Cuba - Foreign trade





Cuba has established or reestablished trade relations with many countries in Latin America, the Caribbean, Africa, Asia, and Europe. The sudden rupture of trade with the former Soviet Union and the Eastern bloc nations in 1989 after 30 years of interrelationship caused severe trauma to the Cuban economy. However, there remains a clear political will on the part of the former Soviet republics to maintain economic relations with Cuba with a certain degree of preference. Nevertheless, Cuba has diversified its trading partners in recent years.

Almost half of Cuba's commodity export market (53%) is taken up by sugar and honey, representing 5.7% of the world's export sales in these commodities. Nickel is the second most lucrative exported commodity (23%), followed by fish (6.8%). Other exports include tobacco (5.6%) and medicinal and pharmaceutical products (2.8%). Primary imports include petroleum, food, machinery, and chemicals.

Russia buys 27% of Cuba's exports; Canada, 18%; and Spain, 8%. Imports come from Spain (17%), France (9%), and Canada (9%). Principal trading partners in 1998 (in millions of US dollars) were as follows:

Cuba

COUNTRY EXPORTS IMPORTS BALANCE
Russia 374 77 297
Netherlands 230 47 183
Canada 227 263 -36
Spain 122 603 -481
China (inc. Hong Kong) 93 156 -63
France 55 285 -230
Germany 26 83 -57
United Kingdom 24 61 -37
Italy 12 213 -201
Venezuela 6 144 -138

User Contributions:

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Apr 13, 2010 @ 7:19 pm
Thank you so much for posting this. I needed some info for a project and this was just what I needed. Thanks again!
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Aug 27, 2010 @ 8:08 am
To whom it concerns

I need to know what are the nessesities that Cuban goverment need
shelton
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Feb 14, 2012 @ 10:10 am
how much foriegn debts has to cuba.Is it growning?Is Cuba economy growing or going dowing?Can Cuban people purchase foriegn made items such as textiles,electronic items?
kris
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Oct 23, 2013 @ 3:03 am
How to do a trade with Cuba pharmaceutical companies ?
can you give me information about Cuba trade agency in Indonesia?
maritza
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Mar 25, 2014 @ 12:12 pm
this help alot thank you who ever put this up smart person :)

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