Guatemala dominated the world’s largest banana export market, the United States, over the last decade, with stability in its percentage share.
From 2015 to 2024, Guatemala’s share of this market fluctuated between 35.9% and 40.7%, remaining the top supplier for the last 10 years.
The vast majority of banana imports to the United States originate from Latin American countries. In fact, nine of the 10 largest suppliers are from the region.
World’s largest banana export market
In 2024, the United States imported bananas with a customs value of $2.829 billion, a year-on-year increase of 3%, according to Department of Commerce data.
Bananas are the world’s largest fruit crop by volume and are widely consumed around the world. Hundreds of banana varieties exist, but the vast majority cannot be marketed due to storage and transportation constraints.
The following are the main suppliers in the banana export market to the United States, in millions of dollars during 2024, and their year-on-year growth rates:
- Guatemala: 1,067 (-2 percent).
- Ecuador: 521 (+27 percent).
- Costa Rica: 498 (+1 percent).
- Honduras: 253 (-3 percent).
- Colombia: 226 (+4 percent).
- Mexico: 198 (-7 percent).
- Peru: 27 (+14 percent).
- Panama: 17 (-52 percent).
- Dominican Republic: 5 (+95 percent).
- Thailand: 5 (+45 percent).
However, Guatemala’s share of the banana export market to the United States declined in the last two years, from 40.7% in 2022 to 39.6% in 2023 and then to 37.7% in 2024.
World consumption
Bananas, mango, pineapple, avocado and papaya are transforming agricultural markets. These five fresh tropical fruits not only nourish millions. They also sustain the incomes of smallholder farmers in tropical countries.
In recent decades, their demand has grown strongly. On the one hand, incomes have risen in emerging and developed markets. On the other hand, consumer tastes have changed. Added to this are improvements in transportation and logistics. The result: more trade and more global consumption.
Today, world production of these tropical fruits generates revenues of some 100 billion dollars, according to OECD and FAO data.