Banana plantation
Banana plants may grow with varying degrees of success in diverse climatic conditions, but commercial banana plantations are primarily found in equatorial regions, in banana exporting countries. The four leading banana export countries worldwide are Ecuador, Costa Rica, Philippines, and Colombia. Ecuador provides more than 33% of global banana exports. In 2004, banana producing countries totaled 130. Production, as well as exports and imports of bananas, are nonetheless concentrated in a few equatorial countries. 75% of total banana production in 2004 was generated in 10 counties. India, Ecuador, Brazil and China produced half of total bananas. Latin American and Caribbean countries led banana production up to the 1980s, and Asian nations took the lead in banana production during the 1990s. African production levels have remained mostly unchanged.
Economy of Saint Vincent and the Grenadines
The St. Vincent economy is heavily dependent on agriculture being the world’s leading producer of arrowroot and grows other exotic fruit, vegetables and root crops. Bananas alone account for upwards of 60% of the work force and 50% of merchandise exports. Such reliance on a single crop makes the economy vulnerable to external factors. St. Vincent's banana growers benefited from preferential access to the European market. In view of the European Union's announced phase-out of this preferred access, economic diversification is a priority.