How in demand is the Banana industry of the Philippines?

Philippines bananas exports by country rebounded to US$618.8 million in 2016, up by 40.7% from $439.9 million for 2015. In 2015, the country produced nearly 9.1m tonnes of bananas on 443,270 ha with Cavendish cultivars accounting for about 50% of national banana production, Saba, and Lakatan. Latundan and other cultivars accounted for about 11%. At the beginning of the century, as many as 90 cultivars were estimated to be grown for local consumption. Over a five-year time span, the value of Filipino exported bananas declined -6.5% from $647.9 million during 2012. Nevertheless, the latest metrics solidify the Philippines’ position as the sixth-leading exporter of bananas behind Ecuador, Costa Rica, Belgium, Colombia, and Guatemala. Among continents, Asian countries bought $609.5 worth of exported Filipino bananas or 98.5% of total import purchases. Far behind in second place were Oceania countries at 1.3%, mainly New Zealand and to a lesser extent Australia.

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