Keywords
Cuban Economy, Cuban GDP, Venezuela, Cuban Economic Polices
Abstract
Amid ongoing economic reforms, Cuba faces its most severe crisis since the 1990s Soviet Union collapse. Transitioning into a service-oriented economy, it grapples with inefficiencies, a feeble production base, and a struggling external sector. Traditionally reliant on sugar, Cuba now depends on international tourism and professional services for hard currency. However, these lack domestic production ties, limiting economic impact. Systemic constraints, a trade deficit, and dependence on imports compound challenges. Fading Venezuelan support, U.S. sanctions, the COVID-19 pandemic, and geopolitical events exacerbate economic woes. This study delves into GDP growth, trade, financial struggles, and external factors, highlighting critical hurdles impeding Cuba's economic development.
Recommended Citation
Paolo Spadoni, The External Sector of Cuba’s Economy: Performance and Challenges, 17 FIU L. Rev. 635 (2023), https://doi.org/10.25148/lawrev.17.3.11.
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