Cuba: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
Upper Middle Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Developing |
| Economic Trivia | Industrial production accounts for 37% of Cuba's GDP and employs 24% of its population. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Data unavailable |
| Top Industries Source: CIA World Factbook | Petroleum; Nickel/Cobalt; Pharmaceuticals; Tobacco |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $254,864,786,028 (2015) |
| GDP Growth Rate (annual %) | 1.254% (2021) |
| GDP Per Capita, PPP (current international) | $22,377 (2015) |
GDP Country Rank 66/197 (2015)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | Data unavailable |
| External debt stocks, total (DOD, current US$) | Data unavailable |
| Total tax rate (% of commercial profits) | Data unavailable |
| Real Interest Rate (5 year average %) | Data unavailable |
| Manufacturing, value added (% of GDP) | 10.535% (2021) |
| Current Account Balance (BoP, current US$) | Data unavailable |
Labor and Employment [1]
| Labor Force, Total | 5,156,812 (2022) |
| Employment in Agriculture (% of total employment) | 17.721% (2021) |
| Employment in Industry (% of total employment) | 17.112% (2021) |
| Employment in Services (% of total employment) | 65.166% (2021) |
| Unemployment Rate | 1.386% (2022) |
Trade [1]
| Imports of goods and services (current US$) | $8,067,000,000 (2020) |
| Exports of goods and services (current US$) | $8,769,000,000 (2020) |
| Total Merchandise Trade (% of GDP) | 8.321% (2020) |
| FDI, net inflows (BoP, current US$) | $110,000,000 (2011) |
| Commercial Service Exports (current US$) | Data unavailable |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Cuba’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.