Cuba 

Cuba landenbeleid

Beleid vastgesteld op 01 mei 2012

• Geen dekking

Landenklasse: 7

Cuba landenrapport

Atradius Dutch State Business Economic Research
Country Report last updated 24 January 2012
Country
CUBA

Political Situation
Stable But Uncertain

Head of state
President Raúl Castro.

Form of government
Since 1959 Cuba is ruled by the Partido Comunista de Cuba.

Internal Economic Situation
Poor

General situation
Cuba has an economy based on communist principles: state control, regulated prices, no market mechanism. This policy has delivered decades of low GDP/capita, shortages and market distortions. The weaker global economic climate in 2011/’12 has some impact on the Cuban economy through lower tourist arrivals. Nickel output will remain stable, contributing to a total real GDP-growth of appr. 2.4% p.a. The domestic demand will be hit by the removal of some subsidies; this policy will contribute to higher consumer prices, bringing the rate of inflation to > 5% in 2012/’13. Agricultural production is being prioritised by boosting food production. Moderately high corruption: 69th on the TI Index of 178 but large informal economy. 
 
External Economic Situation
Massive Payment Arrears

Main sources of foreign exchange
Nickel (34%), sugar (7%), tobacco (6%), tourism, transfers.

Main foreign markets
Venezuela (19%), China (18%), Canada (15%), Netherlands (8%). 

Main expenses of foreign exchange
Fuel (35%), machinery and equipment (16%).

Balance of payments 
Very large trade deficits; tourism and private transfers are the main hard currency earners. Official exchange rate Ps1=$1, unofficial rate >Ps24=$1, to be realigned in 2013. Cuba exports medical services to Venezuela in exchange for oil.