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
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 197 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.
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
- External balance on goods and services as a percent of GDP -39.9% (2024)
- GDP per capita 7,381 constant 2015 US$ (2024)
- Share of manufacturing in gross domestic product (GDP) 10.7% (2024)
- Gross domestic product (GDP) 81.05 billion constant 2015 US$ (2024)
- GDP per capita in international and market dollars 7,381 constant 2015 US$ (2024)
- DEC alternative conversion factor 1 LCU per US$ (2020)
- Net secondary income (Net current transfers from abroad) 1.89 billion current LCU (2019)
- Net secondary income (Net current transfers from abroad) 1.89 billion current US$ (2019)
- Taxes less subsidies on products 16.49 billion current LCU (2024)
- Taxes less subsidies on products 762.00 million current US$ (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 197 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.
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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.