Bananas market in El Salvador

Earlier Report Observations

The market volume for fresh or dried bananas in El Salvador experienced fluctuations between 2018 and 2023. Starting at 87 412 t in 2018, it fell to 82 235 t in 2019 and further to 80 294 t in 2020. A recovery occurred in 2021, reaching 83 004 t, but was followed by another decline to 80 625 t in 2022 and stabilization at 80 368 t in 2023.

The drop in market volume in 2022 coincided with global factors that impacted banana supply chains. Rising production costs, lower international demand, and geopolitical conflicts such as the Russia-Ukraine war affected worldwide availability and prices, likely reducing import flows into El Salvador. As a major regional importer relying on Nicaraguan bananas through intermediary networks, the Salvadoran market was sensitive to these external pressures. By 2023, the market stabilized as regional supply patterns from neighboring producers like Nicaragua and Costa Rica continued to anchor trade.

Domestic production also varied during the period, but the overall market size remained primarily driven by imports, which trended downward from over 70 000 t in 2018 to around 65 000 t by 2023. This gradual import reduction contributed to the overall contraction in market volume over the six-year span.

Production bananas in El Salvador

In kind, 2018-2021, t

Top producers of bananas, 2018-2021

World map of production of bananas, 2018-2021

Banana production in El Salvador rebounded after two years of decline. In 2021, the country produced 15 396 tons of bananas, marking a sharp increase of 56.3% compared to the previous year. Over the 2018-2021 period, overall production decreased by 10.7%, with a compound annual growth rate of 3.7%. The lowest production level was recorded in 2020 at 9 848 tons, while the largest annual decline occurred in 2019 at 29.2%.

Annual dynamics of production in El Salvador in kind, 2018-2021, t

In value, 2018-2021, K $ US

The data shows irregular fluctuations, reflecting a volatile market environment. Banana output value in El Salvador reached 85 996 thousand US dollars in 2021, representing a substantial 95.6% year-over-year increase. The lowest value was recorded in 2020 at 43 970 thousand US dollars, with the largest decline occurring in 2019 at 30.4%. Between these years, values varied by a factor of two.

Annual dynamics of production in El Salvador in value, 2018-2021, K $ US

Exports bananas from El Salvador

Exports in kind, t

The market displayed an unstable trend throughout the period. El Salvador exported 1 ton of bananas in 2021, up 11.1% from the previous year. The lowest export volume was recorded in 2019 at 0.1 tons, with the largest decline that year reaching 30.5%. The most significant increase occurred in 2020 at 858.0%. Between 2019 and 2021, export volumes fluctuated dramatically with a peak-to-trough difference of 10.6 times.

Annual dynamics of product's exports from El Salvador in kind, 2018-2021, t

From 2018 to 2021, Guatemala dominated El Salvador's banana export structure in volume terms, accounting for 96.7% of total flows.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from El Salvador in kind, 2018-2021

Exports in value, K $ US

The data reveals irregular changes, indicating a volatile market environment. In 2021, El Salvador's banana exports were valued at 3 thousand US dollars, increasing by 39.0% year-over-year. The lowest value was recorded in 2019 at 0.2 thousand US dollars, with the largest decline that year reaching 31.7%. The most substantial increase occurred in 2020 at 1 030.8%. Between 2019 and 2021, export values changed by a factor of 16.

Annual dynamics of product's exports from El Salvador in value, 2018-2021, K $ US

During 2018-2021, the geographical distribution of banana export values showed strong dependence on Guatemala, which absorbed 98.7% of total flows.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from El Salvador in value, 2018-2021

Imports bananas to El Salvador

Imports in kind, t

In 2021, El Salvador imported 67 608 tons of bananas, a decrease of 4.0% compared to 2020. Over the 2018-2021 period, imports declined by 3.6%, with a compound annual growth rate of 1.2%. The highest import volume was recorded in 2020 at 70 446 tons, while the largest increase occurred that same year at 0.6%.

Annual dynamics of product's imports to El Salvador in kind, 2018-2021, t

From 2018 to 2021, Guatemala and Nicaragua formed the dominant pair of sources for banana imports in volume terms, jointly accounting for 86.9% of total flows, with other countries representing the remaining share.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to El Salvador in kind, 2018-2021

Imports in value, K $ US

After two consecutive years of growth, El Salvador's banana import value declined. In 2021, imports stood at 6 306 thousand US dollars, down 4.0% from the previous year. Between 2018 and 2021, import values increased by 17.9%, equivalent to an annualized rate of 5.6%. The highest value was recorded in 2020 at 6 568 thousand US dollars, while the largest increase occurred in 2019 at 22.4%.

Annual dynamics of product's imports to El Salvador in value, 2018-2021, K $ US

During 2018-2021, Guatemala and Nicaragua dominated El Salvador's banana imports in value terms, together accounting for 88.1% of total flows, with other destinations making smaller individual contributions.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to El Salvador in value, 2018-2021