In 2019, Mexico achieved a new banana export record with shipments worth 293 million dollars, i.e. 8.1% more than in the previous year, according to data from the Bank of Mexico.
The main market for Mexican banana exports, both fresh and dehydrated, was the United States with nearly 74% of shipments. Other outstanding destination markets included Japan, the Netherlands, Italy, Russia, and the United Kingdom.
According to the United Nations Food Organization and Agriculture (FAO), banana and tropical-fruit exports have gained importance as a source of income for many producing countries in Latin America and the Caribbean (LAC).
The growing demand in the import markets fueled price rises for most tropical fruits, making them an attractive export diversification option over traditional, lower-value agricultural products.
With an abundant endowment of tropical land and agro-climatic conditions very favorable for the cultivation of tropical products, Latin America and the Caribbean are the second main production area of bananas and tropical fruits in the world, after Asia.
Between 2016 and 2018, according to the FAO, Latin America and the Caribbean accounted for nearly 25% of the total world production, equivalent to 54 million tons.