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Export News
17-01-2025
Global exports of bananas amounted to US$14.4 billion in 2023, marking a 4.1% increase compared to 2019, when the value of banana shipments was $13.9 billion.
The value of bananas exported worldwide rose by 6.7% from $13.5 billion in 2022 to $14.4 billion in 2023.
The five leading exporters—Ecuador, Philippines, Costa Rica, Guatemala, and the Netherlands—together accounted for nearly three-fifths (57.4%) of total global banana exports in 2023.
In terms of region, Latin America (excluding Mexico) along with the Caribbean led the way in banana exports, with shipments valued at $8 billion, representing 55.5% of the global total.
Europe accounted for 19.4% of worldwide banana exports, while exporters in Asia contributed 15.7%.
North America made up 5.3%, followed by Africa at 4.1%. Oceania, with contributions from Australia and Pitcairn, had a very small share of 0.003%.
For reference, bananas and plantains fall under the Harmonized Tariff System (HTS) code 0803 for fresh or dried varieties.
Top 15 Banana Exporting Countries in 2023
Here are the top 15 banana-exporting countries by dollar value in 2023:
· Ecuador: US$3.8 billion (26.3% of global banana exports)
· Philippines: $1.22 billion (8.5%)
· Costa Rica: $1.19 billion (8.2%)
· Guatemala: $1.15 billion (8%)
· Netherlands: $926.3 million (6.4%)
· Colombia: $915.2 million (6.3%)
· Belgium: $753.8 million (5.2%)
· United States: $527.1 million (3.7%)
· Germany: $314.2 million (2.2%)
· Vietnam: $312 million (2.2%)
· Honduras: $303.2 million (2.1%)
· India: $251.4 million (1.7%)
· Cameroon: $249.4 million (1.7%)
· Mexico: $240.5 million (1.7%)
· France: $205.7 million (1.4%)
Together, these top 15 exporters represented 85.6% of the global banana export market in 2023.
Fastest-Growing Banana Exporters
The fastest-growing banana exporters from 2022 to 2023 include:
· India: +54.4%
· Germany: +24.8%
· Netherlands: +16.9%
· Costa Rica: +16.8%
· France: +14%
· Philippines: +11.2%
In contrast, the countries with the largest declines in banana exports were:
· Colombia: -14.7% from 2022
· Cameroon: -9.5%
· Mexico: -9%
Leading Banana Exporting Companies
Several major companies dominate the global banana export market. The largest banana exporters in 2024, according to Tendata, include:
1.AGZULASA CIA LTDA: $3.16 billion (24.47% of global banana exports)
2.UNION DE BANANEROS ECUATORIANOS SA UBESA: $1.22 billion (9.47%)
3.INTERBANANA EXPORT INTERBANANAEXPORT S.A.: $495.97 million (3.84%)
4.C.I. UNION DE BANANEROS DE URABA S.A. UNIBAN: $409.73 million (3.18%)
5.ASOCIACION DE AGRICULTORES BANANEROS DEL LITORAL ASOAGRIBAL: $404.68 million (3.14%)
6.DOLE PHILIPPINES INC: $263.43 million (2.04%)
7.REYBANPAC REY BANANO DEL PACIFICO CL: $233.19 million (1.81%)
8.EXPORTADORA DE FRUTAS EXPORTVAL S.A.: $188.52 million (1.46%)
9.C.I. TECNICAS BALTIME DE COLOMBIA S.A.: $181.78 million (1.41%)
10.LUDERSON S.A.: $180.38 million (1.4%)
Together, the top four companies hold around 75% of the global market share for bananas, according to Tendata statistics.
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Conclusion
In 2023, global banana exports showed steady growth, with Ecuador, Philippines, and Costa Rica continuing to lead the market. Despite some regional shifts, Latin America remains the powerhouse of banana production and export, particularly with Ecuador as the undisputed leader. Key players like AGZULASA and DOLE PHILIPPINES are among the top exporters contributing to the global supply chain. As demand for bananas remains strong, the industry will likely continue to see growth, with emerging markets such as India and Vietnam gaining importance.
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