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Agriculture > products
sugar, tobacco, citrus, coffee, rice, potatoes, beans; livestock |
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Budget > Revenues
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$41,840,000,000.00 |
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[48th of 166]
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Current account balance
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$240,000,000.00 |
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[57th of 181]
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Economic freedom
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0.55 |
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[156th of 156]
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Economy > Overview
The government continues to balance the need for economic loosening against a desire for firm political control. It has rolled back limited reforms undertaken in the 1990s to increase enterprise efficiency and alleviate serious shortages of food, consumer goods, and services. The average Cuban's standard of living remains at a lower level than before the downturn of the 1990s, which was caused by the loss of Soviet aid and domestic inefficiencies. Since late 2000, Venezuela has been providing oil on preferential terms, and it currently supplies about 100,000 barrels per day of petroleum products. Cuba has been paying for the oil, in part, with the services of Cuban personnel in Venezuela, including some 20,000 medical professionals. In 2007, high metals prices continued to boost Cuban earnings from nickel and cobalt production. Havana continued to invest in the country's energy sector to mitigate electrical blackouts that had plagued the country since 2004. |
Exchange rates
Convertible pesos per US dollar - 0.93 |
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Exports
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$3,734,000,000.00 |
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[112nd of 189]
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Exports > Goods and services
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16% |
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[136th of 156]
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Exports to US
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$100,000.00 |
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[203rd of 224]
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GDP
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$32,130,000,000.00 |
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[62nd of 203]
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GDP (purchasing power parity)
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$125,500,000,000.00 |
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[59th of 187]
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GDP > Real growth rate
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6.5% |
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[60th of 198]
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GDP growth > annual %
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5.4 annual %
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[78th of 187]
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Human Development Index
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0.817 |
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[52nd of 178]
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Inflation rate (consumer prices)
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3.1% |
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[125th of 192]
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Public debt
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36.8 % of GDP |
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[61st of 121]
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Total reserves minus gold > current US$
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143,000,000 $
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[37th of 178]
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Tourist arrivals
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1,153,000 |
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[47th of 152]
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Tourist arrivals by region of origin > Europe
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1,047,669 |
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[46th of 195]
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Trade balance with US
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$45,200,000.00 |
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[23rd of 224]
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... View all Economy stats
SOURCES: CIA World Factbook, 28 July 2005; All CIA World Factbooks 18 December 2003 to 18 December 2008; The Heritage Foundation; World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC; US Census Bureau; World Development Indicators database and CIA World Factbook; World Development Indicators database; Human Development Report 2006, United Nations Development Programme; United Nations World Statistics Pocketbook and Statistical Yearbook; Source: World Tourism Organization Statistics Database and Yearbook | United Nations World Tourism Organization
ALTERNATIVE NAMES:
Cuba, Republic of Cuba, Republica de Cuba
Related links:
More facts and figures on Cuba
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