Cuba Trade Balance
External balance on goods and services NE.RSB.GNFS.CD
Cuba's trade balance was $702.0M in 2020, ranked 125th globally. This represents a 57.7% decrease from 2019. Data from World Bank, covering 1970–2020.
Overview
Cuba's trade balance stood at $702.0M in 2020, a decline of +$958.9M from 2019. Cuba ranked 125th globally.
Cuba's trade balance has fluctuated significantly over the past five decades, with the country experiencing a substantial improvement in its exports and imports. The all-time peak of 3,947 billion USD in 2014 was followed by a decline in 2020, with a trade balance of 702 billion USD, ranking 125 globally. This improvement in trade balance in 2014 was largely driven by the country's growing oil exports. In contrast, the all-time trough of -3,675 billion USD in 1989 was a result of the country's economic stagnation following the collapse of the Soviet Union. Cuba's trade balance has also been influenced by peer countries, with Saudi Arabia, for instance, recording a trade balance of 664 billion USD in 2020. A shift in the global energy market or a significant change in Cuba's economic policies could alter the trajectory of its trade balance in the future.
Data & projection
| Year | Trade Balance | YoY change | Rank |
|---|---|---|---|
| 2020 | $702.0M | −$958.9M | #125 |
| 2019 | $1.7B | −$302.0M | #127 |
| 2018 | $2.0B | −$826.5M | #135 |
| 2017 | $2.8B | +$326.1M | #138 |
| 2016 | $2.5B | +$127.3M | #142 |
| 2015 | $2.3B | −$1.6B | #149 |
| 2014 | $3.9B | +$956.0M | #144 |
| 2013 | $3.0B | −$780.0M | #136 |
| 2012 | $3.8B | +$1.5B | #136 |
| 2011 | $2.2B | −$648.0M | #129 |
| 2010 | $2.9B | +$1.7B | #130 |
| 2009 | $1.2B | +$3.3B | #128 |
| 2008 | $-2.1B | −$3.6B | #57 |
| 2007 | $1.5B | +$1.4B | #125 |
| 2006 | $116.7M | −$1.0B | #112 |
Analysis
Cuba's trade balance was $702.0M in 2020, a decline of −$958.9M from 2019.
Frequently Asked Questions
Cuba's trade balance was $702.0M in 2020. Ranked 125th globally. This represents a 57.7% decrease from the previous year.
Cuba's trade balance peaked at $3.9B in 2014.
The lowest trade balance in Cuba was $-3.7B in 1989.
Cuba ranks 125th globally in trade balance as of 2020.
The World Bank indicator code is NE.RSB.GNFS.CD. Data sourced from World Bank.
Cuba's trade balance was approximately 702 million ($702.0M) in 2020.
The trade balance of Cuba in 2020 was $702.0M. This ranks 125th in the world.
Cite this page
@misc{historysaid_cuba_trade-balance,
title = {Cuba Trade Balance},
url = {https://historysaid.com/cuba/trade-balance/},
publisher = {HistorySaid},
year = {2026}
}