Countries
Cuba
Key Economic Indicators
<strong>note:</strong> data in 2015 dollars
<strong>note:</strong> data in 2015 dollars
-1.06%
11.9% (2020 est.)
1.75%
$259.781 billion (2024 est.)
42.7% of GDP (2016 est.)
Economic Overview
still largely state-run planned economy, although privatization increasing under new constitution; widespread protests due to lack of basic necessities and electricity; massive foreign investment increases recently; known tobacco exporter; unique oil-for-doctors relationship with Venezuela; widespread corruption
All Economic Data
Agricultural products
sugarcane, cassava, plantains, vegetables, mangoes/guavas, milk, tomatoes, pumpkins/squash, sweet potatoes, bananas (2023)
note:
<b>note:</b> top ten agricultural products based on tonnage
Budget
Expenditures:
$64.64 billion (2017 est.)
Revenues:
$54.52 billion (2017 est.)
Currency
code:
CUC, CUP
name:
Cuban convertible peso (CUC) [$], Cuban peso (CUP) [$]
Exchange rates
Currency:
Cuban pesos (CUP) per US dollar -
Exchange rates 2020:
1 (2020 est.)
Exchange rates 2021:
24 (2021 est.)
Exchange rates 2022:
24 (2022 est.)
Exchange rates 2023:
24 (2023 est.)
Exchange rates 2024:
24 (2024 est.)
Note:
<strong>note:</strong> official exchange rate of 24 Cuban pesos per US dollar effective 1 January 2021
Exports
Exports 2018:
$14.53 billion (2018 est.)
Exports 2019:
$12.632 billion (2019 est.)
Exports 2020:
$8.768 billion (2020 est.)
Note:
<strong>note: </strong>GDP expenditure basis - exports of goods and services in current dollars
Exports - commodities
tobacco, nickel, liquor, zinc ore, precious metal ore (2023)
note:
<b>note:</b> top five export commodities based on value in dollars
Exports - partners
China 34%, Spain 12%, Germany 6%, Switzerland 5%, Hong Kong 4% (2023)
note:
<b>note:</b> top five export partners based on percentage share of exports
GDP - composition, by end use
Exports of goods and services:
43.5% (2023 est.)
Government consumption:
25.5% (2023 est.)
Household consumption:
73.3% (2023 est.)
Imports of goods and services:
-64.6% (2023 est.)
Investment in fixed capital:
12.3% (2023 est.)
Investment in inventories:
10% (2023 est.)
Note:
<b>note:</b> figures may not total 100% due to rounding or gaps in data collection
GDP - composition, by sector of origin
Agriculture:
1.3% (2023 est.)
Industry:
27.5% (2023 est.)
Note:
<b>note:</b> figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Services:
70% (2023 est.)
GDP (official exchange rate)
$259.781 billion (2024 est.)
note:
<b>note:</b> data in current dollars at official exchange rate
Gross domestic investment
24 % of GDP
Imports
Imports 2018:
$12.567 billion (2018 est.)
Imports 2019:
$10.971 billion (2019 est.)
Imports 2020:
$8.067 billion (2020 est.)
Note:
<strong>note: </strong>GDP expenditure basis - imports of goods and services in current dollars
Imports - commodities
beer, poultry, rice, plastic products, soybean oil (2023)
note:
<b>note:</b> top five import commodities based on value in dollars
Imports - partners
Spain 24%, China 13%, Netherlands 10%, USA 9%, Canada 6% (2023)
note:
<b>note:</b> top five import partners based on percentage share of imports
Industrial production growth rate
-0.9% (2023 est.)
note:
<b>note:</b> annual % change in industrial value added based on constant local currency
Industries
petroleum, nickel, cobalt, pharmaceuticals, tobacco, construction, steel, cement, agricultural machinery, sugar
Inflation rate (consumer prices)
Inflation rate (consumer prices) 2020:
11.9% (2020 est.)
Inflation rate (consumer prices) 2021:
151.9% (2021 est.)
Inflation rate (consumer prices) 2022:
76.1% (2022 est.)
Note:
<strong>note:</strong> annual % change based on consumer prices
Labor force
4.859 million (2024 est.)
note:
<b>note:</b> number of people ages 15 or older who are employed or seeking work
total:
4.86 million persons
Labor force - by occupation
agriculture:
15.53%
industry:
16.91%
services:
67.56%
Public debt
Public debt 2016:
42.7% of GDP (2016 est.)
Real GDP (purchasing power parity)
Note:
<strong>note:</strong> data in 2015 dollars
Real GDP (purchasing power parity) 2022:
$83.597 billion (2022 est.)
Real GDP (purchasing power parity) 2023:
$81.985 billion (2023 est.)
Real GDP (purchasing power parity) 2024:
$81.165 billion (2024 est.)
Real GDP growth rate
-1.06%
Note:
<b>note:</b> annual GDP % growth based on constant local currency
Real GDP growth rate 2021:
1.3% (2021 est.)
Real GDP growth rate 2022:
1.8% (2022 est.)
Real GDP growth rate 2023:
-1.9% (2023 est.)
Real GDP per capita
Note:
<strong>note:</strong> data in 2015 dollars
Real GDP per capita 2022:
$13,300 (2022 est.)
Real GDP per capita 2023:
$18,300 (2023 est.)
Real GDP per capita 2024:
$23,700 (2024 est.)
Unemployment rate
1.75%
Note:
<b>note:</b> % of labor force seeking employment
Unemployment rate 2022:
1.9% (2022 est.)
Unemployment rate 2023:
1.8% (2023 est.)
Unemployment rate 2024:
1.6% (2024 est.)
Youth unemployment rate (ages 15-24)
Female:
3.5% (2024 est.)
Male:
4.1% (2024 est.)
Note:
<b>note:</b> % of labor force ages 15-24 seeking employment
Total:
3.9% (2024 est.)
World Bank Indicators
Currency
Cuban convertible peso (CUC) $ (2025)
Exports (US$)
$8.77B (2020)
GDP Growth (%)
-1.06 (2024)
Gdp Nominal
$107.35B (2020)
GDP Per Capita
9,605 (2020)
Imports (US$)
$8.07B (2020)
Languages
Spanish (2025)
Unemployment Rate (%)
1.76 (2024)
Youth Unemployment
4.28 (2024)
Economic Rankings
Inflation Rate
#6
GDP (Nominal)
#52
GDP (PPP)
#72
GDP per Capita
#82
Exports
#101
Imports
#112
Unemployment Rate
#166
GDP Growth Rate
#177
Quick Facts
Industries
petroleum, nickel, cobalt, pharmaceuticals, tobacco, construction, steel, cement, agricultural machinery, sugar
Agricultural products
sugarcane, cassava, plantains, vegetables, mangoes/guavas, milk, tomatoes, pumpkins/squash, sweet potatoes, bananas (2023)
Labor force
4.859 million (2024 est.)
Exports - partners
China 34%, Spain 12%, Germany 6%, Switzerland 5%, Hong Kong 4% (2023)
Imports - partners
Spain 24%, China 13%, Netherlands 10%, USA 9%, Canada 6% (2023)
Exchange rates
Cuban pesos (CUP) per US dollar -
Explore More
Our Partners
Trusted partner applications powering global data and insights