Cuba ranked 69/197 by economy size with a GDP of $107B and 87/197 by GDP per capita at $9,605.
In 2025, Cuba made up 0.1% of the world's economy, compared to 0.19% in 1970.
The chart below shows GDP in nominal terms, GDP adjusted for inflation (in constant dollars), and a bar chart of year-over-year inflation-adjusted growth.
GDP, current $
GDP, constant 2015 $
GDP growth
| Year | GDP | GDP growth | |
|---|---|---|---|
| Current $ | Constant $ | ||
| 1970 | $5,693,005,200 | $23,120,654,813 | - |
| 1971 | $6,914,658,400 | $25,105,299,225 | 21.5% |
| 1972 | $8,135,150,892 | $26,317,053,149 | 17.7% |
| 1973 | $9,987,709,650 | $27,220,909,322 | 22.8% |
| 1974 | $11,405,957,317 | $27,488,896,946 | 14.2% |
| 1975 | $13,027,415,244 | $30,093,861,943 | 14.2% |
| 1976 | $13,789,579,903 | $31,727,344,869 | 5.85% |
| 1977 | $14,206,158,675 | $34,490,638,879 | 3.02% |
| 1978 | $17,844,705,325 | $36,765,640,924 | 25.6% |
| 1979 | $19,584,443,288 | $37,165,718,489 | 9.75% |
| 1980 | $19,912,889,861 | $35,363,388,174 | 1.68% |
| 1981 | $20,150,254,096 | $42,325,850,269 | 1.19% |
| 1982 | $20,953,510,235 | $46,100,569,047 | 3.99% |
| 1983 | $22,204,940,512 | $48,595,287,844 | 5.97% |
| 1984 | $24,039,383,608 | $52,448,756,410 | 8.26% |
| 1985 | $22,920,490,774 | $53,286,192,381 | -4.65% |
| 1986 | $24,226,574,634 | $53,336,975,926 | 5.7% |
| 1987 | $25,213,935,012 | $52,055,729,738 | 4.08% |
| 1988 | $27,458,999,472 | $53,984,675,578 | 8.9% |
| 1989 | $27,023,468,666 | $54,351,816,305 | -1.59% |
| 1990 | $28,645,436,569 | $52,749,217,703 | 6% |
| 1991 | $24,316,556,026 | $47,108,903,627 | -15.1% |
| 1992 | $22,085,858,243 | $41,653,408,482 | -9.17% |
| 1993 | $22,367,254,865 | $35,456,139,102 | 1.27% |
| 1994 | $28,448,326,757 | $35,710,334,910 | 27.2% |
| 1995 | $30,429,803,651 | $36,587,809,679 | 6.97% |
| 1996 | $25,017,368,700 | $39,455,836,485 | -17.8% |
| 1997 | $25,365,908,100 | $40,554,060,118 | 1.39% |
| 1998 | $25,736,331,200 | $40,618,600,304 | 1.46% |
| 1999 | $28,364,615,200 | $43,132,386,084 | 10.2% |
| 2000 | $30,565,400,000 | $45,683,563,279 | 7.76% |
| 2001 | $31,682,400,000 | $47,138,598,430 | 3.65% |
| 2002 | $33,590,500,000 | $47,810,239,203 | 6.02% |
| 2003 | $35,901,200,000 | $49,623,557,376 | 6.88% |
| 2004 | $38,203,000,000 | $52,487,103,646 | 6.41% |
| 2005 | $42,643,836,100 | $58,366,528,663 | 11.6% |
| 2006 | $48,835,925,926 | $65,408,954,115 | 14.5% |
| 2007 | $54,262,870,370 | $70,159,041,951 | 11.1% |
| 2008 | $56,302,129,630 | $73,047,369,064 | 3.76% |
| 2009 | $57,481,481,481 | $74,107,509,498 | 2.09% |
| 2010 | $59,562,962,963 | $75,878,940,053 | 3.62% |
| 2011 | $68,990,000,000 | $78,005,296,225 | 15.8% |
| 2012 | $73,141,000,000 | $80,357,078,126 | 6.02% |
| 2013 | $77,148,000,000 | $82,564,971,264 | 5.48% |
| 2014 | $80,656,100,000 | $83,429,902,609 | 4.55% |
| 2015 | $87,132,800,000 | $87,132,800,000 | 8.03% |
| 2016 | $91,370,407,864 | $87,579,654,549 | 4.86% |
| 2017 | $96,850,649,692 | $89,164,663,931 | 6% |
| 2018 | $100,050,036,096 | $91,169,039,693 | 3.3% |
| 2019 | $103,427,600,000 | $91,020,354,637 | 3.38% |
| 2020 | $107,351,800,000 | $81,054,459,000 | 3.79% |
| 2021 | - | $82,070,633,423 | - |
| 2022 | - | $83,527,427,216 | - |
| 2023 | - | $81,915,873,064 | - |
Economic Statistics of Cuba
Cuba
|
Rank | |
|---|---|---|
| Gross domestic product |
$107B
2020 |
69/197 |
| GDP growth |
3.79%
2019-2020 |
132/196 |
| GDP per capita |
$9,605
2020 |
87/197 |
| GDP per capita, PPP |
$12,300
2016 |
122/197 |
| Average annual personal income after taxes |
$3,584
2025 |
133/197 |
| Government expenditure, % of GDP |
49%
2025 |
22/195 |
| Consumer prices inflation |
5.5%
2019-2020 |
48/195 |
| Unemployment rate |
1.7%
2018 |
176/196 |
| Population |
10937204
|
86/197 |
Cuba's GDP per capita
Cuba has a GDP per capita of $9,605, ranking 87/197, a GDP per capita based on purchasing power parity (PPP) of $12,300, ranking 122/197, and a median annual after tax income of $3,584, ranking 133/197.
GDP per capita
GDP per capita, PPP
| Year | Current $ | |
|---|---|---|
| GDP per capita | GDP per capita, PPP | |
| 1970 | $645 | - |
| 1971 | $770 | - |
| 1972 | $892 | - |
| 1973 | $1,079 | - |
| 1974 | $1,217 | - |
| 1975 | $1,374 | - |
| 1976 | $1,441 | - |
| 1977 | $1,472 | - |
| 1978 | $1,837 | - |
| 1979 | $2,006 | - |
| 1980 | $2,031 | - |
| 1981 | $2,046 | - |
| 1982 | $2,114 | - |
| 1983 | $2,222 | - |
| 1984 | $2,386 | - |
| 1985 | $2,257 | - |
| 1986 | $2,365 | - |
| 1987 | $2,440 | - |
| 1988 | $2,632 | - |
| 1989 | $2,566 | - |
| 1990 | $2,694 | - |
| 1991 | $2,269 | - |
| 1992 | $2,048 | - |
| 1993 | $2,063 | - |
| 1994 | $2,613 | - |
| 1995 | $2,785 | - |
| 1996 | $2,282 | - |
| 1997 | $2,306 | - |
| 1998 | $2,332 | - |
| 1999 | $2,562 | $1,700 |
| 2000 | $2,751 | $1,700 |
| 2001 | $2,843 | - |
| 2002 | $3,005 | $2,300 |
| 2003 | $3,203 | $2,900 |
| 2004 | $3,399 | $3,000 |
| 2005 | $3,786 | $3,500 |
| 2006 | $4,330 | $4,000 |
| 2007 | $4,807 | $11,000 |
| 2008 | $4,986 | $9,500 |
| 2009 | $5,089 | $9,700 |
| 2010 | $5,272 | $10,200 |
| 2011 | $6,104 | - |
| 2012 | $6,471 | - |
| 2013 | $6,828 | - |
| 2014 | $7,147 | - |
| 2015 | $7,728 | - |
| 2016 | $8,111 | $12,300 |
| 2017 | $8,611 | - |
| 2018 | $8,911 | - |
| 2019 | $9,232 | - |
| 2020 | $9,605 | - |
Inflation rate by year
Over the past 17 years, Cuba has had an average annual inflation rate of 4.39%. In 2020, inflation was 5.5%. The bar chart below shows consumer price inflation by year.
| Year | Inflation |
|---|---|
| 1999 | 0.3% |
| 2000 | - |
| 2001 | - |
| 2002 | 7.1% |
| 2003 | 4.1% |
| 2004 | 3.1% |
| 2005 | 7% |
| 2006 | 5% |
| 2007 | 3.1% |
| 2008 | 3.4% |
| 2009 | -0.5% |
| 2010 | 0.7% |
| 2011 | 4.7% |
| 2012 | 5.5% |
| 2013 | 6% |
| 2014 | - |
| 2015 | 4.4% |
| 2016 | 4.5% |
| 2017 | - |
| 2018 | 5.5% |
| 2019 | 5.5% |
| 2020 | 5.5% |
Balance of trade
|
Cuba
|
Rank | |
|---|---|---|
| Imports of goods and services, % of GDP |
64.6%
2023 |
43/180 |
| Exports of goods and services, % of GDP |
43.5%
2023 |
66/193 |
Cuba's top 10 trading partners
Cuba's biggest trading partner accounting for 17.7%% of all exports and imports is Spain, with a trade balance between the two of -$649M — Cuba exports $347M worth of goods and services to Spain and imports $996M.
Below is the list of the top 10 trade partners of Cuba.
| Rank | Country | Trade value | Share of total trade | Export to | Import from | Top export to | Top import from |
|---|---|---|---|---|---|---|---|
| 1 |
Spain
|
$1.34B | 17.7% | $347M | $996M | Processed food, beverages & tobacco | Machinery & equipment |
| 2 |
China
|
$1.3B | 17.2% | $175M | $1.13B | Metals | Machinery & equipment |
| 3 |
United States
|
$450M | 5.94% | $2K | $450M | Machinery & equipment | Animal & marine products |
| 4 |
Mexico
|
$354M | 4.68% | $12.5M | $342M | Processed food, beverages & tobacco | Processed food, beverages & tobacco |
| 5 |
Argentina
|
$348M | 4.59% | $3.29M | $345M | Processed food, beverages & tobacco | Raw agricultural goods |
| 6 |
Brazil
|
$338M | 4.46% | $2.54M | $336M | Processed food, beverages & tobacco | Processed food, beverages & tobacco |
| 7 |
Germany
|
$288M | 3.8% | $40.8M | $247M | Processed food, beverages & tobacco | Machinery & equipment |
| 8 |
Algeria
|
$278M | 3.67% | $904K | $277M | Chemicals & pharma | Raw materials & minerals |
| 9 |
Vietnam
|
$255M | 3.36% | $36M | $219M | Chemicals & pharma | Raw agricultural goods |
| 10 |
Italy
|
$243M | 3.2% | $13.8M | $229M | Processed food, beverages & tobacco | Raw materials & minerals |
Cuba's top 10 exports
|
Cuba
|
Rank | |
|---|---|---|
| Metals | $1.16B | 71/192 |
| Processed food, beverages & tobacco | $578M | 97/192 |
| Business & finance services | $572M | 86/188 |
| IT & IP services | $174M | 92/183 |
| Raw materials & minerals | $148M | 146/193 |
| Chemicals & pharma | $130M | 109/193 |
| Animal & marine products | $83M | 111/192 |
| Wood & paper products | $32.3M | 118/192 |
| Machinery & equipment | $30.3M | 151/193 |
| Manufacturing & construction services | $18.4M | 116/164 |
Cuba's top 10 imports
|
Cuba
|
Rank | |
|---|---|---|
| Raw materials & minerals | $3.78B | 85/193 |
| Machinery & equipment | $1.63B | 131/193 |
| Transport & tourism services | $1.17B | 117/188 |
| Processed food, beverages & tobacco | $872M | 107/193 |
| Chemicals & pharma | $858M | 117/193 |
| Raw agricultural goods | $829M | 93/193 |
| Animal & marine products | $787M | 69/193 |
| Metals | $495M | 122/193 |
| Textiles & consumer goods | $403M | 128/193 |
| Wood & paper products | $144M | 132/193 |
Economic freedom indices
|
Cuba
|
Rank | |
|---|---|---|
| Economic freedom | 25.4 | 195/197 |
| Property rights | 29.9 | 143/182 |
| Government integrity | 33.4 | 143/182 |
| Judicial effectiveness | 14.3 | 143/182 |
| Tax burden | 51.9 | 176/181 |
| Government spending | 0 | 174/180 |
| Fiscal health | 0 | 174/181 |
| Business freedom | 42.3 | 151/182 |
| Labor freedom | 20 | 181/182 |
| Monetary freedom | 20 | 175/180 |
| Trade freedom | 72.8 | 82/181 |
| Investment freedom | 10 | 171/181 |
| Financial freedom | 10 | 175/181 |
Cuba's economic freedom by year
Cuba is ranked 178/180 for economic freedom with a score of 25.4, compared to 157/163 and a score of 35.5 in 2005.
Economic freedom
Judicial effectiveness
Tax burden
Government spending
Fiscal health
| Year | Index | ||||
|---|---|---|---|---|---|
| Economic freedom | Judicial effectiveness | Tax burden | Government spending | Fiscal health | |
| 1995 | 27.8 | - | 47.6 | 0 | - |
| 1996 | 27.8 | - | 47.6 | 0 | - |
| 1997 | 27.8 | - | 47.6 | 0 | - |
| 1998 | 28.2 | - | 47.6 | 0 | - |
| 1999 | 29.7 | - | 47.6 | 10.2 | - |
| 2000 | 31.3 | - | 47.6 | 0 | - |
| 2001 | 31.6 | - | 46.5 | 0 | - |
| 2002 | 32.4 | - | 46.5 | 12.5 | - |
| 2003 | 35.1 | - | 50.9 | 18.3 | - |
| 2004 | 34.4 | - | 49.9 | 14.8 | - |
| 2005 | 35.5 | - | 46.7 | 5.9 | - |
| 2006 | 29.3 | - | 44.2 | 0 | - |
| 2007 | 28.6 | - | 51.7 | 10 | - |
| 2008 | 27.5 | - | 54.8 | 0 | - |
| 2009 | 27.9 | - | 45.9 | 0 | - |
| 2010 | 26.7 | - | 45.9 | 0 | - |
| 2011 | 27.7 | - | 49 | 0 | - |
| 2012 | 28.3 | - | 61.5 | 0 | - |
| 2013 | 28.5 | - | 62.7 | 0 | - |
| 2014 | 28.7 | - | 60 | 0 | - |
| 2015 | 29.6 | - | 61.8 | 0 | - |
| 2016 | 29.8 | - | 52.1 | 0 | - |
| 2017 | 33.9 | 10 | 51.3 | 0 | 81.2 |
| 2018 | 31.9 | 10 | 49 | 0 | 64.4 |
| 2019 | 27.8 | 10 | 48.8 | 0 | 15.6 |
| 2020 | 26.9 | 10 | 49.5 | 0 | 14.8 |
| 2021 | 28.1 | 10 | 47.1 | 0 | 14.6 |
| 2022 | 29.5 | 15.6 | 48.4 | 0 | 11.4 |
| 2023 | 24.3 | 36.6 | 51.9 | 0 | 0 |
| 2024 | 25.7 | 15.2 | 51.9 | 0 | 0 |
| 2025 | 25.4 | 14.3 | 51.9 | 0 | 0 |
More economic indicators
|
Cuba
|
Rank | |
|---|---|---|
| Services, % of GDP |
70%
2023 |
25/191 |
| Industry, % of GDP |
27.5%
2023 |
72/194 |
| Agriculture, forestry, and fishing, % of GDP |
1.31%
2023 |
163/193 |
GNI, Atlas method
|
$101B
2019 |
69/194 |
| Total reserves including gold |
$144M
1960 |
173/177 |
|
Gross capital formation, % of GDP
|
9.88%
2020 |
170/176 |
Compare countries by 7 more topics
GDP per capita map
GDP per capita
Relevant pages:
Cuba topic pages:
Economy comparisons
Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.
Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.