Gross value added at basic prices (GVA) in Cuba
Cuba: Gross value added at basic prices (GVA) was 50.41 billion constant LCU in 2024. ▲ Rising
Latest (2024)
50.41 billion constant LCU
Change on year
down 1.0%
World rank
143rd
of 198 countries
All-time high
56.56 billion constant LCU
in 2018
All-time low
14.29 billion constant LCU
in 1970
Years of data
55
1970–2024
Gross value added at basic prices (GVA) in Cuba, 1970–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in constant LCU.
Analysis
Cuba recorded 50.41 billion constant LCU for gross value added at basic prices (gva) in 2024.
Compared with earlier readings it is down 1.0% on the previous year and down 2.3% over ten years.
Over the whole period, gross value added at basic prices (gva) in Cuba peaked at 56.56 billion constant LCU in 2018 and was at its lowest, 14.29 billion constant LCU, in 1970.
Cuba ranks 143rd of 198 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 55 years of available data.
Gross value added at basic prices (GVA) in Cuba, year by year
| Year | constant LCU | Change |
|---|---|---|
| 1970 | 14.29 billion constant LCU | — |
| 1971 | 15.52 billion constant LCU | +8.6% |
| 1972 | 16.27 billion constant LCU | +4.8% |
| 1973 | 16.82 billion constant LCU | +3.4% |
| 1974 | 16.99 billion constant LCU | +1.0% |
| 1975 | 18.60 billion constant LCU | +9.5% |
| 1976 | 19.61 billion constant LCU | +5.4% |
| 1977 | 21.31 billion constant LCU | +8.7% |
| 1978 | 22.73 billion constant LCU | +6.6% |
| 1979 | 22.99 billion constant LCU | +1.2% |
| 1980 | 21.84 billion constant LCU | -5.0% |
| 1981 | 26.14 billion constant LCU | +19.7% |
| 1982 | 28.49 billion constant LCU | +9.0% |
| 1983 | 30.09 billion constant LCU | +5.6% |
| 1984 | 32.58 billion constant LCU | +8.3% |
| 1985 | 32.60 billion constant LCU | +0.1% |
| 1986 | 32.93 billion constant LCU | +1.0% |
| 1987 | 32.32 billion constant LCU | -1.8% |
| 1988 | 33.71 billion constant LCU | +4.3% |
| 1989 | 34.31 billion constant LCU | +1.8% |
| 1990 | 33.71 billion constant LCU | -1.8% |
| 1991 | 29.81 billion constant LCU | -11.6% |
| 1992 | 25.98 billion constant LCU | -12.8% |
| 1993 | 22.25 billion constant LCU | -14.4% |
| 1994 | 22.07 billion constant LCU | -0.8% |
| 1995 | 22.45 billion constant LCU | +1.7% |
| 1996 | 24.34 billion constant LCU | +8.4% |
| 1997 | 25.03 billion constant LCU | +2.8% |
| 1998 | 25.07 billion constant LCU | +0.2% |
| 1999 | 26.64 billion constant LCU | +6.3% |
| 2000 | 28.23 billion constant LCU | +5.9% |
| 2001 | 29.15 billion constant LCU | +3.3% |
| 2002 | 29.57 billion constant LCU | +1.4% |
| 2003 | 30.66 billion constant LCU | +3.7% |
| 2004 | 32.38 billion constant LCU | +5.6% |
| 2005 | 35.98 billion constant LCU | +11.1% |
| 2006 | 40.26 billion constant LCU | +11.9% |
| 2007 | 43.23 billion constant LCU | +7.4% |
| 2008 | 44.99 billion constant LCU | +4.1% |
| 2009 | 45.91 billion constant LCU | +2.0% |
| 2010 | 47.00 billion constant LCU | +2.4% |
| 2011 | 48.18 billion constant LCU | +2.5% |
| 2012 | 49.67 billion constant LCU | +3.1% |
| 2013 | 51.00 billion constant LCU | +2.7% |
| 2014 | 51.61 billion constant LCU | +1.2% |
| 2015 | 53.85 billion constant LCU | +4.3% |
| 2016 | 54.24 billion constant LCU | +0.7% |
| 2017 | 55.32 billion constant LCU | +2.0% |
| 2018 | 56.56 billion constant LCU | +2.2% |
| 2019 | 56.49 billion constant LCU | -0.1% |
| 2020 | 50.28 billion constant LCU | -11.0% |
| 2021 | 50.94 billion constant LCU | +1.3% |
| 2022 | 51.89 billion constant LCU | +1.9% |
| 2023 | 50.92 billion constant LCU | -1.9% |
| 2024 | 50.41 billion constant LCU | -1.0% |
Cuba compared with similar countries
- Cuba's 50.41 billion constant LCU is below the median for upper middle income countries, which is 504.09 billion constant LCU, 10% of the median. (57 countries reporting)
- Cuba's 50.41 billion constant LCU is below the median for Latin America & Caribbean, which is 111.15 billion constant LCU, 45% of the median. (37 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 18.51 billion constant LCU | 14.29 billion constant LCU | 22.99 billion constant LCU | 10 |
| 1980s | 30.50 billion constant LCU | 21.84 billion constant LCU | 34.31 billion constant LCU | 10 |
| 1990s | 25.74 billion constant LCU | 22.07 billion constant LCU | 33.71 billion constant LCU | 10 |
| 2000s | 36.04 billion constant LCU | 28.23 billion constant LCU | 45.91 billion constant LCU | 10 |
| 2010s | 52.39 billion constant LCU | 47.00 billion constant LCU | 56.56 billion constant LCU | 10 |
| 2020s | 50.89 billion constant LCU | 50.28 billion constant LCU | 51.89 billion constant 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 gross value added at basic prices (gva) in Cuba?
- Gross value added at basic prices (gva) in Cuba was 50.41 billion constant LCU in 2024, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest gross value added at basic prices (gva) recorded in Cuba?
- The highest recorded value was 56.56 billion constant LCU in 2018.
- What is the lowest gross value added at basic prices (gva) recorded in Cuba?
- The lowest recorded value was 14.29 billion constant LCU in 1970.
- How does Cuba rank for gross value added at basic prices (gva)?
- Cuba ranks 143rd out of 198 countries with data for 2024.
- Is gross value added at basic prices (gva) rising or falling in Cuba?
- Over the last ten years it is down 2.3%. The long-run trend across the full record is rising.
- Where does this Cuba data come from?
- The figures come from Country official statistics, National Statistical Offices (NSOs), published as part of Gross value added at basic prices (GVA) (constant LCU). Statizoid updates them automatically from the source API.
Download this data
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About this data
Gross value added at basic prices reflects the price of products receivable by the producer exclusive of taxes payable on products and inclusive of subsidies receivable on products, less intermediate consumption valued at purchasers' prices. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment varies by country. This series is expressed in local currency units.