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A "banana republic" is a derogatory term for any badly-run, corrupt, poor country typically in the Caribbean or Latin America. Usually such a state would be a republic with a corrupt and authoritarian political leadership and stereo-typically the main product would be the farming of a cash-crop such as bananas. The phrase probably comes from the inter-war period when the USA through the company United Fruit made many caribbean countries (such as pre-revolution Cuba) totally dependent on the USA for exports with the USA maintaining client regimes in those countries.
Banana republic is a clothing store. They sell, clothes, shoes, perfume and sometimes furniture. They are one of the most well-known clothing companies in the world.

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