Philippines bananas exports by country surged to US$1.128 billion in 2017. That dollar amount reflects an 82.3% increase over $618.8 million during 2016.
Over a five-year time span, the value of exported Filipino bananas expanded by 17.1% from $963.4 million in 2013.
The latest metrics show that the Philippines is the world’s second-leading exporter of bananas behind Ecuador, overtaking Belgium, Costa Rica, Colombia and Guatemala in the latest reporting period.
Among continents, Asian countries bought $1.119 billion worth of exported Filipino bananas or 99.1% of overall import purchases. Far behind in second place were Oceania countries at 0.6%, mainly New Zealand and to a lesser extent Australia. Just 0.2% of Filipino bananas were exported to Europe while 0.1% arrived in North America.
The 4-digit Harmonized Tariff System code prefix is 0803 for fresh or dried bananas and plantains.
Philippines Bananas Exports by Country
Below are the 15 countries that accounted for the highest dollar value worth of bananas exported from the Philippines during 2017.
- Japan: US$390.2 million (34.6% of total bananas exports)
- China: $290.2 million (25.7%)
- South Korea: $176.6 million (15.6%)
- United Arab Emirates: $94.8 million (8.4%)
- Iran: $78.5 million (7%)
- Saudi Arabia: $20.5 million (1.8%)
- Iraq: $20.2 million (1.8%)
- Hong Kong: $16.9 million (1.5%)
- Kuwait: $11.9 million (1.1%)
- New Zealand: $6.6 million (0.6%)
- Malaysia: $5.2 million (0.5%)
- Singapore: $5.2 million (0.5%)
- Qatar: $4.3 million (0.4%)
- Russia: $1.7 million (0.1%)
- Bahrain: $1.4 million (0.1%)
The listed 15 countries shipped 99.6% of bananas exported from the Philippines in 2017.
Among the top exporters, the fastest-growing bananas exporters since 2013 were: Iran (up 111.5%), China (up 96%), South Korea (up 57%) and Bahrain (up 50.4%).
Those countries that posted declines in their exported bananas sales were led by: Singapore (down -87.2%), Russia (down -82.9%), New Zealand (down -62.3%), Kuwait (down -57%) and Malaysia (down -53.5%).
The Philippines posted the highest positive net exports for bananas during 2017 with the following trade partners. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports. Thus, the statistics below present the surplus that the Philippines earned. In other words, the difference between the value of Filipino bananas exports and its import purchases for that same commodity.
- Japan: US$390.2 million (net export surplus up 8.7% since 2013)
- China: $290.2 million (up 96%)
- South Korea: $176.6 million (up 57%)
- United Arab Emirates: $94.8 million (up 7%)
- Iran: $78.5 million (up 111.5%)
- Saudi Arabia: $20.5 million (down -35.8%)
- Iraq: $20.2 million (no 2013 data)
- Hong Kong: $16.9 million (up 24.6%)
- Kuwait: $11.9 million (down -57%)
- New Zealand: $6.6 million (down -62.3%)
- Malaysia: $5.2 million (down -53.5%)
- Singapore: $5.2 million (down -87.2%)
- Qatar: $4.3 million (down -25.9%)
- Russia: $1.7 million (down -82.9%)
- Bahrain: $1.4 million (up 50.4%)
Japan, a densely populated and neighboring island, propelled the Philippines to its highest surplus win in the international trade of bananas. This positive cashflow highlights the competitive advantage for this specific product category that the Philippines holds over the above trade partners, and the fact that Japan is the best customer for Philippine bananas exports.
The Philippines experienced no bananas-related deficits with any of its trading partners. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports. Thus, the statistics below present the deficit between the value of Filipino bananas import purchases and its exports for that same commodity.
The zero-deficit report for 2017 is not surprising when one considers that the Philippines imported only a small $34,000 worth of bananas.
In fact the Philippines imported bananas from only one of its trading partners, namely China. This contrasts with 35 countries that import bananas from the Philippines.