India (IND) and Cuba (CUB) Trade | The Observatory of Economic Complexity

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India-Cuba Trade: In 2023, India exported $89.4M to Cuba. The main products that India exported to Cuba were Rice ($77.1M), Packaged Medicaments ($3.2M), and Vaccines, blood, antisera, toxins and cultures ($1.21M). Over the past 5 years the exports of India to Cuba have decreased at an annualized rate of 0.26%, from $90.6M in 2018 to $89.4M in 2023.

In 2023, India did not export any services to Cuba.

Cuba-India Trade: In 2023, Cuba exported $4.51M to India. The main products that Cuba exported to India were Scrap Iron ($1.53M), Vaccines, blood, antisera, toxins and cultures ($906k), and Packaged Medicaments ($856k). Over the past 5 years the exports of Cuba to India have increased at an annualized rate of 2.3%, from $4.03M in 2018 to $4.51M in 2023.

In 2023, Cuba did not export any services to India.

Comparison: In 2023, India ranked 39 in the Economic Complexity Index (ECI 0.65), and 12 in total exports ($441B). That same year, Cuba ranked 82 in the Economic Complexity Index (ECI -0.42), and 159 in total exports ($1.05B).

Latest Trends

November, 2024

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Overview In November 2024, India exported $695k and imported $78k from Cuba, resulting in a positive trade balance of $617k. Between November 2023 and November 2024 the exports of India have decreased by $-55.5k (-7.4%) from $750k to $695k, while imports decreased by $-207k (-72.6%) from $285k to $78k.

Trade In November 2024, the top exports of India to Cuba were Rice(Other Than Basmoti) ($15.5M), Drug Formulations, Biologicals ($672k), Indl. Machnry For Dairy Etc ($366k), Motor Vehicle/Cars ($198k), and Cotton Fabrics, Madeups Etc. ($143k). In November 2024 the top imports of India from Cuba were Tobacco Manufactured ($195k), Lead And Products Made Of Led ($126k), and Alcoholic Beverages ($61.4k).

Growth In November 2024, the decrease in India's year-by-year exports to Cuba was explained primarily by an decrease in product exports in . In November 2024, the decrease in India's year-by-year imports from Cuba was explained primarily by an decrease in product imports in .

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (November 2023 - November 2024)$-55.5k(-7.4%)

IMPORT GROWTH (November 2023 - November 2024)$-207k(-72.6%)

This section shows exports and imports data at subnational level for India. Click any date in the line plot or any product to explore the exports or imports behavior of India over time.

To check Cuba and India trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, India exported $89.4M to Cuba. The main products exported from India to Cuba were Rice ($77.1M), Packaged Medicaments ($3.2M), and Vaccines, blood, antisera, toxins and cultures ($1.21M). During the last 5 years the exports of India to Cuba have decreased at an annualized rate of 0.26%, from $90.6M in 2018 to $89.4M in 2023.

In 2018, Cuba exported $4.51M to India. The main products exported from Cuba to India were Scrap Iron ($1.53M), Vaccines, blood, antisera, toxins and cultures ($906k), and Packaged Medicaments ($856k). During the last 5 years the exports of Cuba to India have increased at an annualized rate of 2.3%, from $4.03M in 2023 to $4.51M in 2018.

Exports from India () to Cuba () (2023)

Exports from Cuba () to India () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

India
Top DestinationUnited States$85.5B

Cuba
Top DestinationChina$358M

This map shows whether countries import more from India or Cuba. Each country is colored based on the difference in imports they receive from India and Cuba or the difference in the growth in imports.

In 2023, countries that imported more from India than Cuba included United States ($85.5B), United Arab Emirates ($28.8B), and China ($18.1B).

In 2023, countries that imported more from Cuba than India included Macau ($29.2M) and Andorra ($3.77M).

Difference in imports from Cuba () and India () (2023)

Comparative Advantage India - Cuba

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between India and Cuba by product, considering products traded by both, India and Cuba.

During 2023, India had a large net trade with Cuba in the exports of Vegetable Products ($77.7M), Chemical Products ($6.25M), and Machines ($1.06M).

During 2018, Cuba had a large net trade with India in the exports of Chemical Products ($1.76M), Metals ($1.75M), and Foodstuffs ($1M).

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of India and Cuba. This means that a dot/product with the flag of India indicates it has a comparative advantage over Cuba. Similarly, a dot/product with the flag of Cuba indicates it has a comparative advantage over India.

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Latest Trends

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Latest Trade

Historical Data

Bilateral Trade by Products

Exports from India () to Cuba () (2023)

Exports from Cuba () to India () (2023)

Market Competitiveness

Difference in imports from Cuba () and India () (2023)

Comparative Advantage India - Cuba

Economic Complexity

Competitive Landscape

Product Space of India () and Cuba () (2023)

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