Cuba ranked 69/197 by economy size with a GDP of $107B and 86/197 by GDP per capita at $9,605.
In 2020, Cuba made up 0.12% of the world's economy, compared to 0.19% in 1970.
Cuba GDP & GDP growth by year
| Year | GDP | GDP growth |
|---|---|---|
| 2024 | - | -1.06% |
| 2023 | - | -1.93% |
| 2022 | - | 1.77% |
| 2021 | - | 1.25% |
| 2020 | $107,352,000,000 | -10.9% |
| 2019 | $103,427,600,000 | -0.16% |
| 2018 | $100,050,036,100 | 2.25% |
| 2017 | $96,850,649,700 | 1.81% |
| 2016 | $91,370,407,900 | 0.51% |
| 2015 | $87,132,800,000 | 4.44% |
| 2014 | $80,656,100,000 | 1.05% |
| 2013 | $77,148,000,000 | 2.75% |
| 2012 | $73,141,000,000 | 3.01% |
| 2011 | $68,990,000,000 | 2.8% |
| 2010 | $59,562,962,963 | 2.39% |
| 2009 | $57,481,481,481 | 1.45% |
| 2008 | $56,302,129,630 | 4.12% |
| 2007 | $54,262,870,370 | 7.26% |
| 2006 | $48,835,925,926 | 12.1% |
| 2005 | $42,643,836,100 | 11.2% |
| 2004 | $38,203,000,000 | 5.77% |
| 2003 | $35,901,200,000 | 3.79% |
| 2002 | $33,590,500,000 | 1.42% |
| 2001 | $31,682,400,000 | 3.19% |
| 2000 | $30,565,400,000 | 5.91% |
| 1999 | $28,364,615,200 | 6.19% |
| 1998 | $25,736,331,200 | 0.16% |
| 1997 | $25,365,908,100 | 2.78% |
| 1996 | $25,017,368,700 | 7.84% |
| 1995 | $30,429,803,651 | 2.46% |
| 1994 | $28,448,326,757 | 0.72% |
| 1993 | $22,367,254,865 | -14.9% |
| 1992 | $22,085,858,243 | -11.6% |
| 1991 | $24,316,556,026 | -10.7% |
| 1990 | $28,645,436,569 | -2.95% |
| 1989 | $27,023,468,666 | 0.68% |
| 1988 | $27,458,999,472 | 3.71% |
| 1987 | $25,213,935,012 | -2.4% |
| 1986 | $24,226,574,634 | 0.1% |
| 1985 | $22,920,490,774 | 1.6% |
| 1984 | $24,039,383,608 | 7.93% |
| 1983 | $22,204,940,512 | 5.41% |
| 1982 | $20,953,510,235 | 8.92% |
| 1981 | $20,150,254,096 | 19.7% |
| 1980 | $19,912,889,861 | -4.85% |
| 1979 | $19,584,443,288 | 1.09% |
| 1978 | $17,844,705,325 | 6.6% |
| 1977 | $14,206,158,675 | 8.71% |
| 1976 | $13,789,579,903 | 5.43% |
| 1975 | $13,027,415,244 | 9.48% |
| 1974 | $11,405,957,317 | 0.98% |
| 1973 | $9,987,709,650 | 3.43% |
| 1972 | $8,135,150,892 | 4.83% |
| 1971 | $6,914,658,400 | 8.58% |
| 1970 | $5,693,005,200 | - |
Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).
GeoRank.org/economy/cuba | CC BY 
Cuba GDP per capita by year
| Year | Current $ | |
|---|---|---|
| GDP per capita | GDP per capita, PPP | |
| 2020 | $9,605 | - |
| 2019 | $9,232 | - |
| 2018 | $8,911 | - |
| 2017 | $8,611 | - |
| 2016 | $8,111 | $12,300 |
| 2015 | $7,728 | - |
| 2014 | $7,147 | - |
| 2013 | $6,828 | - |
| 2012 | $6,471 | - |
| 2011 | $6,104 | - |
| 2010 | $5,272 | $10,200 |
| 2009 | $5,089 | $9,700 |
| 2008 | $4,986 | $9,500 |
| 2007 | $4,807 | $11,000 |
| 2006 | $4,330 | $4,000 |
| 2005 | $3,786 | $3,500 |
| 2004 | $3,399 | $3,000 |
| 2003 | $3,203 | $2,900 |
| 2002 | $3,005 | $2,300 |
| 2001 | $2,843 | - |
| 2000 | $2,751 | $1,700 |
| 1999 | $2,562 | $1,700 |
| 1998 | $2,332 | - |
| 1997 | $2,306 | - |
| 1996 | $2,282 | - |
| 1995 | $2,785 | - |
| 1994 | $2,613 | - |
| 1993 | $2,063 | - |
| 1992 | $2,048 | - |
| 1991 | $2,269 | - |
| 1990 | $2,694 | - |
| 1989 | $2,566 | - |
| 1988 | $2,632 | - |
| 1987 | $2,440 | - |
| 1986 | $2,365 | - |
| 1985 | $2,257 | - |
| 1984 | $2,386 | - |
| 1983 | $2,222 | - |
| 1982 | $2,114 | - |
| 1981 | $2,046 | - |
| 1980 | $2,031 | - |
| 1979 | $2,006 | - |
| 1978 | $1,837 | - |
| 1977 | $1,472 | - |
| 1976 | $1,441 | - |
| 1975 | $1,374 | - |
| 1974 | $1,217 | - |
| 1973 | $1,079 | - |
| 1972 | $892 | - |
| 1971 | $770 | - |
| 1970 | $645 | - |
Data sources: World Bank | Economy & Growth (1970–2020, retrieved 2026-04-06); Central Intelligence Agency (CIA) (1999–2016, retrieved 2026-02-20).
GeoRank.org/economy/cuba | CC BY
Cuba has a GDP per capita of $9,605, ranking 86/197, a GDP per capita based on purchasing power parity (PPP) of $12,300, ranking 124/197, and a median annual after tax income of $3,075, ranking 141/197.
Cuba GDP rankings by year
| Year | Rank | ||
|---|---|---|---|
| GDP | GDP per capita | GDP per capita, PPP | |
| 2020 | 61 | 69 | - |
| 2019 | 62 | 79 | - |
| 2018 | 63 | 81 | - |
| 2017 | 62 | 79 | - |
| 2016 | 62 | 77 | 100 |
| 2015 | 64 | 80 | - |
| 2014 | 67 | 90 | - |
| 2013 | 65 | 92 | - |
| 2012 | 66 | 94 | - |
| 2011 | 65 | 93 | - |
| 2010 | 67 | 95 | 98 |
| 2009 | 66 | 91 | 100 |
| 2008 | 70 | 97 | 100 |
| 2007 | 66 | 89 | 90 |
| 2006 | 65 | 90 | 134 |
| 2005 | 64 | 87 | 134 |
| 2004 | 61 | 86 | 139 |
| 2003 | 59 | 80 | 136 |
| 2002 | 59 | 79 | 144 |
| 2001 | 60 | 82 | - |
| 2000 | 60 | 81 | 159 |
| 1999 | 61 | 82 | 156 |
| 1998 | 62 | 84 | - |
| 1997 | 62 | 88 | - |
| 1996 | 60 | 86 | - |
| 1995 | 56 | 77 | - |
| 1994 | 57 | 74 | - |
| 1993 | 59 | 82 | - |
| 1992 | 58 | 76 | - |
| 1991 | 59 | 73 | - |
| 1990 | 58 | 65 | - |
| 1989 | 53 | 61 | - |
| 1988 | 50 | 59 | - |
| 1987 | 53 | 61 | - |
| 1986 | 48 | 57 | - |
| 1985 | 46 | 58 | - |
| 1984 | 45 | 58 | - |
| 1983 | 46 | 58 | - |
| 1982 | 50 | 63 | - |
| 1981 | 53 | 65 | - |
| 1980 | 51 | 63 | - |
| 1979 | 48 | 54 | - |
| 1978 | 42 | 50 | - |
| 1977 | 48 | 53 | - |
| 1976 | 43 | 52 | - |
| 1975 | 44 | 51 | - |
| 1974 | 47 | 53 | - |
| 1973 | 42 | 49 | - |
| 1972 | 42 | 48 | - |
| 1971 | 43 | 49 | - |
| 1970 | 44 | 52 | - |
Data sources: World Bank | Economy & Growth (1970–2020, retrieved 2026-04-06); Central Intelligence Agency (CIA) (1999–2016, retrieved 2026-02-20).
GeoRank.org/economy/cuba | CC BY
Compared with 2000, in 2020 Cuba is ranked 61st out of 193 by GDP (down from 60th), 69th by GDP per capita (up from 81st), and 100th by GDP per capita PPP (up from 159th).
Economic indicators
Cuba
|
Rank | |
|---|---|---|
| Gross domestic product |
$107B
2020 |
69/197 |
| GDP growth |
-1.06%
2023-2024 |
182/194 |
| GDP per capita |
$9,605
2020 |
86/197 |
| GDP per capita, PPP |
$12,300
2016 |
124/197 |
| Average annual personal income after taxes |
$3,075
2026 |
141/197 |
| Government expenditure, % of GDP |
49%
2025 |
21/195 |
| Consumer prices inflation |
5.5%
2019-2020 |
46/195 |
| Unemployment rate |
1.7%
2018 |
178/196 |
| Population |
10894785
|
87/197 |
Inflation rate by year
| Year | Inflation |
|---|---|
| 2020 | 5.5% |
| 2019 | 5.5% |
| 2018 | 5.5% |
| 2017 | - |
| 2016 | 4.5% |
| 2015 | 4.4% |
| 2014 | - |
| 2013 | 6% |
| 2012 | 5.5% |
| 2011 | 4.7% |
| 2010 | 0.7% |
| 2009 | -0.5% |
| 2008 | 3.4% |
| 2007 | 3.1% |
| 2006 | 5% |
| 2005 | 7% |
| 2004 | 3.1% |
| 2003 | 4.1% |
| 2002 | 7.1% |
| 2001 | - |
| 2000 | - |
| 1999 | 0.3% |
Data sources: Central Intelligence Agency (CIA) (1999–2020, retrieved 2026-02-20).
GeoRank.org/economy/cuba | CC BY
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 above shows consumer price inflation by year.
Balance of trade
|
Cuba
|
Rank | |
|---|---|---|
| Imports of goods and services, % of GDP |
82.4%
2024 |
20/181 |
| Exports of goods and services, % of GDP |
42.5%
2024 |
71/193 |
Cuba 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 |
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 |
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 | 25.2 | 195/197 |
| Property rights | 27.7 | 148/182 |
| Government integrity | 33 | 123/182 |
| Judicial effectiveness | 16 | 155/182 |
| Tax burden | 51.9 | 177/182 |
| Government spending | 0 | 173/180 |
| Fiscal health | 0 | 176/181 |
| Business freedom | 41.4 | 153/182 |
| Labor freedom | 20 | 181/182 |
| Monetary freedom | 20 | 175/180 |
| Trade freedom | 72.8 | 86/181 |
| Investment freedom | 10 | 170/181 |
| Financial freedom | 10 | 175/181 |
Economic freedom by year
| Year | Index | ||||
|---|---|---|---|---|---|
| Economic freedom | Judicial effectiveness | Tax burden | Government spending | Fiscal health | |
| 2026 | 25.2 | 16 | 51.9 | 0 | 0 |
| 2025 | 25.4 | 14.3 | 51.9 | 0 | 0 |
| 2024 | 25.7 | 15.2 | 51.9 | 0 | 0 |
| 2023 | 24.3 | 36.6 | 51.9 | 0 | 0 |
| 2022 | 29.5 | 15.6 | 48.4 | 0 | 11.4 |
| 2021 | 28.1 | 10 | 47.1 | 0 | 14.6 |
| 2020 | 26.9 | 10 | 49.5 | 0 | 14.8 |
| 2019 | 27.8 | 10 | 48.8 | 0 | 15.6 |
| 2018 | 31.9 | 10 | 49 | 0 | 64.4 |
| 2017 | 33.9 | 10 | 51.3 | 0 | 81.2 |
| 2016 | 29.8 | - | 52.1 | 0 | - |
| 2015 | 29.6 | - | 61.8 | 0 | - |
| 2014 | 28.7 | - | 60 | 0 | - |
| 2013 | 28.5 | - | 62.7 | 0 | - |
| 2012 | 28.3 | - | 61.5 | 0 | - |
| 2011 | 27.7 | - | 49 | 0 | - |
| 2010 | 26.7 | - | 45.9 | 0 | - |
| 2009 | 27.9 | - | 45.9 | 0 | - |
| 2008 | 27.5 | - | 54.8 | 0 | - |
| 2007 | 28.6 | - | 51.7 | 10 | - |
| 2006 | 29.3 | - | 44.2 | 0 | - |
| 2005 | 35.5 | - | 46.7 | 5.9 | - |
| 2004 | 34.4 | - | 49.9 | 14.8 | - |
| 2003 | 35.1 | - | 50.9 | 18.3 | - |
| 2002 | 32.4 | - | 46.5 | 12.5 | - |
| 2001 | 31.6 | - | 46.5 | 0 | - |
| 2000 | 31.3 | - | 47.6 | 0 | - |
| 1999 | 29.7 | - | 47.6 | 10.2 | - |
| 1998 | 28.2 | - | 47.6 | 0 | - |
| 1997 | 27.8 | - | 47.6 | 0 | - |
| 1996 | 27.8 | - | 47.6 | 0 | - |
| 1995 | 27.8 | - | 47.6 | 0 | - |
Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).
GeoRank.org/economy/cuba | CC BY
Cuba is ranked 173/174 for economic freedom with a score of 25.2, compared to 161/162 and a score of 29.3 in 2006.
Other economic metrics
|
Cuba
|
Rank | |
|---|---|---|
| Services, % of GDP |
73.4%
2024 |
14/191 |
| Industry, % of GDP |
23.8%
2024 |
99/194 |
| Agriculture, forestry, and fishing, % of GDP |
1.24%
2024 |
166/193 |
|
GNI, Atlas method
|
$101B
2019 |
70/194 |
| Total reserves including gold |
$144M
1960 |
173/177 |
|
Net outflows of foreign direct investment
|
$0
2024 |
144/193 |
|
Gross capital formation, % of GDP
|
9.87%
2020 |
169/178 |
Compare Cuba vs other countries
GDP per capita map
Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).
GeoRank.org/economy/cuba | CC BY
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Data sources:
- World Bank | Economy & Growth (1960–2025, retrieved 2026-04-06)
- The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
- U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
- Central Intelligence Agency (CIA) (1999–2020, retrieved 2026-02-20)
- TradeMap (2021–2022, retrieved 2026-02-08)
- United Nations | World Population Prospects (2026, retrieved 2026-03-10)
- LivingCost (2026, retrieved 2025-10-14)
Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.
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.
Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.
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.