External balance on goods and services (current US$) (US current) in Cuba
Cuba: External balance on goods and services (current US$) (US current) was 702.00 million current US$ in 2020. ◆ Volatile
External balance on goods and services in Cuba, 1970–2020
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in current US$.
Analysis
The most recent figure for external balance on goods and services in Cuba is 702.00 million current US$, measured in 2020.
That represents a change of down 57.7% on the previous year and down 75.7% over ten years.
Over the whole period, external balance on goods and services in Cuba peaked at 3.95 billion current US$ in 2014 and was at its lowest, -3.68 billion current US$, in 1989.
That places Cuba 67th out of 193 countries with data for 2020, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
External balance on goods and services (current US$) (US current) in Cuba, year by year
| Year | current US$ | Change |
|---|---|---|
| 1970 | -657.87 million current US$ | — |
| 1971 | -799.14 million current US$ | +21.5% |
| 1972 | -940.17 million current US$ | +17.6% |
| 1973 | -1.15 billion current US$ | +22.7% |
| 1974 | -1.32 billion current US$ | +14.2% |
| 1975 | -1.51 billion current US$ | +14.2% |
| 1976 | -1.59 billion current US$ | +5.9% |
| 1977 | -1.64 billion current US$ | +2.9% |
| 1978 | -2.06 billion current US$ | +25.4% |
| 1979 | -2.27 billion current US$ | +10.2% |
| 1980 | -2.30 billion current US$ | +1.2% |
| 1981 | -2.34 billion current US$ | +2.0% |
| 1982 | -2.41 billion current US$ | +3.1% |
| 1983 | -2.54 billion current US$ | +5.3% |
| 1984 | -2.84 billion current US$ | +11.7% |
| 1985 | -2.58 billion current US$ | -9.0% |
| 1986 | -2.92 billion current US$ | +13.0% |
| 1987 | -2.78 billion current US$ | -4.8% |
| 1988 | -3.04 billion current US$ | +9.6% |
| 1989 | -3.68 billion current US$ | +20.8% |
| 1990 | -3.05 billion current US$ | -17.1% |
| 1991 | -1.73 billion current US$ | -43.1% |
| 1992 | -289.40 million current US$ | -83.3% |
| 1993 | -565.31 million current US$ | +95.3% |
| 1994 | -368.82 million current US$ | -34.8% |
| 1995 | -762.39 million current US$ | +106.7% |
| 1996 | -500.00 million current US$ | -34.4% |
| 1997 | -737.20 million current US$ | +47.4% |
| 1998 | -1.03 billion current US$ | +39.6% |
| 1999 | -792.50 million current US$ | -23.0% |
| 2000 | -860.70 million current US$ | +8.6% |
| 2001 | -916.30 million current US$ | +6.5% |
| 2002 | -562.70 million current US$ | -38.6% |
| 2003 | -245.30 million current US$ | -56.4% |
| 2004 | 279.70 million current US$ | -214.0% |
| 2005 | 1.14 billion current US$ | +307.8% |
| 2006 | 116.67 million current US$ | -89.8% |
| 2007 | 1.47 billion current US$ | +1158.2% |
| 2008 | -2.13 billion current US$ | -245.1% |
| 2009 | 1.15 billion current US$ | -154.1% |
| 2010 | 2.89 billion current US$ | +150.5% |
| 2011 | 2.24 billion current US$ | -22.4% |
| 2012 | 3.77 billion current US$ | +68.3% |
| 2013 | 2.99 billion current US$ | -20.7% |
| 2014 | 3.95 billion current US$ | +32.0% |
| 2015 | 2.34 billion current US$ | -40.8% |
| 2016 | 2.46 billion current US$ | +5.4% |
| 2017 | 2.79 billion current US$ | +13.2% |
| 2018 | 1.96 billion current US$ | -29.6% |
| 2019 | 1.66 billion current US$ | -15.4% |
| 2020 | 702.00 million current US$ | -57.7% |
Cuba compared with similar countries
- Cuba's 702.00 million current US$ is above the median for upper middle income countries, which is -347.73 million current US$. (53 countries reporting)
- Cuba's 702.00 million current US$ is above the median for Latin America & Caribbean, which is -154.10 million current US$. (29 countries reporting)
Biggest year-on-year movements
Years where External balance on goods and services (current US$) (US current) 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 |
|---|---|---|---|
| 2007 | +1158.2% | 116.67 million current US$ | 1.47 billion current US$ |
| 2005 | +307.8% | 279.70 million current US$ | 1.14 billion current US$ |
| 2008 | -245.1% | 1.47 billion current US$ | -2.13 billion current US$ |
| 2004 | +214.0% | -245.30 million current US$ | 279.70 million current US$ |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | -1.39 billion current US$ | -2.27 billion current US$ | -657.87 million current US$ | 10 |
| 1980s | -2.74 billion current US$ | -3.68 billion current US$ | -2.30 billion current US$ | 10 |
| 1990s | -982.64 million current US$ | -3.05 billion current US$ | -289.40 million current US$ | 10 |
| 2000s | -55.67 million current US$ | -2.13 billion current US$ | 1.47 billion current US$ | 10 |
| 2010s | 2.70 billion current US$ | 1.66 billion current US$ | 3.95 billion current US$ | 10 |
| 2020s | 702.00 million current US$ | 702.00 million current US$ | 702.00 million current US$ | 1 |
Countries ranked near Cuba
More economy & growth data for Cuba
- SDRs holdings, US dollar, per unit of GDP 0 units per US$ of GDP (2016)
- SDRs holdings, US dollar, per capita 0 units per person (2016)
- SDRs holdings, SDR, per unit of GDP 0 units per US$ of GDP (2016)
- SDRs holdings, SDR, per capita 0 units per person (2016)
- IMF holdings of currency, US dollar, annual growth rate -100 % change on previous year (1969)
- IMF holdings of currency, US dollar, per unit of GDP 0 units per US$ of GDP (2016)
- IMF holdings of currency, US dollar, per capita 0 units per person (2016)
- IMF holdings of currency, SDR, annual growth rate -100 % change on previous year (1969)
- IMF holdings of currency, SDR, per unit of GDP 0 units per US$ of GDP (2016)
- IMF holdings of currency, SDR, per capita 0 units per person (2016)
Frequently asked questions
- What is external balance on goods and services in Cuba?
- External balance on goods and services in Cuba was 702.00 million current US$ in 2020, 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 US$ in 2014.
- What is the lowest external balance on goods and services recorded in Cuba?
- The lowest recorded value was -3.68 billion current US$ in 1989.
- How does Cuba rank for external balance on goods and services?
- Cuba ranks 67th out of 193 countries with data for 2020.
- Is external balance on goods and services rising or falling in Cuba?
- Over the last ten years it is down 75.7%. 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 US$). 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 indicator is expressed in United States dollars.