Ecuador's Exports Boom: January 2023

Ecuadorian exports of bananas and plantains increased by 18% in export value in January 2023, with the European Union purchasing $177 million worth of bananas out of the total $303 million exported to the common market. The increase in volume and sales of bananas to Europe has been particularly significant, with a 29% increase in sales and volume reported. Most of the ten main products exported from Ecuador are concentrated in the food sector, with bananas being the most prominent. The robust performance of the fruit is reflected in the country’s export sales, which accounted for $1.475 billion in January 2023, representing 63% of total exports. Fedexpor provided the data, and the strong position of bananas in the European market is a significant factor in this performance.

Ecuadorian Exports Increase in January 2023, with Bananas at the Forefront

Ecuadorian exports experienced significant growth in January 2023, with sales totalling USD 1.475 billion, representing 63% of total exports, according to the Federation of Exporters of Ecuador (Fedexpor). The 11% volume growth equates to 1,049 tons of products. The country’s ten primary exported products accounted for USD 1.29 billion in sales in January, with most of them concentrated in the food sector. Bananas and plantains saw an 18% increase in export value and performed particularly well in the European Union, the United States, and China.

The European Union purchased USD 177 million worth of bananas out of the total USD 303 million exported to the common market. The performance of the fruit is also reflected in a 29% increase in both sales and volume. These figures are particularly impressive as the banana market has been hit by various challenges, including floods in Mozambique, war in Ukraine, and the Filipino banana sector’s struggle for government support.

The market for Ecuadorian bananas seems to be thriving, with the fruit making significant progress in Europe. The country’s banana exports have shown remarkable improvement in the beginning of the year in the European Union, the United States, and China, indicating the fruit’s robust position in the market. The increase in volume and sales of bananas to Europe has been particularly significant, with a 29% increase in sales and volume reported.