Skip to content

Economy of Cuba vs Palestine compared: GDP & Debt

Updated on by Georank team

Cuba has a GDP of $107B compared to $13.7B for Palestine, ranking 69/197 and 146/197 by economy size, respectively.

Cuba vs Palestine GDP by year

Cuba
Palestine
1x
Year GDP, current $
Cuba Palestine
2024 - $13,711,100,000
2023 - $17,847,900,000
2022 - $19,165,500,000
2021 - $18,109,000,000
2020 $107,352,000,000 $15,531,700,000
2019 $103,427,600,000 $17,133,500,000
2018 $100,050,036,100 $16,276,600,000
2017 $96,850,649,700 $16,128,000,000
2016 $91,370,407,900 $15,405,400,000
2015 $87,132,800,000 $13,972,400,000
2014 $80,656,100,000 $13,989,700,000
2013 $77,148,000,000 $13,515,500,000
2012 $73,141,000,000 $12,208,400,000
2011 $68,990,000,000 $11,186,100,000
2010 $59,562,962,963 $9,681,500,000
2009 $57,481,481,481 $8,085,700,000
2008 $56,302,129,630 $7,310,400,000
2007 $54,262,870,370 $5,815,700,000
2006 $48,835,925,926 $5,348,300,000
2005 $42,643,836,100 $5,125,700,000
2004 $38,203,000,000 $4,603,100,000
2003 $35,901,200,000 $3,968,000,000
2002 $33,590,500,000 $3,555,800,000
2001 $31,682,400,000 $4,003,700,000
2000 $30,565,400,000 $4,313,600,000
1999 $28,364,615,200 $4,271,200,000
1998 $25,736,331,200 $4,067,800,000
1997 $25,365,908,100 $3,759,800,000
1996 $25,017,368,700 $3,409,600,000
1995 $30,429,803,651 $3,282,800,000
1994 $28,448,326,757 $2,843,300,000
1993 $22,367,254,865 -
1992 $22,085,858,243 -
1991 $24,316,556,026 -
1990 $28,645,436,569 -
1989 $27,023,468,666 -
1988 $27,458,999,472 -
1987 $25,213,935,012 -
1986 $24,226,574,634 -
1985 $22,920,490,774 -
1984 $24,039,383,608 -
1983 $22,204,940,512 -
1982 $20,953,510,235 -
1981 $20,150,254,096 -
1980 $19,912,889,861 -
1979 $19,584,443,288 -
1978 $17,844,705,325 -
1977 $14,206,158,675 -
1976 $13,789,579,903 -
1975 $13,027,415,244 -
1974 $11,405,957,317 -
1973 $9,987,709,650 -
1972 $8,135,150,892 -
1971 $6,914,658,400 -
1970 $5,693,005,200 -

Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

GeoRank.org/economy/cuba/palestine | CC BY

GDP per capita in Cuba vs Palestine by year

Cuba
GDP per capita

GDP per capita, PPP
Palestine
GDP per capita

GDP per capita, PPP
1x
Year Current $
Cuba Palestine
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 - - $2,592 $4,371
2023 - - $3,455 $5,950
2022 - - $3,800 $6,163
2021 - - $3,679 $5,663
2020 $9,605 - $3,234 $5,956
2019 $9,232 - $3,657 $6,508
2018 $8,911 - $3,562 $6,216
2017 $8,611 - $3,620 $6,107
2016 $8,111 $12,300 $3,528 $6,062
2015 $7,728 - $3,272 $5,770
2014 $7,147 - $3,352 $5,382
2013 $6,828 - $3,315 $5,288
2012 $6,471 - $3,067 $5,215
2011 $6,104 - $2,881 $4,495
2010 $5,272 $10,200 $2,557 $4,121
2009 $5,089 $9,700 $2,192 $3,950
2008 $4,986 $9,500 $2,035 $3,713
2007 $4,807 $11,000 $1,664 $3,486
2006 $4,330 $4,000 $1,570 $3,354
2005 $3,786 $3,500 $1,544 $3,372
2004 $3,399 $3,000 $1,422 $3,014
2003 $3,203 $2,900 $1,258 $2,469
2002 $3,005 $2,300 $1,156 $2,179
2001 $2,843 - $1,336 $2,515
2000 $2,751 $1,700 $1,476 $2,783
1999 $2,562 $1,700 $1,499 $3,052
1998 $2,332 - $1,465 $2,852
1997 $2,306 - $1,389 $2,530
1996 $2,282 - $1,317 $2,269
1995 $2,785 - $1,327 $2,302
1994 $2,613 - $1,202 $2,201
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 (1970–2024, retrieved 2026-04-06); Central Intelligence Agency (CIA) (1999–2016, retrieved 2026-02-20).

GeoRank.org/economy/cuba/palestine | CC BY

Cuba's GDP per capita is $9,605, ranking 86/197, compared to $2,592 in Palestine, ranking 147/197. Adjusted for purchasing power (GDP per capita PPP), Cuba ranks 124th at $12,300, while Palestine ranks 164th at $4,371.

Economic indicators

Cuba Palestine
Gross domestic product
$107B
2020
$13.7B
2024
GDP rank
69/197
2020
146/197
2024
GDP growth
-1.06%
2023-2024
-26.6%
2023-2024
GDP per capita
$9,605
2020
$2,592
2024
GDP per capita rank
86/197
2020
147/197
2024
GDP per capita, PPP
$12,300
2016
$4,371
2024
GDP per capita PPP rank
124/197
2016
164/197
2024
Average annual personal income after taxes
$3,075
2026
$6,862
2026
Market capitalization of domestic companies n/a
$4.08B
2024
Income share by richest 10% n/a
27.1%
2023
Income share by poorest 10% n/a
2.5%
2023
Government expenditure, % of GDP
49%
2025
20%
2025
Consumer prices inflation
5.5%
2019-2020
53.7%
2023-2024
Unemployment rate
1.7%
2018
31.4%
2024
Population
10894785
5500288

Inflation comparison by year

Inflation
Cuba

Palestine
1x
Year Consumer prices inflation
Cuba Palestine
2024 - 53.7%
2023 - 5.87%
2022 - 3.74%
2021 - 1.24%
2020 5.5% -0.74%
2019 5.5% 1.58%
2018 5.5% -0.2%
2017 - 0.21%
2016 4.5% -0.22%
2015 4.4% 1.43%
2014 - 1.73%
2013 6% 1.72%
2012 5.5% 2.78%
2011 4.7% 2.88%
2010 0.7% 3.75%
2009 -0.5% 2.75%
2008 3.4% 9.89%
2007 3.1% 1.86%
2006 5% 3.84%
2005 7% 4.11%
2004 3.1% 3%
2003 4.1% 4.4%
2002 7.1% 5.71%
2001 - 1.22%
2000 - 2.8%
1999 0.3% 5.54%
1998 - 5.58%
1997 - 7.09%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06); Central Intelligence Agency (CIA) (1999–2020, retrieved 2026-02-20).

GeoRank.org/economy/cuba/palestine | CC BY

Over the past 22 years, Cuba has recorded an average annual inflation rate of 4.16%, compared with 2.73% in Palestine. In 2020, inflation was 5.5% in Cuba and 53.7% in Palestine.

Top exports between countries

Cuba
Export category Export value
Processed food, beverages & tobacco $267K
Wood & paper products $7K
Palestine
Export category Export value

Balance of trade

Cuba Palestine
Current account balance n/a
-$2.9B
2024
Current account balance ranking n/a
155/190
2024
Current account balance, % of GDP n/a
-21.1%
2024
Goods imports n/a
$6.87B
2024
Goods exports n/a
$2.37B
2024
Service imports n/a
$1.39B
2024
Service exports n/a
$514M
2024
Imports of goods and services, % of GDP
82.4%
2024
60.3%
2024
Exports of goods and services, % of GDP
42.5%
2024
21%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Cuba Palestine
Economic freedom 25.2 30
Economic freedom ranking 195/197 192/197
Property rights 27.7 n/a
Government integrity 33 n/a
Judicial effectiveness 16 n/a
Tax burden 51.9 n/a
Government spending 0 n/a
Fiscal health 0 n/a
Business freedom 41.4 n/a
Labor freedom 20 n/a
Monetary freedom 20 n/a
Trade freedom 72.8 n/a
Investment freedom 10 n/a
Financial freedom 10 n/a

Other economic metrics

Cuba Palestine
Services, % of GDP
73.4%
2024
58.5%
2023
Industry, % of GDP
23.8%
2024
15.6%
2023
Agriculture, forestry, and fishing, % of GDP
1.24%
2024
5.7%
2023
GNI, Atlas method
$101B
2019
$14.3B
2024
GNI per capita, PPP n/a
$4,660
2024
Total reserves including gold
$144M
1960
$1.33B
2024
Total reserves ranking
173/177
1960
138/177
2024
Net foreign direct investment n/a
-$151M
2024
Net inflows of foreign direct investment n/a
$162M
2024
Net outflows of foreign direct investment
$0
2024
$10.7M
2024
Poverty at national poverty lines n/a
29.2%
2016
Gross capital formation, % of GDP
9.87%
2020
23.5%
2024

GDP per capita map

1x

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/palestine | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-04-06)
  2. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  3. Central Intelligence Agency (CIA) (1999–2020, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (2026, retrieved 2026-03-09)
  5. TradeMap (2020–2022, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. 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.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

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.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

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.