investment stock: Belize in Honduras | ||
| Investment stock: Honduras in Belize |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
- Goods trade
- 2025 · UN Comtrade · Goods; full calendar year; reporter BLZ. Exports normally FOB and imports CIF; no addition of mirror declarations. Both directions are identified from the same customs authority.
- Goods: Belize to Honduras
- 2025 · UN Comtrade · Goods; full calendar year; reporter BLZ. Exports normally FOB and imports CIF; no addition of mirror declarations. Both directions are identified from the same customs authority.
- Goods: Honduras to Belize
- 2025 · UN Comtrade · Goods; full calendar year; reporter BLZ. Exports normally FOB and imports CIF; no addition of mirror declarations. Both directions are identified from the same customs authority.
- Export share: Belize to Honduras
- 2025 · UN Comtrade · Exports to the partner / worldwide exports by the same reporter; same year and coverage.
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
| Indicator | Belize | Honduras |
|---|---|---|
| Nominal GDP | 3.33 billion USD2025 · WB | 39.6 billion USD2025 · WB |
| GDP per capita | 7,865.48 USD2025 · WB | 3,598.21 USD2025 · WB |
| GDP growth | 2.75 %2025 · WB | 3.75 %2025 · WB |
| Policy interest rate | ||
| Inflation · annual average | 1.06 %Annual average · 2025 · WB | 4.6 %Annual average · 2025 · WB |
| Inflation · latest year-on-year figure | ||
| Unemployment | 8.86 %ILO est.2025 · WB | 4.92 %ILO est.2025 · WB |
| Budget balance (% of GDP) | -1 %IMF est.2025 · IMF | -0.7 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 67.9 %IMF est.2025 · IMF | 41.2 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | -2.77 %2025 · WB | 2.36 %2025 · WB |
| Population | 422,9242025 · WB | 11,005,8502025 · WB |
| Area | 22,966 km²2023 · WB | 112,490 km²2023 · WB |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDBelize: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.Honduras: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- GDP per capita
- Current USD per personBelize: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.Honduras: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- GDP growth
- Annual real change (%)Belize: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.Honduras: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Policy interest rate
- Central bank instrument (%)
- Inflation · annual average
- Average annual change in headline CPI (%)Belize: 2025 · Annual average CPI change (%) · World Bank · Annual World Bank observation, with its original year; not monthly data.Honduras: 2025 · Annual average CPI change (%) · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency stated
- Unemployment
- % of the labour force; definition used by the stated institutionBelize: 2025 · ILO modelled estimate; percentage of the labour force · World Bank · ILO est. · Annual World Bank observation, with its original year; not monthly data.Honduras: 2025 · ILO modelled estimate; percentage of the labour force · World Bank · ILO est. · Annual World Bank observation, with its original year; not monthly data.
- Budget balance
- General government (% of GDP)Belize: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.Honduras: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Gross public debt
- General government (% of GDP)Belize: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.Honduras: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Current account balance
- % of GDPBelize: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.Honduras: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Population
- PeopleBelize: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.Honduras: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Area
- Total area in km²; territorial coverage of the sourceBelize: 2023 · World Bank · Annual World Bank observation, with its original year; not monthly data.Honduras: 2023 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
Belize to Honduras
| Product or sector | Value / share |
|---|---|
Honduras to Belize
How trade has changed
Millions of current USD · full calendar years
View chart figures
| Period | Total | Belize to Honduras | Honduras to Belize |
|---|---|---|---|
| 2021 | 18.4 | 10.6 | 7.8 |
| 2022 | 26.9 | 19.9 | 7 |
| 2023 | 21.3 | 14.2 | 7.2 |
| 2024 | 21.4 | 14.8 | 6.6 |
| 2025 | 18.6 | 12.1 | 6.4 |
Connections between people
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from Belize living in Honduras | ||
| Residents from Honduras living in Belize | ||
| Study and training: Belize in Honduras | ||
| Study and training: Honduras in Belize | ||
| Academic stays: Belize in Honduras | ||
| Academic stays: Honduras in Belize | ||
| Travel: Belize to Honduras | ||
| Travel: Honduras to Belize |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
The scale of both economies
Nominal GDP for Belize is 3.3 billion USD (2025), compared with 39.6 for Honduras (2025). The reference populations are 0.423 and 11.01 million, respectively. In the same year, the economy of Belize was 0.084 times that of Honduras in nominal GDP. The comparison provides context on market size, but does not, on its own, measure influence, well-being or diplomatic closeness. Estimates and their sources retain their labels in the tables. [5] [6]
Recent developments
Recent developments and latest available data · Review: 2026-10-08
Bilateral context
Belize's approved budget estimates for fiscal year 2026–2027 include the Honduras dispute over Sapodilla Cayes sovereignty among foreign affairs priorities. In its 2025–2026 review, Belize's government notes that oral arguments on preliminary issues had concluded and a decision was pending; this description belongs to the document's date, not a merits judgment. [1]
Cooperation and bilateral issues
In parallel, the foreign trade programme records ongoing negotiations for a general framework and a partial-scope agreement with Honduras. Its 2026–2027 agenda proposes advancing and concluding these instruments to deepen market access. The two files show that the territorial dispute and pursuit of trade cooperation can coexist, without the budget establishing new preferences' entry into force. [1]
What merchandise trade shows
In 2025, merchandise trade between the two countries (Belize and Honduras) totalled 18.6 million current USD. Shipments from the first to the second were 12.1 million; those in the opposite direction, 6.4 million. The difference between the two flows was 5.7 million, in favour of Belize. This is a goods balance, not the total balance of the economic relationship: it excludes services, income and transfers. Both directions come from a single customs reporter to avoid adding mirror records. [2]
The partner's share of exports
Sales from Belize to the partner represented 5.01% of its worldwide goods exports in 2025. The share compares the same reporter, year and coverage. It measures export concentration, not the percentage of GDP dependent on this relationship. A partner may be important in a specific sector even if its share of total goods trade is small. [2]
Five years of trade trends
The consistent series shows 18.4 million USD in 2021 and 18.6 million in 2025. The change between the two endpoints was +0.907 % in current dollars. The highest annual value in the period was recorded in 2022, at 26.9 million. The chart allows the two directions to be compared to see whether they moved together or differently. The change combines quantities, prices and exchange rates; it is not automatically attributed to a treaty, a visit or a political decision. The same reporter is retained and missing years are not interpolated. [3]
Documented trade sectors
Within the selected chapters, pharmaceutical products stands out in shipments from Honduras to Belize, at 0.302 million USD in 2025. The table compares eight selected chapters with the same coverage as the trade total. It is not a complete list or proof that the first item in this selection is the leading product across the entire relationship. A chapter groups numerous goods: machinery and components, for example, do not describe a single business transaction. [4]
Sources and data
Periods and scope of the figures
Institutional sources and periods accompany each figure. Annual trade, investment positions, residents and visits are distinct measures. Empty cells do not mean zero. Statements of intent are not presented as project implementation or treaties in force.
- Bilateral relations — BLZ-HND
mof.gov.bz · Institutional source · Accessed: 2026-10-08
- Bounded matrix; reporter, partner, year, chapter and direction identified in each record
UN Comtrade · Institutional source · Accessed: 2026-10-08
- Trade series 2021–2025
UN Comtrade · Institutional source · Accessed: 2026-10-08
- Bounded matrix; reporter, partner, year, chapter and direction identified in each record
UN Comtrade · Institutional source · Accessed: 2026-10-08
- Official series — gdp
World Bank · Institutional source · Accessed: 2026-10-07
- Official series — population
World Bank · Institutional source · Accessed: 2026-10-07
Additional sources on products and human connections
- UN Comtrade
2026-10-08 · Accessed: 2026-10-08 · Bounded matrix; reporter, partner, year, chapter and direction identified in each record.