Cuba - Economic sectors

Cuba's important economic sectors are related to its tropical climate, island location, and fertile soils. The sectors that annually contribute the most to the Cuban GDP are tourism (30 percent, US$5.6 billion), construction (20 percent, US$3.7 billion), agriculture, hunting, and fishing (17 percent, US$3.16 billion), and industry (37 percent, US$6.9 billion), according to Cuba: Informe Económico in 1996. All of these sectors experienced considerable growth in the latter part of the 1990s as a result of a restructuring of the economy, foreign investment, and new trading partners. Tourism is slated for the most growth in the coming years because it is one of the most attractive sectors for foreign investment.

Compared to worldwide production, Cuba's output of its most important products is relatively small. World production of sugar is 130 million metric tons, and Cuba produces only 3 to 5 million metric tons, still a considerable amount for the size of the island. Cuba experienced a 50 percent drop in sugar production between 1993 and 1994 due to the inability to procure the necessary fuel, fertilizers, and other agricultural products, and bad weather. Again in 1997 and 1998, lack of capital and

inefficiencies caused the harvest to suffer, which barely reached the 50-year low of 3.3 million tons. Other countries that produce more sugar are the United States, Brazil, Mexico, India, and Australia.