The sale of Ecuadorian bananas exceeded expectations during 2018. The Association of Banana Exporters of Ecuador (AEBE) exported 344.8 million boxes of 18.14 kilograms, i.e. 21 million boxes or 6% more than in 2017.
At the beginning of that year, the export forecast was 330 million boxes, taking into account the shipping rate of the last three years.
The volume exported in 2018 contributed approximately 2.793 billion dollars to the trade balance.
This result was due to the performance of exports in the European Union (EU).
The following markets had a negative performance: Russia (-1.09%); Southern Cone (-7.63%); EFTA (-15.68%) and Oceania (-6.73%).
The decrease in Russia was generated by the economic problems that led to a depreciation of the rouble against the US dollar, while the decrease in the Southern Cone was caused by the economic problems of Argentina, which significantly reduced shipments to this market.
Asia also grew due to the increase in demand from China, of around 60%, which more than offset the decrease in shipments to Japan.