The Gross Domestic Product (GDP) in Cuba expanded 1.70 percent in the second quarter of 2022 over the same quarter of the previous year. GDP Annual Growth Rate in Cuba averaged 1.10 percent from 2011 until 2022, reaching an all time high of 10.90 percent in the fourth quarter of 2021 and a record low of -20.50 percent in the second quarter of 2020. source: National Office of Statistics, Republic of Cuba



Related Last Previous Unit Reference
Full Year GDP Growth -1.10 -1.90 percent Dec 2024
GDP per Capita 7381.40 7433.43 USD Dec 2024


Cuba GDP Annual Growth Rate
Cuba, the most populous country in the Caribbean, is one of the last communist regimes in the world. The government controls the economy and employs more than 80 percent of the working force. While the most important sector of the economy is services (around 75 percent of GDP), mining, oil production, remittances and tourism are crucial in supporting state revenue. Since the US has maintained a trade embargo against Cuba for over 50 years, growth prospects remain weak. Yet inthe last few years, in order to boost the economy, the government has initiated some market reforms like allowing setting up small businesses and property ownership.
Actual Previous Highest Lowest Dates Unit Frequency
1.70 10.90 10.90 -20.50 2011 - 2022 percent Quarterly
1997=100, NSA