Belize continues to rely heavily on foreign trade. Imports in 2006 totaled $660.4 million, while total exports were $268.2 million. The United States continues to be Belize's number-one trading partner. Through November 2007, the United States provided 33.5% of all Belizean imports and accounted for 27.2% of Belize's total exports. Other major trading partners include Mexico, the United Kingdom, Western Europe, Guatemala, Canada, and the CARICOM member states. In 2006-2007, Taiwan and Japan emerged as new trading partners with Belize.

Belize aims to stimulate the growth of commercial agriculture through CARICOM. However, Belizean trade with the rest of the Caribbean is small compared to that with the United States and Europe. The country is a beneficiary of the Caribbean Basin Initiative (CBI) program, which forms part of the U.S.-Caribbean Basin Trade Partnership Act--signed into law by President Clinton on May 8, 2000--a comprehensive U.S. Government program designed to stimulate investment in Caribbean nations by providing duty-free access to the U.S. market for most Caribbean products. Significant U.S. private investments in citrus and shrimp farms have been made in Belize under CBI. U.S. trade preferences allowing for duty-free re-import of finished apparel cut from U.S. textiles have significantly expanded the apparel industry. European Union (EU) and U.K. preferences also have been vital for the expansion and prosperity of the sugar and banana industries.