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)
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.
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 tariffs applied to imports for Cuba are:15: AAP.A25TM N° 36 Acuerdo de Alcance Parcial de Complementación Económica entre la República de Guatemala y la República de Cuba, suscrito al amparo del Artículo 25 del Tratado de Montevideo de 198023: AAP.AG N° 02 - Acuerdo de Alcance Parcial para la Liberación y Expansión del Comercio Intrarregional de Semillas Suscrito por el Art. 12 del TM8039: AAP.CE N° 40 Acuerdo de Complementación Económica N° 40 Celebrado entre la República de Cuba y la República de Venezuela41: AAP.CE N° 42 Acuerdo de Complementación Económica N° 42 Celebrado entre la República de Cuba y la República de Chile42: AAP.CE N° 44 Acuerdo de Complementación Económica N° 44 Celebrado entre la República de Cuba y la República Oriental del Uruguay 43: AAP.CE N° 46 Acuerdo de Complementación Económica N° 46 Celebrado entre la República de Cuba y la República de Ecuador44: AAP.CE N° 47 Acuerdo de Complementación Económica N° 47 Celebrado entre la República de Bolivia y la República de Cuba45: AAP.CE N° 49 Acuerdo de Complementación Económica N° 49 Celebrado entre la República de Colombia y la República de Cuba46: AAP.CE N° 50 Acuerdo de Complementación Económica N° 50 Celebrado entre la República de Cuba y la República del Perú47: AAP.CE N° 51 Acuerdo de Complementación Económica N° 51 Celebrado entre los Estados Unidos Mexicanos y la República de Cuba48: AAP.CE N° 52 - Complementación Económica entre Cuba y Paraguay64: AAP.CE N° 62 - Complementación Económica entre Argentina, Brasil, Paraguay, Uruguay y Cuba78: ALADI/AAP.CE/71 (20 de diciembre de 2013) Acuerdo de Alcance Parcial entre la República de Cuba y la República de Panamá79: AR.AM N° 01 - Acuerdo Regional de Apertura de Mercados en Favor de Bolivia80: AR.AM N° 02 - Acuerdo Regional de Apertura de Mercados en favor de Ecuador81: AR.AM N° 03 - Acuerdo Regional de Apertura de Mercados en Favor de Paraguay82: AR.CEYC N° 7 Acuerdo de Cooperación e Intercambio en las Áreas Cultural, Educacional y Científica (Argentina, Bolivia, Brasil, Chile, Colombia, Cuba, Ecuador, México, Panamá, Paraguay, Perú, Uruguay)83: AR.PAR N° 04 - Preferencia Arancelaria Regional (Argentina Bolivia Brasil Chile Colombia Cuba Ecuador México Panamá Paraguay Perú Uruguay Venezuela)125: General duty rate136: Most Favoured Nation duty rate treatement207: Preferential tariff for El Salvador
During the last 20 years Cuba's economy has become relatively less complex, moving from the 83rd to the 114th 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.
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.
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.
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.