The Gross Domestic Product (GDP) in Cuba was worth 107.35 billion US dollars in 2020, according to official data from the World Bank. The GDP value of Cuba represents 0.10 percent of the world economy. This dataset provides - Cuba GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Gross Domestic Product Per Capita for Cuba (PCAGDPCUA646NWDB) from 1970 to 2020 about Cuba, per capita, and GDP.

The statistic shows gross domestic product (GDP) in current U.S. dollars in Cuba from 2012 to 2020. Gross domestic product (GDP) denotes the aggregate value of all services and goods produced within a country in any given year. GDP is an important indicator of a country's economic power. In 2020, Cuba's gross domestic product amounted to over 107 billion U.S. dollars.

After relatively stable economic growth since 2000, Cuba's GDP per capita stood at over 9,600 U.S. dollars in 2020. However, given the ongoing economic crisis in Cuba, due to the compounding effects of U.S. sanctions, the COVID-19 pandemic, recent figures are unavailable. For years, much of the Cuban population has gone without basic essentials, with food, fuel, and medicine shortages, as well as water cut-offs and electricity blackouts a common problem for millions of Cubans.

Cuba GDP for 2023 was $0.00, a 0% increase from 2022.

<ul style='margin-top:20px;'>

<li>Cuba GDP for 2022 was <strong>$0.00</strong>, a <strong>0% increase</strong> from 2021.</li>
<li>Cuba GDP for 2021 was <strong>$0.00</strong>, a <strong>100% decline</strong> from 2020.</li>
<li>Cuba GDP for 2020 was <strong>107.35 billion US dollars</strong>, a <strong>3.79% increase</strong> from 2019.</li>
</ul>GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

Cuba CU: GDP: % of GDP: Exports of Goods and Services data was reported at 40.014 % in 2022. This records an increase from the previous number of 34.894 % for 2021. Cuba CU: GDP: % of GDP: Exports of Goods and Services data is updated yearly, averaging 22.570 % from Dec 1970 (Median) to 2022, with 53 observations. The data reached an all-time high of 40.014 % in 2022 and a record low of 8.168 % in 2020. Cuba CU: GDP: % of GDP: Exports of Goods and Services data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Cuba – Table CU.World Bank.WDI: Gross Domestic Product: Share of GDP. Exports of goods and services represent the value of all goods and other market services provided to the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments.;World Bank national accounts data, and OECD National Accounts data files.;Weighted average;

Cuba recorded a Current Account deficit of 0.50 percent of the country's Gross Domestic Product in 2020. This dataset provides - Cuba Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2020, the economic participation rate in Cuba was estimated at approximately 66.37 percent. Between 2010 and 2020, the figure dropped by around 8.49 percentage points, though the decline followed an uneven course rather than a steady trajectory.

Cuba GDP per capita for 2020 was $9,605, a 4.04% increase from 2019.

<ul style='margin-top:20px;'>

<li>Cuba GDP per capita for 2019 was <strong>$9,232</strong>, a <strong>3.6% increase</strong> from 2018.</li>
<li>Cuba GDP per capita for 2018 was <strong>$8,911</strong>, a <strong>3.49% increase</strong> from 2017.</li>
<li>Cuba GDP per capita for 2017 was <strong>$8,611</strong>, a <strong>6.17% increase</strong> from 2016.</li>
</ul>GDP per capita is gross domestic product divided by midyear population. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars.

Tax revenue generated by Cuba represented 37.5 percent of its GDP in 2020. This share has been on an upward trend since 2014, with the exception of 2020. Cuba is the Latin American country with the largest share of tax revenue in relation to GPD.

Cuba CU: GDP: % of GDP: Trade data was reported at 88.803 % in 2022. This records an increase from the previous number of 80.024 % for 2021. Cuba CU: GDP: % of GDP: Trade data is updated yearly, averaging 44.917 % from Dec 1970 (Median) to 2022, with 53 observations. The data reached an all-time high of 88.803 % in 2022 and a record low of 15.683 % in 2020. Cuba CU: GDP: % of GDP: Trade data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Cuba – Table CU.World Bank.WDI: Gross Domestic Product: Share of GDP. Trade is the sum of exports and imports of goods and services measured as a share of gross domestic product.;World Bank national accounts data, and OECD National Accounts data files.;Weighted average;

Cuba CU: GDP: % of GDP: Imports of Goods and Services data was reported at 48.789 % in 2022. This records an increase from the previous number of 45.130 % for 2021. Cuba CU: GDP: % of GDP: Imports of Goods and Services data is updated yearly, averaging 20.355 % from Dec 1970 (Median) to 2022, with 53 observations. The data reached an all-time high of 48.789 % in 2022 and a record low of 7.515 % in 2020. Cuba CU: GDP: % of GDP: Imports of Goods and Services data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Cuba – Table CU.World Bank.WDI: Gross Domestic Product: Share of GDP. Imports of goods and services represent the value of all goods and other market services received from the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments.;World Bank national accounts data, and OECD National Accounts data files.;Weighted average;

Cuba trade to gdp ratio for 2022 was 88.80%, a 8.78% increase from 2021.

<ul style='margin-top:20px;'>

<li>Cuba trade to gdp ratio for 2021 was <strong>80.02%</strong>, a <strong>64.34% increase</strong> from 2020.</li>
<li>Cuba trade to gdp ratio for 2020 was <strong>15.68%</strong>, a <strong>7.14% decline</strong> from 2019.</li>
<li>Cuba trade to gdp ratio for 2019 was <strong>22.82%</strong>, a <strong>4.26% decline</strong> from 2018.</li>
</ul>Trade is the sum of exports and imports of goods and services measured as a share of gross domestic product.

Unemployment Rate in Cuba decreased to 1.50 percent in 2024 from 1.70 percent in 2023. This dataset provides - Cuba Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Cuba CU: Goods Trade: % of GDP data was reported at 8.321 % in 2020. This records a decrease from the previous number of 11.567 % for 2019. Cuba CU: Goods Trade: % of GDP data is updated yearly, averaging 27.029 % from Dec 1970 (Median) to 2020, with 51 observations. The data reached an all-time high of 63.860 % in 1986 and a record low of 8.321 % in 2020. Cuba CU: Goods Trade: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Cuba – Table CU.World Bank.WDI: Trade Statistics. Merchandise trade as a share of GDP is the sum of merchandise exports and imports divided by the value of GDP, all in current U.S. dollars.;World Trade Organization, and World Bank GDP estimates.;Weighted average;

Cuba CU: GDP: % of GDP: Gross Domestic Savings data was reported at 13.574 % in 2021. This records an increase from the previous number of 10.529 % for 2020. Cuba CU: GDP: % of GDP: Gross Domestic Savings data is updated yearly, averaging 12.986 % from Dec 1970 (Median) to 2021, with 52 observations. The data reached an all-time high of 17.301 % in 1985 and a record low of 2.676 % in 1993. Cuba CU: GDP: % of GDP: Gross Domestic Savings data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Cuba – Table CU.World Bank.WDI: Gross Domestic Product: Share of GDP. Gross domestic savings are calculated as GDP less final consumption expenditure (total consumption).;World Bank national accounts data, and OECD National Accounts data files.;Weighted average;

Covid stringency index in Cuba, December, 2022 The most recent value is 14 index as of December 2022, an increase compared to the previous value of 13 index. Historically, the average for Cuba from February 2020 to December 2022 is 50 index. The minimum of 11 index was recorded in August 2022, while the maximum of 95 index was reached in May 2020. | TheGlobalEconomy.com

Total Covid deaths per million in Cuba, March, 2023 The most recent value is 761 total Covid deaths as of March 2023, no change compared to the previous value of 761 total Covid deaths. Historically, the average for Cuba from March 2020 to March 2023 is 416 total Covid deaths. The minimum of 0 total Covid deaths was recorded in March 2020, while the maximum of 761 total Covid deaths was reached in May 2022. | TheGlobalEconomy.com

Total Covid cases per million people in Cuba, March, 2023 The most recent value is 99250 cases per million as of March 2023, an increase compared to the previous value of 99231 cases per million. Historically, the average for Cuba from March 2020 to March 2023 is 52832 cases per million. The minimum of 15 cases per million was recorded in March 2020, while the maximum of 99250 cases per million was reached in March 2023. | TheGlobalEconomy.com

Cuba recorded a Current Account deficit of 529 USD Million in 2020. This dataset provides - Cuba Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news.