Somalia: Banana Market 2020

Banana Market Size in Somalia

The revenue of the banana market in Somalia amounted to $X in 2018, dropping by -X% against the previous year. In general, banana consumption continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2012 when the market value increased by X% y-o-y. Over the period under review, the banana market reached its maximum level at $X in 2007; however, from 2008 to 2018, consumption remained at a lower figure.

Banana Production in Somalia

In value terms, banana production amounted to $X in 2018 estimated in export prices. Over the period under review, banana production continues to indicate a perceptible decrease. The pace of growth was the most pronounced in 2012 when production volume increased by X% year-to-year. Somalia banana production peaked at $X in 2007; however, from 2008 to 2018, production failed to regain its momentum.

In 2018, the average yield of bananas in Somalia totaled X ton per ha, leveling off 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 2009 when yield increased by X% y-o-y. The global banana yield peaked in 2018 and is expected to retain its growth in the immediate term. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

Banana harvested area in Somalia stood at X ha in 2018, declining by -X% against the previous year. Over the period under review, the banana harvested area continues to indicate a noticeable contraction. The pace of growth appeared the most rapid in 2008 with a decrease of -X% against the previous year. The global banana harvested area peaked at X ha in 2007; however, from 2008 to 2018, harvested area remained at a lower figure.

Banana Exports

Exports from Somalia

Banana exports from Somalia amounted to X tons in 2018, increasing by X% against the previous year. Over the period under review, banana exports continue to indicate strong growth. The pace of growth was the most pronounced in 2012 with an increase of X% year-to-year. Somalia exports peaked in 2018 and are expected to retain its growth in the immediate term.

In value terms, banana exports stood at $X in 2018. Over the period under review, banana exports continue to indicate remarkable growth. The pace of growth was the most pronounced in 2012 when exports increased by X% y-o-y. Somalia exports peaked at $X in 2013; however, from 2014 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 committing 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) held 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. Guatemala (+X p.p.), the Netherlands (+X p.p.), Mexico (+X p.p.) and Ecuador (+X p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2007 to 2018, the average annual rate of growth in terms of value in Ecuador stood at +X%. The remaining exporting countries recorded the following average annual rates of exports growth: Costa Rica (+X% per year) and Guatemala (+X% per year).

Export Prices by Country

The banana export price in Somalia stood at $X per ton in 2018, remaining constant against the previous year. In general, the banana export price continues to indicate a slight contraction. The most prominent rate of growth was recorded in 2012 an increase of X% y-o-y. Somalia export price peaked at $X per ton in 2013; however, from 2014 to 2018, export prices stood at a somewhat lower figure.

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 Somalia

In 2018, the banana imports into Somalia stood at X tons, dropping by -X% against the previous year. In general, banana imports continue to indicate a precipitous descent. The pace of growth appeared the most rapid in 2012 with an increase of X% year-to-year. In that year, banana imports reached their peak of X tons. From 2013 to 2018, the growth of banana imports remained at a lower figure.

In value terms, banana imports totaled $X in 2018. In general, banana imports continue to indicate a drastic shrinkage. The pace of growth was the most pronounced in 2012 with an increase of X% year-to-year. Over the period under review, banana imports attained their maximum at $X in 2007; however, from 2008 to 2018, imports stood at a somewhat lower figure.

Imports by Country

The U.S. was the key importer of bananas in the world, with the volume of imports resulting at X tons, which was near X% of total imports in 2018. It was distantly followed by Russia (X tons), Germany (X tons), Belgium (X tons), China (X tons) and the UK (X tons), together comprising a 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) followed a long way behind the leaders.

From 2007 to 2018, average annual rates of growth with regard to banana imports into the U.S. stood at +X%. 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. While the share of the U.S. (+X p.p.), China (+X p.p.), Russia (+X p.p.) and the Netherlands (+X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2007 to 2018, the average annual growth rate of value in the U.S. amounted to +X%. 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 Somalia stood at $X per ton in 2018, jumping by X% against the previous year. In general, the banana import price continues to indicate a remarkable increase. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. In that year, the import prices for bananas attained their peak level and is likely to continue its growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2018, 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