Economy overview: In recent years, the government has undertaken several reforms to stop the population exodus from the island, increase incentives to work and reduce the significant shortage of food, consumer goods and services. Standards of living for most Cubans without dollars remain below 1990. The liberalization of agricultural markets in October 1994, in which state-owned enterprises and private peasants sell surplus products at free prices, expanded alternative legal consumption and lowered black market prices. New taxes introduced in 1996 helped reduce shadow employment, which was 208,000 in January 1996. Havana announced in 1995 that a 35% decline in GDP during 1989-93. is the result of the cessation of Soviet aid and domestic inefficiency. The fall in GDP appears to be stopped in 1994 when Cuba announced growth of 0.7%, which increased to 2.5% in 1995 and to 7.8% in 1996. GDP growth slowed in 1997 and 1998, amounting to 2.5% and 1.2%, respectively, and increased again to 6.2% in 1999 and 5.6% in 2000. The recovery of the Cuban economy is mainly due to the revival of tourism and foreign investment. Growth in 2001 should remain flat as the government balances the need for greater economic freedom with concerns about maintaining political control. The revival of the Cuban economy is mainly due to the revival of tourism and foreign investment. Growth in 2001 should remain flat as the government balances the need for greater economic freedom with concerns about maintaining political control. See businesscarriers.com to know more about Cuba Economics and Business.
GDP: at purchasing power parity – $19.2 billion (2000 est.).
Real GDP growth rate: 5.6% (2000 est.).
GDP per capita: at purchasing power parity – $1,700 (2000 est.).
The composition of GDP by sectors of the economy: agriculture: 7%; industry: 37%; services: 56% (1998 est.).
Proportion of the population below the poverty line: no data available.
Percentage distribution of household income or consumption: 10% of the poorest households account for: n/a; 10% of the wealthiest families account for: no data.
Inflation rate at consumer prices: 0.3% (1999 est.).
Work force: 4.3 million (2000 est.); note: public sector 75%, non-state sector 25% (1998).
Employment structure: agriculture 25%, industry 24%, services 51% (1998).
Unemployment rate: 5.5% (2000 est.).
Budget: revenues: $13.5 billion; expenditures: $14.3 billion, including capital expenditures – NA (2000 est.).
Spheres of economy: sugar, oil, tobacco, chemical industry, construction, services, production of nickel, steel, cement, agricultural engineering.
Growth in industrial production: 5% (2000 est.).
Electricity generation: 14.358 billion kWh (1999)
Sources of electricity generation: fossil fuel: 94.2%; hydropower: 0.7%; nuclear fuel: 0%; others: 5.1% (1999).
Electricity consumption: 13.353 billion kWh (1999)
Electricity export: 0 kWh (1999).
Electricity import: 0 kWh (1999).
Agricultural products: sugar cane, tobacco, citrus fruits, coffee, rice, potatoes, legumes; livestock.
Exports: $1.8 billion (free on board, 2000 est.)
Exports: sugar, nickel, tobacco, fish, medicines, citrus fruits, coffee.
Export partners: Russia 23%, Netherlands 23%, Canada 13% (1999 est.).
Imports: $3.4 billion (free on board, 2000 est.)
Import articles: oil, food, machinery, chemicals, semi-finished products, transport equipment, consumer goods.
Import partners: Spain 18%, Venezuela 13%, Canada 8% (1999).
External debt: $11.1 billion (in convertible currency, 1999); See also Russia $15-20 billion (2000), Economic aid recipient: $68.2 million (1997 est.).
Economic aid donor:
Currency: Cuban peso.
Currency code: CUP.
Exchange rate: CUP/USD – 1.0000 (non-convertible currency, official exchange rate pegged to the US dollar); the convertible peso is sold by the Cuban government for domestic use at the rate of 1 USD to 22 pesos (January 2001).
Fiscal year: calendar year.
Telecommunications Telephone lines: 473 031 (2000).
Mobile cellular telephones: 2994 (1997).
Phone System: Domestic: The main trunk system, stretching from end to end of the country, uses coaxial cable; fiber optic communication in Havana and on the Isle of Youth; 2 microwave radio relay stations (one older, built by the USA; the other newer, built by the USSR); both analog and digital mobile cellular communications are presented; international: satellite earth station 1 Intersputnik (Atlantic Ocean region).
Broadcast stations: AM – 169, FM – 55, shortwave – 1 (1998).
Radio receivers: 3.9 million (1997)
Television broadcast stations: 58 (1997).
Televisions: 2.64 million (1997)
Internet country code: cu
Internet service providers: 4 (2001).
Number of users: 60,000 (2000).
Transport Railways: total: 11,969 km; standard gauge: 4,807 km (1.435 m gauge) (147 km electrified); note: in addition to public roads, there are 7,162 km of tracks on sugarcane plantations, about 90% of them are standard gauge, the rest are narrow gauge (2000).
Roads: total: 60,858 km; paved: 29,820 km (including 638 km of expressways); unpaved: 31,038 km (1997 est.)
Waterways: 240 km.
Ports and harbors: Havana, Manzanillo, Mariel, Matanzas, Nuevitas, Santiago de Cuba, Cienfuegos.
Merchant navy: in total: 15 ships (of 1,000 tons displacement or more) with a total displacement of 54,821 gross register tons / 78,062 long tons of gross tonnage; ships of various types: dry cargo ships – 1, cargo ships – 7, liquefied gas tankers – 1, oil tankers – 1, refrigerated ships – 5 (2000 est.).
Airports: 171 (2000 est.).
Airports with paved runways: total: 77; over 3,047 m: 7; from 2438 to 3047 m: 9; from 1,524 to 2,437 m: 16; from 914 to 1523 m:10; less than 914 m: 35 (2000 est.).
Airports with unpaved runways: total: 94; from 914 to 1,523 m: 31; less than 914 m: 63 (2000 est.).
Branches of the armed forces: the revolutionary armed forces (FAR) include the ground forces, the revolutionary navy (MGR), the air and anti-aircraft forces (DAAFAR), the territorial militia units (MTT) and the army of working youth (EJT); the Border Guard (TGF) is controlled by the Ministry of the Interior.
Enlistment age: 17 years old.
Total military manpower: men aged 15 to 49: 3,090,633; women 15 to 49: 3,029,274 (2001 est.).
Eligible for military service: men aged 15 to 49: 1,911,160; women 15 to 49: 1,867,958 (2001 est.).
Number of persons annually reaching military age: men: 79,562; women: 85,650 (2001 est.).
Military spending in dollar terms: no data available.
Military spending as a share of GDP: 4%, rough estimate (1995 est.). Armed Forces – note: Moscow, Cuba’s main arms supplier for decades, cut off virtually all military aid by 1993.
International issues International disputes: the American naval base at Guantanamo Bay is leased by the United States, the lease can only be terminated by mutual agreement or by the United States unilaterally.
Illicit drugs: territorial waters and airspace are used to transport cocaine destined for the US and Europe; in 1999, the death penalty was established for a number of drug-related crimes.