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2021
Economic Complexity
Technology -2.12Rank 96 of 96
2022
Economic Complexity
Research -1.09Rank 122 of 135
2022
Product
Exports | Imports $1.07B | $3.51B161 of 226 |  154 of 226
2022
Per Capita Product
Exports | Imports $95.2 | $313218 of 220 |  197 of 220

About

Overview In 2022 Cuba was the number 161 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 ($163M), Zinc Ore ($127M), Hard Liquor ($102M), and Raw Sugar ($67.2M), exporting mostly to China ($426M), Spain ($139M), Germany ($58.5M), Portugal ($43.3M), and Switzerland ($41.4M).

Imports The top imports of Cuba are Poultry Meat ($365M), Concentrated Milk ($115M), Soybean Oil ($108M), Corn ($105M), and Wheat ($102M), importing mostly from Spain ($812M), China ($404M), United States ($341M), Brazil ($290M), and Netherlands ($225M).

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

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

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.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

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.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2022)Rolled Tobacco$275M
Top Destination (2022)China$426M

In 2022, Cuba exported a total of $1.07B, making it the number 161 exporter in the world. During the last five reported years the exports of Cuba have changed by -$667M from $1.73B in 2017 to $1.07B in 2022.

The most recent exports are led by Rolled Tobacco ($275M), Nickel Mattes ($163M), Zinc Ore ($127M), Hard Liquor ($102M), and Raw Sugar ($67.2M). The most common destination for the exports of Cuba are China ($426M), Spain ($139M), Germany ($58.5M), Portugal ($43.3M), and Switzerland ($41.4M).

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Exports (2022)
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Destinations (2022)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2021 - 2022)
Spain$20.7M (+ 17.6%)
Macau$9.89M (+ 52.1%)
United Kingdom$7.72M (+ 99.7%)
Fastest Growing Import Markets (2021 - 2022)
Brazil$110M (+ 60.9%)
Spain$71.3M (+ 9.63%)
Netherlands$65.8M (+ 41.4%)

Total Export Growth by Market (2021 - 2022)

Potential Exports

Potential Exports

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Service Trade

Service Trade

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.

Service Exports (2014)

Economic Complexity

Overview

Economic Complexity (Technology)-2.12Rank 96 of 96
Economic Complexity (Research)-1.09Rank 122 of 135

Most Specialized Products by RCA Index

Cuba has a high level of specialization in Wood Charcoal (497), Rolled Tobacco (254), Nickel Mattes (226), Zinc Ore (200), and Honey (168). 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

The highest complexity exports of Cuba according to the product complexity index (PCI) are Engravings, prints and lithographs; original (1.62), Paintings, drawings, pastels, executed entirely by hand; not drawings of heading no.... (0.83), Copper; powders and flakes (0.4), Food preparations not elsewhere specified or included (0.094), and Tools, hand; spades, shovels, mattocks, picks, hoes, forks, rakes; axes, bill hooks... (0.041). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Cuba according to the relatedness index, were Gold (0.072), Manganese Ore (0.064), Aluminium Ore (0.064), Crude Petroleum (0.061), and Cocoa Shells (0.06). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Cuba is not specialized in.

Product Space

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.

Relatedness Space

This network shows the products most related to the production structure of Cuba. These are products that tend to be co-exported with the products that Cuba exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2022)

Diversification Frontier

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Depth

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.

Diversification Frontier

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