Banana Exports Help Honduran Economy

Honduras’s banana exports this year are estimated to have reached nearly four hundred million dollars in what will be a record season for the industry. This is the highest amount Honduras has earned with its banana exports in the last 10 years, and was predicted in December of last year.

Honduras Banana exports from January to September this year showed a 27% year-on-year increase at two hundred ninety-seven million United States dollars. The increase in income was due to the international price of bananas rising by 19.5% – the price per box of 40 lbs. increased from US$12.56 to US$15.02.

Bananas are the second most important export for the Honduran economy after coffee, and the U.S. is Honduras’s chief importer.

Back in 1993, Honduras was the largest banana exporter in the world but its position changed following the E.U. decision to impose tariffs on Latin American bananas to favor former colonies in Asia, Pacific and Caribbean.

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