Ecuadorian banana exports experienced a slowdown during the first ten months of 2019. According to data provided by the Banana Marketing and Export Association (Acorbanec), in that period, the country exported 293.82 million boxes, i.e. 1.51% more than what the country shipped out in the same period of 2018. However, exports in that same period in 2018 and 2017 increased by 5.73% and 3.42% over the previous year, respectively. Acorbanec attributes this reduction to the decrease in purchases made by important markets, such as the European Union, the Southern Cone, and Russia, as well as to climatic factors.
One of the biggest falls took place in the European market. Exports to this market decreased by 15.74% when compared to the same period in 2018. According to the association, this happened because different countries, such as Italy, Germany, Belgium, and Poland significantly decreased their purchases "because Central American countries (especially Guatemala) reacted to the market recovery that Ecuador had thanks to the Trade Agreement, especially in 2017 and 2018."
Sales to Russia declined by 3.04% when compared to 2018, mainly because of the loss of purchasing power that the ruble had as a result of the economic sanctions imposed on Russia by the United States and the European Union. Sales to the Southern Cone decreased by 7.39%, mainly because of the increase in the price of fruit in the Argentine market due to the devaluations of its currency.
According to Arcobanec, the positive thing this year has been the high growth in China, Algeria, Saudi Arabia, United Arab Emirates, Eastern Europe, and the European Free Trade Association, EFTA.
