Dominican Republic: Banana Market 2025

Banana Market Size in the Dominican Republic

The Dominican banana market stood at $X in 2022, therefore, remained relatively stable against the previous year. In general, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +66.2% against 2019 indices. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Banana Production in the Dominican Republic

In value terms, banana production totaled $X in 2022 estimated in export price. Overall, production, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 36%. Banana production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

In 2022, the average banana yield in the Dominican Republic amounted to X tons per ha, standing approx. at the year before. In general, the yield saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the yield increased by 7.3% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2014 to 2022, the growth of the average banana yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of bananas production in the Dominican Republic dropped to X ha, falling by -2% compared with the previous year's figure. The harvested area increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2014 when the harvested area increased by 9.2%. The banana harvested area peaked at X ha in 2021, and then fell modestly in the following year.

Banana Exports

Exports from the Dominican Republic

Banana exports from the Dominican Republic contracted to X tons in 2022, waning by -1.5% against the year before. Overall, exports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of 278%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, banana exports fell to $X in 2022. Over the period under review, exports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 386% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

The UK (X tons), the Netherlands (X tons) and Germany (X tons) were the main destinations of banana exports from the Dominican Republic, with a combined 71% share of total exports. Sweden, Austria, Trinidad and Tobago, Portugal, Ireland, Haiti, Switzerland, Belgium, France and Spain lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sweden (with a CAGR of +59.5%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), the Netherlands ($X) and Germany ($X) were the largest markets for banana exported from the Dominican Republic worldwide, together comprising 70% of total exports. Sweden, Austria, Switzerland, Portugal, Trinidad and Tobago, Ireland, Belgium, Haiti, France and Spain lagged somewhat behind, together comprising a further 24%.

Sweden, with a CAGR of +66.2%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average banana export price stood at $X per ton in 2022, which is down by -2.4% against the previous year. Overall, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, banana export price increased by +9.6% against 2018 indices. The most prominent rate of growth was recorded in 2016 an increase of 35% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Trinidad and Tobago ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+12.0%), while the prices for the other major destinations experienced more modest paces of growth.

Banana Imports

Imports into the Dominican Republic

In 2022, the amount of bananas imported into the Dominican Republic skyrocketed to X tons, with an increase of 41% compared with the year before. In general, imports, however, continue to indicate a dramatic curtailment. The growth pace was the most rapid in 2017 when imports increased by 122%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, banana imports shrank dramatically to $X in 2022. Overall, imports, however, continue to indicate a dramatic downturn. The pace of growth was the most pronounced in 2017 with an increase of 135%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X tons) was the main banana supplier to the Dominican Republic, with a approx. 99% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from India amounted to -5.6%.

In value terms, India ($X) constituted the largest supplier of bananas to the Dominican Republic.

From 2012 to 2022, the average annual rate of growth in terms of value from India totaled -2.2%.

Import Prices by Country

In 2022, the average banana import price amounted to $X per ton, dropping by -43.4% against the previous year. Over the period under review, the import price, however, saw a perceptible increase. The most prominent rate of growth was recorded in 2018 an increase of 118%. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +67.7% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :