Gross Domestic Product — Annual growth US$ in Cuba
Cuba: Gross Domestic Product — Annual growth US$ was 8.51 % in 2024. ◆ Volatile
Gross Domestic Product — Annual growth US$ in Cuba, 1971–2024
Source: Food and Agriculture Organization of the United Nations. Measured in %.
Analysis
Cuba recorded 8.51 % for gross domestic product — annual growth us$ in 2024.
Compared with earlier readings it is down 77.2% on the previous year and up 87.2% over ten years.
Over the whole period, gross domestic product — annual growth us$ in Cuba peaked at 37.3 % in 2023 and was at its lowest, -17.78 %, in 1996.
That places Cuba 44th out of 203 countries with data for 2024, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Gross Domestic Product — Annual growth US$ in Cuba, year by year
| Year | % | Change |
|---|---|---|
| 1971 | 21.46 % | — |
| 1972 | 17.65 % | -17.7% |
| 1973 | 22.77 % | +29.0% |
| 1974 | 14.2 % | -37.6% |
| 1975 | 14.22 % | +0.1% |
| 1976 | 5.85 % | -58.8% |
| 1977 | 3.02 % | -48.4% |
| 1978 | 25.61 % | +747.8% |
| 1979 | 9.75 % | -61.9% |
| 1980 | 1.68 % | -82.8% |
| 1981 | 1.19 % | -28.9% |
| 1982 | 3.99 % | +234.4% |
| 1983 | 5.98 % | +49.9% |
| 1984 | 8.26 % | +38.2% |
| 1985 | -4.65 % | -156.3% |
| 1986 | 5.69 % | -222.4% |
| 1987 | 4.08 % | -28.4% |
| 1988 | 8.91 % | +118.5% |
| 1989 | -1.58 % | -117.7% |
| 1990 | 6 % | -479.5% |
| 1991 | -15.11 % | -352.0% |
| 1992 | -9.18 % | -39.2% |
| 1993 | 1.27 % | -113.9% |
| 1994 | 27.19 % | +2033.9% |
| 1995 | 6.96 % | -74.4% |
| 1996 | -17.78 % | -355.5% |
| 1997 | 1.39 % | -107.8% |
| 1998 | 1.47 % | +5.6% |
| 1999 | 10.21 % | +595.9% |
| 2000 | 7.76 % | -24.0% |
| 2001 | 3.65 % | -52.9% |
| 2002 | 6.02 % | +64.9% |
| 2003 | 6.88 % | +14.2% |
| 2004 | 6.41 % | -6.8% |
| 2005 | 11.62 % | +81.2% |
| 2006 | 23.68 % | +103.8% |
| 2007 | 11.11 % | -53.1% |
| 2008 | 3.76 % | -66.2% |
| 2009 | 2.09 % | -44.3% |
| 2010 | 3.62 % | +72.9% |
| 2011 | 8.06 % | +122.5% |
| 2012 | 5.22 % | -35.2% |
| 2013 | 5.48 % | +4.9% |
| 2014 | 4.55 % | -17.0% |
| 2015 | 8.12 % | +78.6% |
| 2016 | 4.78 % | -41.2% |
| 2017 | 6 % | +25.6% |
| 2018 | 3.3 % | -44.9% |
| 2019 | 3.38 % | +2.2% |
| 2020 | 3.79 % | +12.4% |
| 2021 | 18.02 % | +374.9% |
| 2022 | 16.12 % | -10.5% |
| 2023 | 37.3 % | +131.4% |
| 2024 | 8.51 % | -77.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 14.95 % | 3.02 % | 25.61 % | 9 |
| 1980s | 3.35 % | -4.65 % | 8.91 % | 10 |
| 1990s | 1.24 % | -17.78 % | 27.19 % | 10 |
| 2000s | 8.3 % | 2.09 % | 23.68 % | 10 |
| 2010s | 5.25 % | 3.3 % | 8.12 % | 10 |
| 2020s | 16.75 % | 3.79 % | 37.3 % | 5 |
Countries ranked near Cuba
More economy & growth data for Cuba
- Services, value added (constant LCU), per capita 3,714 constant LCU per person (2024)
- GDP deflator (base year varies by country), annual growth rate 32.22 % change on previous year (2024)
- Gross value added at basic prices (GVA) (current US$), annual growth 4.6 % change on previous year (2020)
- Gross value added at basic prices (GVA) (current US$), per unit of GDP 0.9929 current US$ per US$ of GDP (2020)
- Gross value added at basic prices (GVA) (current US$), per capita 9,537 current US$ per person (2020)
- Gross value added at basic prices (GVA) (current LCU), annual growth 29.99 % change on previous year (2024)
- Gross value added at basic prices (GVA) (current LCU), per unit of GDP 0.9929 current LCU per US$ of GDP (2020)
- Gross value added at basic prices (GVA) (current LCU), per capita 97,292 current LCU per person (2024)
- Gross value added at basic prices (GVA) (constant 2015 US$), annual -1.01 % change on previous year (2024)
- Gross value added at basic prices (GVA) (constant 2015 US$), per unit 0.7499 constant 2015 US$ per US$ of GDP (2020)
Frequently asked questions
- What is gross domestic product — annual growth us$ in Cuba?
- Gross domestic product — annual growth us$ in Cuba was 8.51 % in 2024, according to Food and Agriculture Organization of the United Nations.
- What is the highest gross domestic product — annual growth us$ recorded in Cuba?
- The highest recorded value was 37.3 % in 2023.
- What is the lowest gross domestic product — annual growth us$ recorded in Cuba?
- The lowest recorded value was -17.78 % in 1996.
- How does Cuba rank for gross domestic product — annual growth us$?
- Cuba ranks 44th out of 203 countries with data for 2024.
- Is gross domestic product — annual growth us$ rising or falling in Cuba?
- Over the last ten years it is up 87.2%. The long-run trend across the full record is volatile.
- Where does this Cuba data come from?
- The figures come from Food and Agriculture Organization of the United Nations, published as part of Gross Domestic Product — Annual growth US$. Statizoid updates them automatically from the source API.
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About this data
The FAOSTAT Macro Indicators database provides a selection of country-level macro indicators relating to total economy (Gross Domestic Product, Gross Fixed Capital Formation); agriculture activity; agriculture, forestry and fishing activity; total manufacturing activity; manufacturing of food products and beverages activity; manufacturing activity of tobacco products; and manufacturing activity of food, beverage and tobacco products.It releases time series for a selection of National Accounts variables, including gross domestic product, gross fixed capital formation, industry-level value added and gross output. The database also proposes additional indicators such as gross domestic product per capita, year-on-year growth rates and measures of industry contribution to gross domestic product. All data relating to Gross Domestic Product, Gross Fixed Capital Formation, agriculture, forestry and fishing activity, and to total manufacturing activity originates from the United Nations Statistics Division (UNSD) National Accounts Estimates of Main Aggregates database, which consists of a complete and consistent set of time series of the main National Accounts aggregates of all UN Members States and other territories in the world for which National Accounts information is available. The UNSD database's content is based on the countries' official National Accounts data reported to UNSD through the annual National Accounts Questionnaire, supplemented with data estimates for any years and countries with incomplete or inconsistent information (See http://unstats.un.org/unsd/snaama/Introduction.asp). Data series relating to the sub-industry Agriculture activity are obtained from the UNSD national accounts Official Country Data databases while series on the Manufacturing activity of food and beverages products, manufacturing activity of tobacco products and manufacturing activity of food, beverages and tobacco products originates from the United Nations Industrial Development Organization (UNIDO) INDSTAT2 database. In order to ensure that sub-industry series are consistent in levels with National Accounts based series, which is needed to support comparability across industries (agriculture vs. agro-industry and sub-industries), UNIDO originating series are rescaled on UNSD National Accounts Estimates of Main Aggregates data series (See Section 17.5 for a more detailed description of the data processing steps).