CUBA

Fact sheets are updated biannually; August and February

General information
Capital: Havana Head of State
Land area: 106,440 sq km President of the Councils of State and Ministers of the Republic of Cuba
Official language(s): Spanish HE Mr Miguel Mario Díaz-Canel Bermúdez
Population: 11.3 million (2020) Head of Government
Prime Minister HE Mr Manuel Marrero Cruz
Currency: Cuban Peso

Economic indicators (a) 2015 2016 2017 2018 2019 2020

GDP (US$b) (current prices) 87.1 91.4 96.9 100.0 106.3 103.5
GDP per capita (US$) 7,576.8 8,060.0 8,540.0 8,820.0 9,390.0 9,150.0
GDP PPP (Int'l $b) 141.3 143.4 148.7 155.7 159.3 146.8
GDP per capita PPP (Int'l $) 12,470.0 12,650.0 13,110.0 13,730.0 14,070.0 12,970.0
Real GDP growth (% change yoy) 4.4 0.5 1.8 2.3 0.5 -8.3
Current account balance (US$m) 1,436.0 1,796.0 2,790.0 2,531.0 1,473.0 204.0
Current account balance (% GDP) 1.6 2.0 2.9 2.5 1.4 0.2
Inflation (% change yoy) 4.2 4.5 5.5 6.9 5.6 4.2
Unemployment (% labour force) 2.4 2.4 2.6 2.8 3.1 3.4

Australia's trade and investment relationship with Cuba (b)

Australian merchandise trade with Cuba, 2019-20 (A$000) Total share Rank Growth (yoy)
Exports to Cuba 601 0.0% 183rd 4.8%
Imports from Cuba 9,651 0.0% 116th -20.0%
Total merchandise trade (exports + imports) 10,252 0.0% 144th -18.8%

Major Australian exports, 2019-20 (A$000) Major Australian imports, 2019-20 (A$000)
Medicaments (incl veterinary) 331 Tobacco, manufactured 5,754
Lighting fixtures & fittings 91 Edible products & preparations, nes 1,640
Heating & cooling equipment & parts 89 Alcoholic beverages 1,186
Pumps for liquids & parts 71 Crustaceans, f.c.f. 473
Australia's trade in services with Cuba, 2019-20 (A$m) Total share Rank Growth (yoy)
Exports of services to Cuba 2 0.0% 150th 0.0%
Imports of services from Cuba 15 0.0% 104th -55.9%

Australia's investment relationship with Cuba, 2019 (A$m) Total FDI

Australia's investment in Cuba np 0
Cuba's investment in Australia 0 0
Cuba's global merchandise trade relationships
Cuba's principal export destinations, 2018 Cuba's principal import sources, 2018
1 Venezuela 17.4% 1 China 17.2%
2 Russian Federation 13.4% 2 Spain 15.6%
3 Spain 11.5% 3 Russian Federation 6.2%
35 Australia 0.3% 77 Australia 0.0%

Compiled by the Statistics Section, DFAT, using the latest data from the ABS, the IMF and various international sources
(a) Economic indicators data is from the IMF WEO where available, the EIU or other reputable source. Data may include forecasts or projections for recent years. GNI may be shown in lieu of GDP for countries where GDP data is unavailable.
(b) Merchandise trade data is based on published and unpublished ABS data. May exclude confidential items of trade. Totals may not add up due to rounding. Investment data is stocks as at end December.
All data may be subject to future revisions.
GDP - Gross Domestic Product PPP - Purchasing power parity GNI - Gross National Income na - Data is not available np - Data is not published .. - Data is not meaningful Primary - Primary goods STM - Simply transformed manufactures
ETM - Elaborately transformed manufactures Other - Other goods including non-monetary gold f.c.f. - Fresh, chilled or frozen nes - Not elsewhere specified