World Factbook

Cuba

República de Cuba

Last updated: 2026-03-28 (today)

Budget

revenues

$54.52 billion (2017 est.)

expenditures

$64.64 billion (2017 est.)

Exports

note

note: GDP expenditure basis - exports of goods and services in current dollars

Exports 2018

$14.53 billion (2018 est.)

Exports 2019

$12.632 billion (2019 est.)

Exports 2020

$8.768 billion (2020 est.)

Imports

note

note: GDP expenditure basis - imports of goods and services in current dollars

Imports 2018

$12.567 billion (2018 est.)

Imports 2019

$10.971 billion (2019 est.)

Imports 2020

$8.067 billion (2020 est.)

Industries

petroleum, nickel, cobalt, pharmaceuticals, tobacco, construction, steel, cement, agricultural machinery, sugar

Labor force

4.859 million (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

Public debt 2016

42.7% of GDP (2016 est.)

Exchange rates

note

note: official exchange rate of 24 Cuban pesos per US dollar effective 1 January 2021

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.)

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

Unemployment rate

note

note: % 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.)

Exports - partners

China 34%, Spain 12%, Germany 6%, Switzerland 5%, Hong Kong 4% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

Spain 24%, China 13%, Netherlands 10%, USA 9%, Canada 6% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: 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.)

Real GDP growth rate

note

note: 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.)

Agricultural products

sugarcane, cassava, plantains, vegetables, mangoes/guavas, milk, tomatoes, pumpkins/squash, sweet potatoes, bananas (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

tobacco, nickel, liquor, zinc ore, precious metal ore (2023)

note: top five export commodities based on value in dollars

Imports - commodities

beer, poultry, rice, plastic products, soybean oil (2023)

note: top five import commodities based on value in dollars

GDP (official exchange rate)

$259.781 billion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

73.3% (2023 est.)

government consumption

25.5% (2023 est.)

investment in inventories

10% (2023 est.)

investment in fixed capital

12.3% (2023 est.)

exports of goods and services

43.5% (2023 est.)

imports of goods and services

-64.6% (2023 est.)

Inflation rate (consumer prices)

note

note: annual % change based on 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.)

Industrial production growth rate

-0.9% (2023 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: 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.)

Youth unemployment rate (ages 15-24)

male

4.1% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

3.9% (2024 est.)

female

3.5% (2024 est.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

27.5% (2023 est.)

services

70% (2023 est.)

agriculture

1.3% (2023 est.)