Banana Market - Ecuador Is the World's Leading Exporter of Bananas, with $2.6B (2014)

Tropical And Subtropical Fruits June 15, 2015
Author: Svetlana Sitkova
Head of Industrial Research Department

banana market

Ecuador dominates in the global banana trade, significantly strengthening its position in the global export structure from 18.5% in 2007 to 31.7% in 2014. It supplied 20.8% of its total exports on the banana market into the Russian Federation in 2014, accounting for 98.2% of the Russian Federation's total imports.

Overall, the global banana trade reached 8.3 billion USD, with a CAGR of 2.3% from 2007 to 2014. In physical terms, it showed steady growth, rising from 18.8 million tonnes in 2007 to 21.1 million tonnes in 2014.

In 2014, the U.S. (20.8%), Belgium (12.2%), Germany (9.1%), the United Kingdom (6.7%) and China (6.6%) were the leading destinations of banana imports, together making up 55.4% of global imports. The share of China increased significantly (+5.5 percentage points).

Ecuador and Belgium were the main global suppliers of bananas in 2014 with a combined share of 47.9% of global exports. However, the fastest growing exporters from 2007 to 2014 were Mexico (+36.6% per year) and the Dominican Republic (+23.7% per year).

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Source: World: Bananas - Market Report. Analysis And Forecast To 2020