Cuba - Statistics & Facts
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Cuba rejoices in the reputation of its revolutionary heritage. It is the largest island in the Caribbean and is strategically located south of the United States and east of Mexico. It comprises the main island, the Isla de la Juventud, and several smaller archipelagos. With Havana, the country’s capital and largest city, leading its urban pulse, this island nation is navigating a complex reality of declining demographics and economic uncertainty.
Yet, due to the ongoing embargo and limited export capacity, Cuba’s trade balance remains persistently negative, making economic self-sufficiency elusive. In January 2025, Cuba was announced as a partner country of the BRICS coalition , which could bring hope for a rebalancing of trade.
While its population trends reflect a maturing Cuban society, and its economy has shown signs of resilience, structural constraints persist. With evolving employment dynamics and ongoing economical agreements, the outlook for Cuba is one of hope that the endurance can translate into progress.
One of the last bastions of communism
Following independence from Spain in 1898, Cuba entered a new political era in 1959 when Fidel Castro's revolution established a communist regime. This led to comprehensive state control over education, health care, and employment. A U.S. embargo brought by President Kennedy in 1962 severed trade relations, including critical food and medical imports, increasing Cuba’s reliance on Soviet subsidies. Nevertheless, after the fall of the Soviet Union in 1991, the end of such subsidies triggered a prolonged economic contraction in the Caribbean country, further aggravating the negative migration rate that holds until today.Economic performance under pressure
Despite prolonged sanctions, Cuba's economy experienced a 47 percent increase in gross domestic product (GDP) between 2012 and 2020. A consistent real GDP growth rate during much of that period signaled resilience. However, the country remains heavily import-dependent. Spain, Cuba’s top import partner in 2023, accounted for about 24 percent of total imports.Yet, due to the ongoing embargo and limited export capacity, Cuba’s trade balance remains persistently negative, making economic self-sufficiency elusive. In January 2025, Cuba was announced as a partner country of the BRICS coalition , which could bring hope for a rebalancing of trade.
Labor market conditions
Employment in Cuba presents a dual reality shaped by central planning and limited private enterprise. Most Cubans work in the public sector, where wages are regulated and often low by international standards. The informal economy plays a growing role, especially in tourism, agriculture, and artisan services. Since 2021, the government relaxed its restrictions and issued more permits for private businesses and self-employment, resulting in increased labor flexibility.While its population trends reflect a maturing Cuban society, and its economy has shown signs of resilience, structural constraints persist. With evolving employment dynamics and ongoing economical agreements, the outlook for Cuba is one of hope that the endurance can translate into progress.
