Remittance outflow from Belize, by year 2023

The value of personal remittances paid in Belize increased by 1.2 million U.S. dollars (+2.9 percent) in 2023. In total, the value amounted to 42.58 million U.S. dollars in 2023. This increase was preceded by a declining value.
Personal remittances comprise personal transfers and compensation of employees. Personal transfers include all current transfers between resident and nonresident individuals, while the compensation of employees refers to the income of employees who are employed in an economy where they are not resident, as well as of resident employees employed by nonresident entities.

Value of personal remittances in Belize from 2001 to 2023, based on remittance outflow towards any other country

Characteristic	Personal remittance outflow (in million U.S. dollar)	Year-on-year percentage change (%)
2023	42.58	2.9
2022	41.4	-0.7
2021	41.7	-1.7
2020	42.41	1.3
2019	41.88	-2.6
2018	42.98	-5.8
2017	45.61	0.9
2016	45.2	9.8
2015	41.16	23.7
2014	33.27	5.5
2013	31.52	19.7
2012	26.33	11.9
2011	23.53	7
2010	21.99	-2.3
2009	22.51	-19.5
2008	27.98	30.4
2007	21.45	4.1
2006	20.61	6.6
2005	19.33	7.3
2004	18.01	-8.8
2003	19.75	18.6
2002	16.65	3.9
2001	16.03	-

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Release date

July 2024

More information

Region

Belize

Survey time period

2001 to 2023

Special properties

All figures are estimates and in current U.S. dollars; This statistic follows the BPM 6 definitions of remittances, differentiating between "personal" and "total" remittances even if the two figures are often the same. See the "Details" tab for more information.

Supplementary notes

The numbers provided have been calculated by Statista, using definitions of remittances set in BPM 6 - the Sixth Edition of the IMF's Balance of Payments and International Investment Position Manual. The IMF used the following remittance definitions:

Personal remittances: The sum of "personal transfers", "compensation of employees" and "capital transfers between households";
Total remittances: The sum of "1. Personal remittances" with "social benefits";
Total remittances and transfers to Non-Profit Institutions Serving Households (NPISHs): The sum of "2. Total remittances" with "current transfers to NPISHs" and "capital transfers to NPISHs"

The categories of "personal transfers", "compensation of employees", "capital transfers between households", "social benefits", "current transfers to NPISHs" and "capital transfers to NPISHs" are all found in the IMF's Balance of Payments (BOP) database. Both the World Bank - and its KNOMAD department - adopted this IMF database in all their reportings on remittances.

Only the first two IMF categories - "personal transfers" and "compensation of employees" - are reported, though. All other categories are supplementary, meaning data is often not available or researched. This effectively means remittance data is incomplete - as it only covers (parts of) 1. Personal remittances.

Due to this lack of additional information, calculations on 1. Personal remittances and 2. Total remittances regularly lead to the same results. However, sources tend to write "total remittances" when the figures technically refer to "personal remittances". To avoid this confusion, Statista follows the BPM 6 wording of "personal remittances", unless a country does provide additional data that would lead to different figures that would be accounted for in "total remittances".

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