Cuba : OEC Economic Profile
Overview
In 2020 Cuba was the number 151 economy in the world in terms of total exports and the number 149 in total imports. The communist regime has been incapable of assuring a developement of the Cuban economy. The American Embargo does not prevent Cuba from trading or doing business with any country in the world at preferential rates.
EXPORTS
EXPORTS
EXPORTS
The top exports of Cuba are :
- Cigars, cheroots, cigarillos and cigarettes; of tobacco or of tobacco substitutes ($267M).
- Cane or beet sugar and chemically pure sucrose, in solid form ($201M).
- Nickel mattes; nickel oxide sinters and other intermediate products of nickel metallurgy ($143M).
- Volume; spirits, liqueurs and other spirituous beverages ($82.2M).
- Zinc ores and concentrates ($68.9M).
Exporting mostly to China ($441M), Spain ($108M), India ($61.5M), Singapore ($50.2M), and Germany ($49.8M).
IMPORTS
EXPORTS
EXPORTS
IMPORTS
The top imports of Cuba are :
- Meat and edible offal of poultry; of the poultry of heading no.... ($266M).
- Wheat and meslin ($141M)
- Maize (corn) ($135M)
- Milk and cream; concentrated or containing added sugar or other sweetening matter ($128M)
- Rice ($72.7M).
Importing mostly from Spain ($675M), China ($483M), Italy ($211M), Brazil ($209M), and Canada ($197M).
Most Specialized Products by RCA Index
Most Specialized Products by RCA Index
Most Specialized Products by RCA Index
Most Specialized Products by RCA Index
Cuba has a high level of specialization in :
- Wood charcoal (including shell or nut charcoal), whether or not agglomerated (376).
- Nickel mattes; nickel oxide sinters and other intermediate products of nickel metallurgy (335).
- Cigars, cheroots, cigarillos and cigarettes; of tobacco or of tobacco substitutes (163).
- Zinc ores and concentrates (126).
- Cane or beet sugar and chemically pure sucrose, in solid form (117).
Specialization is measured using RCA, an index that takes the ratio between Cuba observed and expected exports in each product.
Data from BACI HS6 REV. 1992 (1995 - 2020).
Most Complex Products by PCI
Most Specialized Products by RCA Index
Most Specialized Products by RCA Index
Most Complex Products by PCI
The highest complexity exports of Cuba according to the product complexity index (PCI) are :
- Aluminium; articles n.e.c. in chapter 76 (0.69)
- Medicaments; (not goods of heading no. 3002, 3005 or 3006) of two or more constituents mixed together for therapeutic or prophylactic use not in measured doses or in forms or packings for retail sale (0.66)
- Paintings, drawings, pastels, executed entirely by hand; not drawings of heading no. 4906 and not hand-painted, hand-decorated manufactured articles; collages and similar decorative plaques (0.65)
- Cigarette paper, whether or not cut to size or in the form of booklets or tubes (0.18)
- Oils and other products of the distillation of high temperature coal tar; similar products in which the weight of the aromatic constituents exceeds that of the non-aromatic constituents (-0.068)
PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Data from BACI HS6 REV. 1992 (1995 - 2020),. and OEC Economic Complexity Indicators.
Export Opportunities by Relatedness
Most Specialized Products by RCA Index
Export Opportunities by Relatedness
Export Opportunities by Relatedness
The top export opportunities for Cuba according to the relatedness index are:
- Gold (including gold plated with platinum) unwrought or in semi-manufactured forms, or in powder form (0.076)
- Petroleum gases and other gaseous hydrocarbons (0.065)
- Fish; frozen, excluding fish fillets and other fish meat of heading 0304 (0.065)
- Bananas, including plantains; fresh or dried (0.064)
- Palm oil and its fractions; whether or not refined, but not chemically modified (0.063)
Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Cuba is not specialized in.