Flag Cuba

2019
Economic
Complexity
: -0.67, Rank 114 of 157

2019
Product
Exports | Imports
: $1.21B | $5.28B, 152 of 225 |  133 of 225

2019
Per Capita Product
Exports | Imports
: $106 | $466, 194 of 219 |  176 of 219

2014
Service
Exports | Imports
: $2.37B | N/A, 94 of 176 | 0 of 0

Overview: In 2019 Cuba was the number 0 economy in the world in terms of GDP (current US$), the number 152 in total exports, the number 133 in total imports, the number 0 economy in terms of GDP per capita (current US$) and the number 114 most complex economy according to the Economic Complexity Index (ECI)

Exports: The top exports of Cuba are Rolled Tobacco ($287M), Raw Sugar ($211M), Nickel Mattes ($134M), Hard Liquor ($97.3M), and Zinc Ore ($78.4M), exporting mostly to China ($461M), Spain ($127M), Netherlands ($65.5M), Germany ($64.7M), and Cyprus ($48.9M).

Imports: The top imports of Cuba are Poultry Meat ($286M), Wheat ($181M), Soybean Meal ($167M), Corn ($146M), and Concentrated Milk ($136M), importing mostly from Spain ($1.01B), China ($790M), Italy ($327M), Canada ($285M), and Russia ($285M).

Location: Cuba borders Bahamas, Haiti, Honduras, Jamaica, Mexico, United States, and Cayman Islands by sea.

Yearly Exports

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Value
Depth

Top Export (2019): Rolled Tobacco, $287M

Top Destination (2019): China, $461M

In 2019, Cuba exported a total of $1.21B, making it the number 152 exporter in the world. During the last five reported years the exports of Cuba have changed by -$459M from $1.67B in 2014 to $1.21B in 2019.

The most recent exports are led by Rolled Tobacco ($287M), Raw Sugar ($211M), Nickel Mattes ($134M), Hard Liquor ($97.3M), and Zinc Ore ($78.4M). The most common destination for the exports of Cuba are China ($461M), Spain ($127M), Netherlands ($65.5M), Germany ($64.7M), and Cyprus ($48.9M).

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Yearly Imports

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Value
Depth

Top Import (2019): Poultry Meat, $286M

Top Origin (2019): Spain, $1.01B

In 2019 Cuba imported $5.28B, making it the number 133 trade destination in the world. During the last five reported years the imports of Cuba changed by -$797M from $6.08B in 2014 to $5.28B in 2019.

The most recent imports of Cuba are led by Poultry Meat ($286M), Wheat ($181M), Soybean Meal ($167M), Corn ($146M), and Concentrated Milk ($136M). The most common import partners for Cuba are Spain ($1.01B), China ($790M), Italy ($327M), Canada ($285M), and Russia ($285M).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

Cuba Exports Services (2014): $2.37B

In 2014, Cuba exported $2.37B worth of services. The top services exported by Cuba in 2014 were Travel ($2.37B).

Cuba did not import services in the same year.

Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Cuba are Acetic acid (30%) and Agarbatti, odorifers operated by burning (30%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

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*The tariffs applied to imports for Cuba are:
15: AAP.A25TM N┬░ 36 Acuerdo de Alcance Parcial de Complementaci├│n Econ├│mica entre la Rep├║blica de Guatemala y la Rep├║blica de Cuba, suscrito al amparo del Art├şculo 25 del Tratado de Montevideo de 1980
23: AAP.AG N┬░ 02 - Acuerdo de Alcance Parcial para la Liberaci├│n y Expansi├│n del Comercio Intrarregional de Semillas Suscrito por el Art. 12 del TM80
39: AAP.CE N┬░ 40 Acuerdo de Complementaci├│n Econ├│mica N┬░ 40 Celebrado entre la Rep├║blica de Cuba y la Rep├║blica de Venezuela
41: AAP.CE N┬░ 42 Acuerdo de Complementaci├│n Econ├│mica N┬░ 42 Celebrado entre la Rep├║blica de Cuba y la Rep├║blica de Chile
42: AAP.CE N┬░ 44 Acuerdo de Complementaci├│n Econ├│mica N┬░ 44 Celebrado entre la Rep├║blica de Cuba y la Rep├║blica Oriental del Uruguay
43: AAP.CE N┬░ 46 Acuerdo de Complementaci├│n Econ├│mica N┬░ 46 Celebrado entre la Rep├║blica de Cuba y la Rep├║blica de Ecuador
44: AAP.CE N┬░ 47 Acuerdo de Complementaci├│n Econ├│mica N┬░ 47 Celebrado entre la Rep├║blica de Bolivia y la Rep├║blica de Cuba
45: AAP.CE N┬░ 49 Acuerdo de Complementaci├│n Econ├│mica N┬░ 49 Celebrado entre la Rep├║blica de Colombia y la Rep├║blica de Cuba
46: AAP.CE N┬░ 50 Acuerdo de Complementaci├│n Econ├│mica N┬░ 50 Celebrado entre la Rep├║blica de Cuba y la Rep├║blica del Per├║
47: AAP.CE N┬░ 51 Acuerdo de Complementaci├│n Econ├│mica N┬░ 51 Celebrado entre los Estados Unidos Mexicanos y la Rep├║blica de Cuba
48: AAP.CE N┬░ 52 - Complementaci├│n Econ├│mica entre Cuba y Paraguay
64: AAP.CE N┬░ 62 - Complementaci├│n Econ├│mica entre Argentina, Brasil, Paraguay, Uruguay y Cuba
78: ALADI/AAP.CE/71 (20 de diciembre de 2013) Acuerdo de Alcance Parcial entre la República de Cuba y la República de Panamá
79: AR.AM N┬░ 01 - Acuerdo Regional de Apertura de Mercados en Favor de Bolivia
80: AR.AM N┬░ 02 - Acuerdo Regional de Apertura de Mercados en favor de Ecuador
81: AR.AM N┬░ 03 - Acuerdo Regional de Apertura de Mercados en Favor de Paraguay
82: AR.CEYC N┬░ 7 Acuerdo de Cooperaci├│n e Intercambio en las ├üreas Cultural, Educacional y Cient├şfica (Argentina, Bolivia, Brasil, Chile, Colombia, Cuba, Ecuador, M├ęxico, Panam├í, Paraguay, Per├║, Uruguay)
83: AR.PAR N┬░ 04 - Preferencia Arancelaria Regional (Argentina Bolivia Brasil Chile Colombia Cuba Ecuador M├ęxico Panam├í Paraguay Per├║ Uruguay Venezuela)
125: General duty rate
136: Most Favoured Nation duty rate treatement
207: Preferential tariff for El Salvador

Economic Complexity

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Economic Complexity Ranking

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Compare with

During the last 20 years Cuba'sÔüę ÔüĘeconomy has become relatively less complex, moving from the ÔüęÔüĘ83rd to the 114thÔüę position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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Most Specialized Products by RCA Index

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Cuba has a high level of specialization in Wood Charcoal (411), Nickel Mattes (328), Rolled Tobacco (161), Raw Sugar (146), and Lead Ore (115). Specialization is measured using RCA, an index that takes the ratio between Cuba observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Cuba according to the product complexity index (PCI) are Blood, antisera, vaccines, toxins and cultures (1.02), Articles of aluminium nes (0.92), Gasoline and oil additives (0.71), Paintings, drawings, pastels, collages etc, hand made (0.012), and Original sculptures and statuary, in any material (-0.2). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Cuba according to the relatedness index, are Gold (0.086), Crude Petroleum (0.08), Tin Ores (0.075), Uranium and Thorium Ore (0.074), and Other Oily Seeds (0.073). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Cuba is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.