>Banana republic, derogatory term for a country that has an economy dependent solely on revenue from exporting a single product or commodity. As a result, such countries are typically controlled by foreign-owned companies or industries. Banana republics usually have a highly stratified socioeconomic structure, with a small ruling class that controls access to wealth and resources, and are politically unstable. The term has its origins in the development of banana plantations by American corporations and their exploitation of land and workers in Central and South America beginning in the late 19th century.

- Dictionary Brittanica.