Philippines bananas exports by country rebounded to US$618.8 million in 2016, up by 40.7% from $439.9 million for 2015.
Over a five-year time span, the value of Filipino exported bananas declined -6.5% from $647.9 million during 2012.
Nevertheless, the latest metrics solidify the Philippines’ position as the sixth-leading exporter of bananas behind Ecuador, Costa Rica, Belgium, Colombia and Guatemala.
Among continents, Asian countries bought $609.5 worth of exported Filipino bananas or 98.5% of total import purchases. Far behind in second place were Oceania countries at 1.3%, 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 and Latin America respectively.
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 2016:
- Japan: US$231.3 million (37.4% of total bananas exports)
- China: $144.8 million (23.4%)
- South Korea: $114.7 million (18.5%)
- United Arab Emirates: $28.8 million (4.7%)
- Iran: $24.6 million (4%)
- Kuwait: $20.1 million (3.2%)
- Saudi Arabia: $16.7 million (2.7%)
- Hong Kong: $10 million (1.6%)
- New Zealand: $8 million (1.3%)
- Malaysia: $5.8 million (0.94%)
- Singapore: $5.6 million (0.91%)
- Iraq: $3.1 million (0.5%)
- Qatar: $1.4 million (0.23%)
- North Korea: $1.1 million (0.18%)
- Mongolia: $1.1 million (0.17%)
The listed 15 countries shipped 99.7% of bananas exports from the Philippines in 2016.
Among the above countries, the fastest-growing bananas markets since 2012 were: Mongolia (up 1,201.2%), Malaysia (up 570.5%), South Korea (up 94.6%) and China (up 57.2%).
Those countries that posted declines in their Filipino bananas purchases were led by: Singapore (down -82.1%), Hong Kong (down -50.3%), Saudi Arabia (down -41.3%), New Zealand (down -40.5%) and North Korea (down -39.5%).
The Philippines posted the highest positive net exports for bananas during 2016 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$231.3 million (net export surplus down -24.8% since 2012)
- China: $144.7 million (up 57.2%)
- South Korea: $114.7 million (up 94.6%)
- United Arab Emirates: $28.8 million (down -31.8%)
- Iran: $24.6 million (up 24.2%)
- Kuwait: $20.1 million (up 53.3%)
- Saudi Arabia: $16.7 million (down -41.3%)
- Hong Kong: $10 million (down -50.3%)
- New Zealand: $8 million (down -40.5%)
- Malaysia: $5.8 million (up 570.5%)
- Singapore: $5.6 million (down -82.1%)
- Iraq: $3.1 million (no 2012 data)
- Qatar: $1.4 million (up 9.4%)
- North Korea: $1.1 million (down -39.5%)
- Mongolia: $1.1 million (up 1,201%)
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 2016 is not surprising when one considers that the Philippines imported only a small $46,000 worth of bananas.
In fact the Philippines imported bananas from only two of its trading partners–China and Japan. This contrasts with 71 countries that import bananas from the Philippines.