HS Icon Bananas

0803 (Harmonized System 1992 for 4-digit)

World Trade (2018): $14B, Rnk 260 / 1225

Top Exporter (2018): $3.37B, Ecuador

Top Importer (2018): $2.59B, United States

Export Growth (CAGR)(2017 - 2018): 2.08%, Rnk 1038 / 1225

Mean Tariff (2018): 16.1%, Rnk 166 / 1259

Share of World Trade (2018): 0.076%, Rnk 260 / 1225

Overview:  This page contains the latest trade data of Bananas. In 2018, Bananas were the world's 260th most traded product, with a total trade of $14B. Between 2017 and 2018 the exports of Bananas grew by 2.08%, from  $13.7B to $14B. Trade in Bananas represent 0.076% of total world trade.

Exports: In 2018 the top exporters of Bananas  were Ecuador ($3.37B), Philippines ($1.82B), Guatemala ($1.35B), Costa Rica ($1.22B), and Colombia ($1.05B).

Imports: In 2018 the top importers of Bananas were United States ($2.59B), Germany ($960M), Belgium-Luxembourg ($846M), China ($828M), and Japan ($825M).

Tariffs: In 2018 the average tariff for Bananas was 16.1%, been the 166 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Bananas are Cyprus (175%), Turkey (145%), Thailand (113%), Taiwan (99.3%), and Belize (76.3%). The countries with the lowest tariffs are Mauritius (0%), United Arab Emirates (0%), Hong Kong (0%), Kuwait (0%), and Oman (0%).

Exporters and Importers

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Trade By Country

Top Origin (2018): Ecuador, $3.37B

Top Destination (2018): United States, $2.59B

Bananas are the world's 260th most traded product.

In 2018, the top exporters of Bananas were Ecuador ($3.37B), Philippines ($1.82B), Guatemala ($1.35B), Costa Rica ($1.22B), and Colombia ($1.05B).

In 2018, the top importers of Bananas were United States ($2.59B), Germany ($960M), Belgium-Luxembourg ($846M), China ($828M), and Japan ($825M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Netherlands, $234M

Top Destination Growth (2017 - 2018): China, $318M

Between 2017 and 2018, the exports of Bananas grew the fastest in Netherlands ($234M), United States ($217M), Philippines ($206M), Belgium-Luxembourg ($121M), and France ($43M).

Between 2017 and 2018, the fastest growing importers of Bananas were China ($318M), Canada ($103M), France ($65.5M), Japan ($61.2M), and Czechia ($59.9M).

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Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Bananas.

In 2018,  market concentration measured using Shannon Entropy, was 4.07. This means that most of the exports of Bananas are explained by 16 countries.

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TOP NET EXPORTER (2018): Ecuador, $3.37B

TOP NET IMPORTER (2018): United States, $2.34B

This map shows which countries export or import more of Bananas. Each country is colored based on the difference in exports and imports of Bananas during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Bananas were Ecuador ($3.37B), Philippines ($1.82B), Guatemala ($1.35B), Costa Rica ($1.22B), and Colombia ($1.04B).

In 2018, the countries that had a largest trade value in imports than in exports of Bananas were United States ($2.34B), Japan ($825M), China ($809M), Germany ($728M), and Russia ($633M).

Trade Forecasts

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This section shows forecasts for total trade for Bananas. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Import Tariffs

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In 2018, the average tariff for importing Bananas was 16.1%.  The countries with the highest tariffs for importing Bananas were Cyprus (175%), Turkey (145%), Thailand (113%), Taiwan (99.3%), and Belize (76.3%).

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Product Complexity

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Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.