US diplomatic representation:chief of mission:
Principal Officer Joseph SULLIVAN
US Interests Section:
USINT, Swiss Embassy, Calzada Entre L y M, Vedado Seccion, Havana
mailing address:
use street address
telephone:
33–3351 or 33–3543
FAX:
no service available at this time
note:
protecting power in Cuba is Switzerland - US Interests Section, Swiss
Embassy
Flag:
five equal horizontal bands of blue (top and bottom) alternating with
white; a red equilateral triangle based on the hoist side bears a
white five-pointed star in the center
@Cuba, Economy
Overview:
Cuba's heavily statist economy remains in a severe depression as a
result of the loss of massive amounts of economic aid from the former
Soviet Bloc. In 1989–93, GDP declined by about 40% and import
capability fell by about 80%. Reduced imports of fuel, spare parts,
and chemicals combined with rainy weather to cut the production of
sugar - the country's top export - from 7 million tons in 1992 to 4.3
million tons in 1993, causing a loss of more than $400 million in
export revenue. The government implemented several measures designed
to stem the economic decline, e.g., legalizing the use of foreign
currency by Cuban citizens in August 1993 in an attempt to increase
remittances of foreign exchange from abroad. Authorities in September
1993 began permitting self-employment in over 100 mostly service
occupations. Also in September the government broke up many state
farms into smaller, more autonomous cooperative units in an attempt to
increase worker incentives and boost depressed food production levels.
Fuel shortages persisted throughout 1993; draft animals and bicycles
continued to replace motor-driven vehicles, and the use of electricity
by households and factories was cut from already low levels. With the
help of foreign investment, tourism has been one bright spot in the
economy, with arrivals and earnings reaching record highs in 1993.
Government officials have expressed guarded optimism for 1994, as the
country struggles to achieve sustainable economic growth at a
much-reduced standard of living.
National product:
GNP - purchasing power equivalent - $13.7 billion (1993 est.)
National product real growth rate:
−10% (1993 est.)
National product per capita:
$1,250 (1993 est.)
Inflation rate (consumer prices):
NA%
Unemployment rate:
NA%
Budget:
revenues:
$12.46 billion
expenditures:
$14.45 billion, including capital expenditures of $NA (1990 est.)
Exports:
$1.5 billion (f.o.b., 1993 est.)
commodities:
sugar, nickel, shellfish, tobacco, medical products, citrus, coffee
partners:
Russia 28%, Canada 9%, China 5%, Ukraine 5%, Japan 4%, Spain 4% (1993
est.)
Imports:
$1.7 billion (c.i.f., 1993 est.)
commodities:
petroleum, food, machinery, chemicals
partners:
Venezuela 20%, China 9%, Spain 9%, Mexico 7%, Italy 4%, Canada 7%,
France 8% (1993 est.)
External debt:
$6.8 billion (convertible currency, July 1989)
Industrial production:
growth rate NA%
Electricity:
capacity:
3,889,000 kW
production:
16.248 billion kWh
consumption per capita:
1,500 kWh (1992)
Industries:
sugar milling and refining, petroleum refining, food and tobacco
processing, textiles, chemicals, paper and wood products, metals
(particularly nickel), cement, fertilizers, consumer goods,
agricultural machinery
Agriculture:
accounts for 11% of GNP (including fishing and forestry); key
commercial crops - sugarcane, tobacco, and citrus fruits; other
products - coffee, rice, potatoes, meat, beans; world's largest sugar
exporter; not self-sufficient in food (excluding sugar); sector hurt
by growing shortages of fuels and parts
Illicit drugs:
