GFmag Online Readers Survey 2012
Cuba


Cuba Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Cuba; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bankCentral Bank of Cuba
International ReservesN/A
Gross Domestic Product - GDPN/A
GDP (Purchasing Power Parity)N/A
Real GDP growth
20002001200220032004200520062007
N/AN/AN/AN/AN/AN/AN/AN/A
2008200920102011*
N/AN/AN/AN/A

*Estimate

GDP per capita - current pricesN/A
GDP per capita - PPPN/A
GDP (PPP) - share of world total
19801990200020102015**
N/AN/AN/AN/AN/A

**Forecast

GDP - composition by sector
  • agriculture: 4% 
  • industry: 20.8% 
  • services: 75.2% (2011 estimate)

    • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP)N/A

(Data released on November 2010)

Inflation
2008200920102011*
N/A(2008)N/AN/AN/A

*Estimate

Unemployment rate
2008200920102011*
N/AN/AN/A(2009)N/A

*Estimate

Household saving ratesN/A

(Data released on November 2010)

Public debt (General government gross debt as a % of GDP)
20072008200920102011*
N/AN/AN/AN/AN/A

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2007200820092010*2011**
N/AN/AN/AN/AN/A

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: N/A

Moody's rating: Caa1

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Nov 2010)

Market value of publicly traded shares
200720082009
N/AN/AN/A
Largest companies in CubaN/A
DATA ON TRADE AND COMPETITIVENESS
Current account balanceN/A(After 2008)
Current account balance by percentage of GDPN/A(2009)
Exports as percent of GDP

(Exports of goods and services)

16% (1999)

(Data released on December 2010)

Shares in world total merchandising export0.03%(2007)

(Data were released in Nov 2011 and refer to 2010)

Shares in world total commercial services export0.26%(2007)

(Data were released in Nov 2011 and refer to 2010)

Total exportsUS$3.311 billion f.o.b. (2010 estimate)
Export commoditiessugar, nickel, tobacco, fish, medical products, citrus, coffee
Total importsUS$11.74 billion f.o.b. (2008 estimate)
Import commoditiespetroleum, food, machinery and equipment, chemicals
Exports - major partnersChina 27.5%, Canada 26.9%, Netherlands 11.1%, Spain 4.7% (2007)
Imports - major partnersVenezuela 29.6%, China 13.4%, Spain 10.4%, Canada 6%, US 5.1% (2007)
FDI inflows
200820092010
US$24 millionUS$24 million(2009)US$86 million(2009)
FDI outflows
200820092010
N/AN/AN/A
Value of cross-border M&A, by country of purchaser
2008200920102011
N/AN/A(2009)N/A(2009)N/A
Cross-border M&A deals worth over $3 billion completed in 2008

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 – 183. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: N/A(2009) (2010)

Subcategories:

Starting a business: N/A(2009)

Registering property: N/A

Paying Taxes: N/A

Getting credit: N/A

Protecting investors: N/A

Trading across border: N/A

Enforcing Contracts: N/A

(2010)

Global competitiveness ranking
(ranking by country on a basis of 142, the first is the best)		N/A

(2011/2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 177 Score: 27.7 (Repressed) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zoneUTC-5
Total area 109,886 km2 (2006)
CapitalHavana (2009)
CurrencyCuban pesos (CUP) (2009)
Government typeCommunist state (2009)
LanguagesSpanish
Religionsnominally 85% Roman Catholic prior to CASTRO assuming power; Protestants, Jehovah's Witnesses, Jews, and Santeria are also represented
Total population
1980199020002010*2015**
N/AN/AN/AN/AN/A

*Estimate    **Forecast

Urban population as % of total population
1960198020002009
58.4%68.1%75.6%75.7%
Population median age36.0 years (2006)
Population growth rate0% (2009)
Life expectancy78 years (2007)
Adult literacy100% (2000/2007)
% of population living on less than $2 a dayN/A
Inequality of wealth distribution (Gini index)

N/A

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:7
Civil Liberties:6 (2010)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

19.25% (2010)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population15.12% (Data were released in 2011 and refer to 2010)
Cost of living index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Havana: 53rd (2011)

CO2 emissions
(Metric tons of CO2 per capita)

2.8041 (2008)

GLOBAL FINANCE RANKINGS AND AWARDS

TOP 200 EMERGING MARKETS BANKS

2010:
  • OVERALL BIGGEST Banco de Credito y Comercio (Global, 2010)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE