British Virgin Islands: Banana Market 2020

Banana Market Size in British Virgin Islands

The revenue of the banana market in British Virgin Islands amounted to $X in 2018, growing by X% against the previous year. Overall, banana consumption continues to indicate remarkable growth. The pace of growth was the most pronounced in 2015 when the market value increased by X% year-to-year. British Virgin Islands banana consumption peaked in 2018 and is expected to retain its growth in the immediate term.

Banana Production in British Virgin Islands

In value terms, banana production stood at $X in 2018 estimated in export prices. Over the period under review, banana production continues to indicate a remarkable expansion. The pace of growth appeared the most rapid in 2016 when production volume increased by X% year-to-year. British Virgin Islands banana production peaked in 2018 and is likely to see steady growth in the near future.

In 2018, the average yield of bananas in British Virgin Islands totaled X ton per ha, stabilizing at the previous year. In general, the banana yield continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when yield increased by X% year-to-year. Over the period under review, the banana yield reached its maximum level at X ton per ha in 2008; however, from 2009 to 2018, yield failed to regain its momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2018, approx. X ha of bananas were harvested in British Virgin Islands; growing by X% against the previous year. The harvested area increased at an average annual rate of +X% from 2007 to 2018; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2012 when harvested area increased by X% year-to-year. In that year, the banana harvested area reached its peak level of X ha. From 2013 to 2018, the growth of the banana harvested area remained at a lower figure.

Banana Exports

Exports from British Virgin Islands

In 2018, the exports of bananas from British Virgin Islands totaled X kg, coming down by -X% against the previous year. Over the period under review, banana exports continue to indicate a precipitous decrease. The pace of growth appeared the most rapid in 2014 with a decrease of -X% y-o-y. Over the period under review, banana exports attained their maximum at X kg in 2007; however, from 2008 to 2018, exports stood at a somewhat lower figure.

In value terms, banana exports stood at $X in 2018. Over the period under review, banana exports continue to indicate a drastic contraction. The most prominent rate of growth was recorded in 2016 when exports increased by X% year-to-year. Over the period under review, banana exports attained their peak figure at $X in 2012; however, from 2013 to 2018, exports failed to regain their momentum.

Exports by Country

In 2018, Ecuador (X tons), distantly followed by Costa Rica (X tons), Guatemala (X tons), the Philippines (X tons), Colombia (X tons) and Belgium (X tons) represented the largest exporters of bananas, together generating X% of total exports. The Netherlands (X tons), Honduras (X tons), the U.S. (X tons), Mexico (X tons), Cote d'Ivoire (X tons) and Cameroon (X tons) occupied a minor share of total exports.

Ecuador experienced a relatively flat trend pattern of bananas exports. At the same time, Mexico (+X%), the Netherlands (+X%), Guatemala (+X%), Cote d'Ivoire (+X%), Cameroon (+X%), the U.S. (+X%) and Belgium (+X%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. Honduras, Colombia, Costa Rica and the Philippines experienced a relatively flat trend pattern. While the share of Guatemala (+X p.p.), the Netherlands (+X p.p.), Mexico (+X p.p.) and Ecuador (+X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ecuador ($X) remains the largest banana supplier from British Virgin Islands, comprising X% of global exports. The second position in the ranking was occupied by Costa Rica ($X), with a X% share of global exports. It was followed by Guatemala, with a X% share.

From 2007 to 2018, the average annual growth rate of value in Ecuador amounted to +X%. In the other countries, the average annual rates were as follows: Costa Rica (+X% per year) and Guatemala (+X% per year).

Export Prices by Country

In 2018, the banana export price in British Virgin Islands amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the banana export price continues to indicate remarkable growth. The pace of growth appeared the most rapid in 2016 an increase of X% year-to-year. British Virgin Islands export price peaked in 2018 and is likely to continue its growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was the Netherlands ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Cameroon, while the other leaders experienced more modest paces of growth.

Banana Imports

Imports into British Virgin Islands

In 2018, the banana imports into British Virgin Islands stood at X tons, going up by X% against the previous year. In general, banana imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2015 when imports increased by X% year-to-year. In that year, banana imports reached their peak of X tons. From 2016 to 2018, the growth of banana imports failed to regain its momentum.

In value terms, banana imports stood at $X in 2018. Over the period under review, banana imports continue to indicate skyrocketing growth. The pace of growth was the most pronounced in 2015 with an increase of X% year-to-year. British Virgin Islands imports peaked in 2018 and are expected to retain its growth in the near future.

Imports by Country

In 2018, the U.S. (X tons) was the largest importer of bananas, constituting X% of total imports. Russia (X tons) held the second position in the ranking, followed by Germany (X tons), Belgium (X tons), China (X tons) and the UK (X tons). All these countries together held near X% share of total imports. Japan (X tons), Italy (X tons), France (X tons), the Netherlands (X tons), Canada (X tons) and Iran (X tons) took a little share of total imports.

Imports into the U.S. increased at an average annual rate of +X% from 2007 to 2018. At the same time, China (+X%), the Netherlands (+X%), Iran (+X%), Russia (+X%), France (+X%), Canada (+X%) and Italy (+X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. The UK, Belgium, Japan and Germany experienced a relatively flat trend pattern. From 2007 to 2018, the share of the U.S., China, Russia and the Netherlands increased by +X%, +X%, +X% and +X% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X) constitutes the largest market for imported bananas into British Virgin Islands, comprising X% of global imports. The second position in the ranking was occupied by Belgium ($X), with a X% share of global imports. It was followed by Russia, with a X% share.

In the U.S., banana imports expanded at an average annual rate of +X% over the period from 2007-2018. The remaining importing countries recorded the following average annual rates of imports growth: Belgium (-X% per year) and Russia (+X% per year).

Import Prices by Country

The banana import price in British Virgin Islands stood at $X per ton in 2018, picking up by X% against the previous year. Over the period under review, the banana import price continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2016 an increase of X% year-to-year. British Virgin Islands import price peaked in 2018 and is likely to continue its growth in the near future.

Prices varied noticeably by the country of destination; the country with the highest price was Belgium ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform