Cuba has been identified as one of the three nations in Latin America and the Caribbean that will not see growth in the value of goods exports by 2025, according to the latest report from the Economic Commission for Latin America and the Caribbean (CEPAL).
Cuban economist Pedro Monreal highlighted on his X account (formerly Twitter) that the findings in the report, named "International Trade Outlook for Latin America and the Caribbean 2025," place the island below Haiti in export performance, although slightly ahead of Venezuela. This reflects the structural degradation of Cuba's economy under the leadership of Miguel Díaz-Canel.
"Cuba is one of the three nations with no projected growth in the value of goods exports, performing worse than Haiti but better than Venezuela," Monreal commented while discussing CEPAL's report outcomes. According to him, the declining value of Cuba's exports this year is attributed to the dismal sugar harvest and falling international nickel prices, two of the nation's most significant yet adversely affected sectors.
Monreal further noted that data from the first half of 2025 indicates a simultaneous drop in both exports and imports, exacerbating the country's already dire economic situation.
"Given Cuba's heavy reliance on imports, the contraction in imports likely had a negative impact on economic growth," he warned.
CEPAL's report also highlights the widening trade deficit in Cuba's goods sector, while the government has not disclosed figures related to its services trade. Services remain one of the few areas generating income for the island, chiefly through the deployment of doctors abroad.
Experts consulted suggest that Cuba's poor performance in the report underscores the absence of genuine economic reforms, the collapse of the state-run productive sector, and the detrimental management of the communist regime, which continues to stifle private initiatives and restrict independent imports.
In contrast, nations like the Dominican Republic, Mexico, and Costa Rica exhibited positive export growth projections, driven by tourism, manufacturing, and trade integration with North America.
Cuba's economic plight remains among the most severe in the region, plagued by rampant inflation, shortages of food and energy, and a national currency with negligible value on the informal market. Meanwhile, the government persists in blaming the U.S. embargo for a crisis born from its own failed model.
Understanding Cuba's Economic Challenges
Why is Cuba's export performance declining?
Cuba's export performance is declining due to a poor sugar harvest and falling international nickel prices, impacting two of its key economic sectors.
How does the contraction of imports affect Cuba's economy?
The contraction of imports affects Cuba's economy negatively due to its high dependency on imported goods, which hampers economic growth.
What sectors are still generating income for Cuba?
The services sector, particularly through the deployment of doctors abroad, remains one of the few areas still generating income for Cuba.