Gross Domestic Product: Value Standard … Gross annual growth rate in Cuba
Cuba: Gross Domestic Product: Value Standard … Gross annual growth rate was 8.51 % change on previous year in 2024. ◆ Volatile
Gross Domestic Product — Value Standard Local Currency, annual growth in Cuba, 1971–2024
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
In 2024, gross domestic product — value standard local currency, annual growth in Cuba stood at 8.51 % change on previous year.
The figure is down 77.2% on the previous year and up 87.2% over ten years.
Over the whole period, gross domestic product — value standard local currency, annual growth in Cuba peaked at 37.3 % change on previous year in 2023 and was at its lowest, -17.29 % change on previous year, in 1991.
That places Cuba 81st out of 218 countries with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Gross Domestic Product: Value Standard … Gross annual growth rate in Cuba, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1971 | 21.46 % change on previous year | — |
| 1972 | 12.12 % change on previous year | -43.5% |
| 1973 | 6.8 % change on previous year | -43.9% |
| 1974 | 12.96 % change on previous year | +90.7% |
| 1975 | 14.22 % change on previous year | +9.7% |
| 1976 | 5.98 % change on previous year | -57.9% |
| 1977 | 4.15 % change on previous year | -30.6% |
| 1978 | 16.53 % change on previous year | +298.3% |
| 1979 | 4.05 % change on previous year | -75.5% |
| 1980 | 0.284 % change on previous year | -93.0% |
| 1981 | 16.65 % change on previous year | +5763.6% |
| 1982 | 6.49 % change on previous year | -61.0% |
| 1983 | 7.09 % change on previous year | +9.3% |
| 1984 | 10.72 % change on previous year | +51.1% |
| 1985 | -0.5952 % change on previous year | -105.6% |
| 1986 | -3.82 % change on previous year | +542.2% |
| 1987 | -1.81 % change on previous year | -52.7% |
| 1988 | 4.98 % change on previous year | -375.9% |
| 1989 | 1.31 % change on previous year | -73.7% |
| 1990 | 2.16 % change on previous year | +64.8% |
| 1991 | -17.29 % change on previous year | -901.5% |
| 1992 | -8.27 % change on previous year | -52.2% |
| 1993 | 1.27 % change on previous year | -115.4% |
| 1994 | 27.19 % change on previous year | +2033.1% |
| 1995 | 13.22 % change on previous year | -51.4% |
| 1996 | 4.96 % change on previous year | -62.5% |
| 1997 | 1.39 % change on previous year | -72.0% |
| 1998 | 1.47 % change on previous year | +5.6% |
| 1999 | 10.21 % change on previous year | +595.9% |
| 2000 | 7.76 % change on previous year | -24.0% |
| 2001 | 3.65 % change on previous year | -52.9% |
| 2002 | 6.02 % change on previous year | +64.9% |
| 2003 | 6.88 % change on previous year | +14.2% |
| 2004 | 6.41 % change on previous year | -6.8% |
| 2005 | 11.62 % change on previous year | +81.2% |
| 2006 | 23.68 % change on previous year | +103.8% |
| 2007 | 11.11 % change on previous year | -53.1% |
| 2008 | 3.76 % change on previous year | -66.2% |
| 2009 | 2.09 % change on previous year | -44.3% |
| 2010 | 3.62 % change on previous year | +72.9% |
| 2011 | 7.25 % change on previous year | +100.1% |
| 2012 | 6.02 % change on previous year | -17.0% |
| 2013 | 5.48 % change on previous year | -8.9% |
| 2014 | 4.55 % change on previous year | -17.0% |
| 2015 | 8.03 % change on previous year | +76.6% |
| 2016 | 4.86 % change on previous year | -39.4% |
| 2017 | 6 % change on previous year | +23.4% |
| 2018 | 3.3 % change on previous year | -44.9% |
| 2019 | 3.38 % change on previous year | +2.2% |
| 2020 | 3.79 % change on previous year | +12.4% |
| 2021 | 18.02 % change on previous year | +374.9% |
| 2022 | 16.12 % change on previous year | -10.5% |
| 2023 | 37.3 % change on previous year | +131.4% |
| 2024 | 8.51 % change on previous year | -77.2% |
Cuba compared with similar countries
- Cuba's 8.51 % change on previous year is above the median for upper middle income countries, which is 6.93 % change on previous year, 1.2× the median. (54 countries reporting)
- Cuba's 8.51 % change on previous year is above the median for Latin America & Caribbean, which is 6.78 % change on previous year, 1.3× the median. (38 countries reporting)
Biggest year-on-year movements
Years where Gross Domestic Product: Value Standard … Gross annual growth rate 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 |
|---|---|---|---|
| 1981 | +5763.6% | 0.284 % change on previous year | 16.65 % change on previous year |
| 1994 | +2033.1% | 1.27 % change on previous year | 27.19 % change on previous year |
| 1991 | -901.5% | 2.16 % change on previous year | -17.29 % change on previous year |
| 1999 | +595.9% | 1.47 % change on previous year | 10.21 % change on previous year |
| 1986 | -542.2% | -0.5952 % change on previous year | -3.82 % change on previous year |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 10.92 % change on previous year | 4.05 % change on previous year | 21.46 % change on previous year | 9 |
| 1980s | 4.13 % change on previous year | -3.82 % change on previous year | 16.65 % change on previous year | 10 |
| 1990s | 3.63 % change on previous year | -17.29 % change on previous year | 27.19 % change on previous year | 10 |
| 2000s | 8.3 % change on previous year | 2.09 % change on previous year | 23.68 % change on previous year | 10 |
| 2010s | 5.25 % change on previous year | 3.3 % change on previous year | 8.03 % change on previous year | 10 |
| 2020s | 16.75 % change on previous year | 3.79 % change on previous year | 37.3 % change on previous year | 5 |
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 gross domestic product — value standard local currency, annual growth in Cuba?
- Gross domestic product — value standard local currency, annual growth in Cuba was 8.51 % change on previous year in 2024, according to Statizoid (derived).
- What is the highest gross domestic product — value standard local currency, annual growth recorded in Cuba?
- The highest recorded value was 37.3 % change on previous year in 2023.
- What is the lowest gross domestic product — value standard local currency, annual growth recorded in Cuba?
- The lowest recorded value was -17.29 % change on previous year in 1991.
- How does Cuba rank for gross domestic product — value standard local currency, annual growth?
- Cuba ranks 81st out of 218 countries with data for 2024.
- Is gross domestic product — value standard local currency, annual growth 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 Statizoid (derived), published as part of Gross Domestic Product — Value Standard Local Currency, annual growth rate. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 54 observations, free to reuse under Derived by Statizoid from the sources named on the page.
How this figure is calculated
The year-on-year percentage change in Gross Domestic Product — Value Standard Local Currency. Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- Gross Domestic Product — Value Standard Local Currency Food and Agriculture Organization of the United Nations
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
The year-on-year percentage change in Gross Domestic Product — Value Standard Local Currency. Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.