External balance on goods and services in Cuba
Cuba: External balance on goods and services was -433.06 billion current LCU in 2024. ◆ Volatile
Latest (2024)
-433.06 billion current LCU
Change on year
down 78.4%
World rank
155th
of 193 countries
All-time high
3.95 billion current LCU
in 2014
All-time low
-433.06 billion current LCU
in 2024
Years of data
55
1970–2024
External balance on goods and services in Cuba, 1970–2024
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in current LCU.
Analysis
In 2024, external balance on goods and services in Cuba stood at -433.06 billion current LCU. That is the lowest value across all 55 years on record.
Compared with earlier readings it is down 78.4% on the previous year and down 11,071.9% over ten years.
Over the whole period, external balance on goods and services in Cuba peaked at 3.95 billion current LCU in 2014 and was at its lowest, -433.06 billion current LCU, in 2024.
That places Cuba 155th out of 193 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
External balance on goods and services in Cuba, year by year
| Year | current LCU | Change |
|---|---|---|
| 1970 | -657.87 million current LCU | — |
| 1971 | -799.14 million current LCU | +21.5% |
| 1972 | -895.98 million current LCU | +12.1% |
| 1973 | -956.61 million current LCU | +6.8% |
| 1974 | -1.08 billion current LCU | +13.0% |
| 1975 | -1.23 billion current LCU | +14.2% |
| 1976 | -1.31 billion current LCU | +6.1% |
| 1977 | -1.36 billion current LCU | +4.1% |
| 1978 | -1.59 billion current LCU | +16.3% |
| 1979 | -1.66 billion current LCU | +4.4% |
| 1980 | -1.65 billion current LCU | -0.2% |
| 1981 | -1.94 billion current LCU | +17.5% |
| 1982 | -2.05 billion current LCU | +5.6% |
| 1983 | -2.18 billion current LCU | +6.4% |
| 1984 | -2.49 billion current LCU | +14.2% |
| 1985 | -2.37 billion current LCU | -5.1% |
| 1986 | -2.43 billion current LCU | +2.8% |
| 1987 | -2.18 billion current LCU | -10.2% |
| 1988 | -2.31 billion current LCU | +5.6% |
| 1989 | -2.87 billion current LCU | +24.3% |
| 1990 | -2.29 billion current LCU | -20.1% |
| 1991 | -1.27 billion current LCU | -44.5% |
| 1992 | -214.16 million current LCU | -83.2% |
| 1993 | -418.33 million current LCU | +95.3% |
| 1994 | -272.93 million current LCU | -34.8% |
| 1995 | -597.18 million current LCU | +118.8% |
| 1996 | -500.00 million current LCU | -16.3% |
| 1997 | -737.20 million current LCU | +47.4% |
| 1998 | -1.03 billion current LCU | +39.6% |
| 1999 | -792.50 million current LCU | -23.0% |
| 2000 | -860.70 million current LCU | +8.6% |
| 2001 | -916.30 million current LCU | +6.5% |
| 2002 | -562.70 million current LCU | -38.6% |
| 2003 | -245.30 million current LCU | -56.4% |
| 2004 | 279.70 million current LCU | -214.0% |
| 2005 | 1.14 billion current LCU | +307.8% |
| 2006 | 126.00 million current LCU | -89.0% |
| 2007 | 1.59 billion current LCU | +1158.2% |
| 2008 | -2.30 billion current LCU | -245.1% |
| 2009 | 1.25 billion current LCU | -154.1% |
| 2010 | 3.12 billion current LCU | +150.5% |
| 2011 | 2.24 billion current LCU | -28.2% |
| 2012 | 3.77 billion current LCU | +68.3% |
| 2013 | 2.99 billion current LCU | -20.7% |
| 2014 | 3.95 billion current LCU | +32.0% |
| 2015 | 2.34 billion current LCU | -40.8% |
| 2016 | 2.46 billion current LCU | +5.4% |
| 2017 | 2.79 billion current LCU | +13.2% |
| 2018 | 1.96 billion current LCU | -29.6% |
| 2019 | 1.66 billion current LCU | -15.4% |
| 2020 | 702.00 million current LCU | -57.7% |
| 2021 | -55.81 billion current LCU | -8050.4% |
| 2022 | -81.55 billion current LCU | +46.1% |
| 2023 | -242.80 billion current LCU | +197.7% |
| 2024 | -433.06 billion current LCU | +78.4% |
Cuba compared with similar countries
- Cuba's -433.06 billion current LCU is below the median for upper middle income countries, which is -2.10 billion current LCU, 206.6× the median. (53 countries reporting)
- Cuba's -433.06 billion current LCU is below the median for Latin America & Caribbean, which is -509.00 million current LCU, 850.8× the median. (29 countries reporting)
Biggest year-on-year movements
Years where External balance on goods and services in Cuba changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2021 | -8050.4% | 702.00 million current LCU | -55.81 billion current LCU |
| 2007 | +1158.2% | 126.00 million current LCU | 1.59 billion current LCU |
| 2005 | +307.8% | 279.70 million current LCU | 1.14 billion current LCU |
| 2008 | -245.1% | 1.59 billion current LCU | -2.30 billion current LCU |
| 2004 | +214.0% | -245.30 million current LCU | 279.70 million current LCU |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | -1.15 billion current LCU | -1.66 billion current LCU | -657.87 million current LCU | 10 |
| 1980s | -2.25 billion current LCU | -2.87 billion current LCU | -1.65 billion current LCU | 10 |
| 1990s | -812.38 million current LCU | -2.29 billion current LCU | -214.16 million current LCU | 10 |
| 2000s | -50.81 million current LCU | -2.30 billion current LCU | 1.59 billion current LCU | 10 |
| 2010s | 2.73 billion current LCU | 1.66 billion current LCU | 3.95 billion current LCU | 10 |
| 2020s | -162.50 billion current LCU | -433.06 billion current LCU | 702.00 million current LCU | 5 |
Countries ranked near Cuba
More economy & growth data for Cuba
- General government final consumption expenditure (current US$) 25.1 % change on previous year (2020)
- General government final consumption expenditure (current US$), per 0.3885 current US$ per US$ of GDP (2020)
- General government final consumption expenditure (current US$), per 3,731 current US$ per person (2020)
- General government final consumption expenditure (current LCU) 21.52 % change on previous year (2024)
- General government final consumption expenditure (current LCU), per 0.3885 current LCU per US$ of GDP (2020)
- General government final consumption expenditure (current LCU), per 24,524 current LCU per person (2024)
- General government final consumption expenditure (constant 2015 US$) -7.43 % change on previous year (2024)
- General government final consumption expenditure (constant 2015 US$) 0.2523 constant 2015 US$ per US$ of GDP (2020)
- General government final consumption expenditure (constant 2015 US$) 2,335 constant 2015 US$ per person (2024)
- Households and NPISHs Final consumption expenditure (current US$) -3.88 % change on previous year (2020)
Frequently asked questions
- What is external balance on goods and services in Cuba?
- External balance on goods and services in Cuba was -433.06 billion current LCU in 2024, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest external balance on goods and services recorded in Cuba?
- The highest recorded value was 3.95 billion current LCU in 2014.
- What is the lowest external balance on goods and services recorded in Cuba?
- The lowest recorded value was -433.06 billion current LCU in 2024.
- How does Cuba rank for external balance on goods and services?
- Cuba ranks 155th out of 193 countries with data for 2024.
- Is external balance on goods and services rising or falling in Cuba?
- Over the last ten years it is down 11,071.9%. The long-run trend across the full record is volatile.
- Where does this Cuba data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of External balance on goods and services (current LCU). Statizoid updates them automatically from the source API.
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About this data
The balance of international trade in goods and services is the difference between the exports and imports of goods and services. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.