Cuba2021 Economic Complexity Technology : -2.12, Rank 96 of 96
2021 Economic Complexity Research : -1.23, Rank 127 of 140
2021 Product Exports | Imports: $1.09B | $3.45B, 158 of 226 | 154 of 226
2021 Per Capita Product Exports | Imports: $95.9 | $305, 202 of 219 | 195 of 219
Overview In 2021 Cuba was the number 158 economy in the world in terms of total exports and the number 154 in total imports.
Exports The top exports of Cuba are Rolled Tobacco ($275M), Nickel Mattes ($148M), Raw Sugar ($121M), Hard Liquor ($91.8M), and Zinc Ore ($89.6M), exporting mostly to China ($419M), Spain ($118M), Germany ($70.2M), Belgium ($58.7M), and Switzerland ($46.2M).
Imports The top imports of Cuba are Poultry Meat ($330M), Wheat ($153M), Concentrated Milk ($107M), Crude Petroleum ($70.2M), and Rice ($66.9M), importing mostly from Spain ($741M), China ($574M), United States ($309M), Canada ($225M), and Italy ($185M).
Location Cuba borders Bahamas, Haiti, Honduras, Jamaica, Mexico, United States, and Cayman Islands by sea.
The following section uses the most recent trade data from partners of Cuba.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Top Export (2021): Rolled Tobacco, $275M
Top Destination (2021): China, $419M
In 2021, Cuba exported a total of $1.09B, making it the number 158 exporter in the world. During the last five reported years the exports of Cuba have changed by -$122M from $1.21B in 2016 to $1.09B in 2021.
The most recent exports are led by Rolled Tobacco ($275M), Nickel Mattes ($148M), Raw Sugar ($121M), Hard Liquor ($91.8M), and Zinc Ore ($89.6M). The most common destination for the exports of Cuba are China ($419M), Spain ($118M), Germany ($70.2M), Belgium ($58.7M), and Switzerland ($46.2M).
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.
Cuba has a high level of specialization in Wood Charcoal (545), Nickel Mattes (321), Rolled Tobacco (220), Zinc Ore (141), and Honey (130). Specialization is measured using RCA, an index that takes the ratio between Cuba observed and expected exports in each product.
The highest complexity exports of Cuba according to the product complexity index (PCI) are Human blood; animal blood for therapeutic, prophylactic or diagnostic uses; antisera, other... (1.34), Thermionic, cold cathode or photo-cathode valves and tubes (e.g. vacuum, vapour, gas... (1.02), Aluminium; articles n.e.c. in chapter 76 (0.56), Paintings, drawings, pastels, executed entirely by hand; not drawings of heading no.... (0.54), and Medicaments; (not goods of heading no. 3002, 3005 or 3006) of two... (0.53). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Cuba according to the relatedness index, were Gold (0.076), Bananas (0.063), Crude Petroleum (0.063), Manganese Ore (0.062), and Aluminium Ore (0.061). 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 a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.
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