Publish your articles and forecasts in our website. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Undoubtedly, 2019 will have great challenges, without a doubt the economy will once again be the great battlefield, but from my perspective the most important challenges are not strictly economic. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Then, without resources, coming from exports and without new credits, we return to the point of departure. The Trading Economics Application Programming Interface (API) provides direct access to our data. It is also true that national investment, the one that comes from the State. Adding those millions to the national effort within Cuba, even when the figure is half, can also be of significant help. Cuba gdp for 2017 was … There are still important reserves, for example in the so-called self-employed sector and in non-agricultural cooperatives, both constrained to professions with low added value and low technological complexity. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. It is what in economists’ jargon would be called GDP and exports highly depend on imports, something that has been studied and demonstrated by more than one doctoral thesis. GDP of Cuba increased from 28,364,615,200 billion US dollars in 1999 to 100,023,000,000 billion US dollars in 2018 growing at an average annual rate of 6.95%. In the productive sector, the largest number of people employed is in the agricultural sector, which is one of those with the lowest productivity. How many days does it take in the countries that are our competitors in the region? Its causes are definitely structural. Data. You can change your personal cookie settings through your internet browser settings. Its overall score has decreased by 0.9 point due to a plunge in the score for property rights. As expected, 2019 will be a very tense year in terms of the economy and will also be difficult in political terms. Leverage our AI Workflow Tools and online data environment to manipulate, visualize, present, and export data. Direct access to our calendar releases and historical data. Adding those millions to the national effort within Cuba, even when the figure is half, can also be of significant help. Foreign investment appears as one of those opportunities to break the cycle. The money goes where there is money. It is true that some procedures have been revised, it is also true that attempts have been made to make those procedures more palatable, but it is also true that compared to Cuba’s competitors in the region, they are still far from those standards. The other way to resolve it would be through credits, which would have to be punctually honored to be able to continue being a “reliable credit subject.”. Producing requires resources. The description is composed by our digital data assistant. Okay to continue Cuba recorded a Current Account surplus of 1.40 percent of the country's Gross Domestic Product in 2019. That “getting it” takes between 12 and 17 years, making it one of the “investments” that takes the longest to recover. Change is risk, and contradictorily to our history, the risk culture is not an established practice in the decision-making processes in Cuba, at least in business terms. We need a more proactive, intelligent and concrete attitude from the leaders promoting – not hindering or delaying – safe and particular solutions to the problems, with the continuous and intense search for agile and efficient answers. Very simple issues such as renting a house, buying a car, etc. Lastly, it is essential to create jobs in those sectors that have higher productivity. OnCuba and the OnCuba logo are registered® trademarks of Fuego Enterprises, Inc., its subsidiaries or divisions. How many of those intentions become new investments? Promoting solutions, even those that may seem safe, implies a high risk, especially when those decisions introduce “novel” elements, or when they lead to little-trodden paths or when they somehow imply questioning the way something “has always been done.”. Professor Mesa-Lago is an expert on Cuba’s economy. It is also true that national investment, the one that comes from the State, can be better used and better executed, and important reserves remain there, as the minister of economy has affirmed. Change generates uncertainty in the future, abandoning trodden paths, learning again, constructing new paradigms that often question the status quo. In our country a decisive percentage of the economy depends on the state business system. GRAVITON | Insights from Apple's Financial Statements, RIWI | Chinese More Optimistic About Financial Futures Than are Americans, Current account balance as a share of GDP. World and regional statistics, national data, maps and rankings, Discover new signals and insights from leading alternative and fundamental data providers, Latest releases of new datasets and data updates from different sources around the world. Some examples: we want to encourage exports but the overvalued exchange rate encourages imports and punishes the exporter; we want to keep our qualified work force but we have delayed for more than 20 years a wage reform that would encourage the most qualified professions; we need a strong state business system, which plays the decisive role, but we have returned to pyramidal organizational structures where state-owned companies have hardly enough independence to make the decisions they need; we have recognized the need for non-state forms, but in all the “legislations” that have been drawn up in this respect, the word “control” prevails over that of promotion and support; we need foreign direct investment to be able to grow, but there is a great asymmetry between the work of promotion and that of the facilitation of businesses. As if by magic, dozens of new mini ministries emerged, which also parasitize companies. This page provides - Cuba Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. As expected, 2019 will be a very tense year in terms of the economy and will also be difficult in political terms. We are witnessing a significant decrease of this resource due to population aging and emigration. However, greater private property and free market rights were granted by the 2019 Constitution. Cuba gdp for 2018 was $100.02B, a 3.28% increase from 2017. the amount of capital of Cubans invested abroad at more than 300 million dollars.

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