Terms of trade adjustment in Cuba
Cuba: Terms of trade adjustment was -3.15 billion constant LCU in 2024. ◆ Volatile
Terms of trade adjustment in Cuba, 1970–2024
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in constant LCU.
Analysis
In 2024, terms of trade adjustment in Cuba stood at -3.15 billion constant LCU.
Compared with earlier readings it is down 29.6% on the previous year and down 222.1% over ten years.
Over the whole period, terms of trade adjustment in Cuba peaked at 2.66 billion constant LCU in 1985 and was at its lowest, -4.22 billion constant LCU, in 2008.
That places Cuba 127th out of 178 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.
Terms of trade adjustment in Cuba, year by year
| Year | constant LCU | Change |
|---|---|---|
| 1970 | 925.72 million constant LCU | — |
| 1971 | 1.01 billion constant LCU | +8.6% |
| 1972 | 1.05 billion constant LCU | +4.8% |
| 1973 | 1.09 billion constant LCU | +3.3% |
| 1974 | 1.10 billion constant LCU | +0.8% |
| 1975 | 1.21 billion constant LCU | +10.1% |
| 1976 | 1.27 billion constant LCU | +5.3% |
| 1977 | 1.38 billion constant LCU | +8.3% |
| 1978 | 1.46 billion constant LCU | +6.2% |
| 1979 | 1.47 billion constant LCU | +0.6% |
| 1980 | 1.46 billion constant LCU | -0.8% |
| 1981 | 1.69 billion constant LCU | +15.3% |
| 1982 | 1.81 billion constant LCU | +7.4% |
| 1983 | 1.89 billion constant LCU | +4.6% |
| 1984 | 2.03 billion constant LCU | +7.3% |
| 1985 | 2.66 billion constant LCU | +30.8% |
| 1986 | 1.73 billion constant LCU | -35.0% |
| 1987 | 1.90 billion constant LCU | +10.2% |
| 1988 | 2.02 billion constant LCU | +6.4% |
| 1989 | 2.05 billion constant LCU | +1.1% |
| 1990 | 2.23 billion constant LCU | +8.7% |
| 1991 | 95.23 million constant LCU | -95.7% |
| 1992 | -999.01 million constant LCU | -1149.0% |
| 1993 | -463.98 million constant LCU | -53.6% |
| 1994 | -32.97 million constant LCU | -92.9% |
| 1995 | -70.37 million constant LCU | +113.4% |
| 1996 | 95.64 million constant LCU | -235.9% |
| 1997 | 100,000 constant LCU | -99.9% |
| 1998 | -423.09 million constant LCU | -423193.0% |
| 1999 | -577.33 million constant LCU | +36.5% |
| 2000 | -1.25 billion constant LCU | +115.6% |
| 2001 | -1.27 billion constant LCU | +1.7% |
| 2002 | -1.13 billion constant LCU | -10.9% |
| 2003 | -601.52 million constant LCU | -46.7% |
| 2004 | -467.18 million constant LCU | -22.3% |
| 2005 | -1.24 billion constant LCU | +166.0% |
| 2006 | -866.25 million constant LCU | -30.3% |
| 2007 | -1.08 billion constant LCU | +24.9% |
| 2008 | -4.22 billion constant LCU | +290.1% |
| 2009 | -3.59 billion constant LCU | -15.1% |
| 2010 | -876.00 million constant LCU | -75.6% |
| 2011 | -2.72 billion constant LCU | +210.6% |
| 2012 | -2.00 billion constant LCU | -26.3% |
| 2013 | -2.15 billion constant LCU | +7.1% |
| 2014 | -978.28 million constant LCU | -54.4% |
| 2015 | -753.79 million constant LCU | -22.9% |
| 2016 | 941.35 million constant LCU | -224.9% |
| 2017 | 1.02 billion constant LCU | +7.9% |
| 2018 | 157.80 million constant LCU | -84.5% |
| 2019 | 299.07 million constant LCU | +89.5% |
| 2020 | 1.08 billion constant LCU | +259.6% |
| 2021 | -1.19 billion constant LCU | -210.7% |
| 2022 | -1.70 billion constant LCU | +42.9% |
| 2023 | -2.43 billion constant LCU | +42.9% |
| 2024 | -3.15 billion constant LCU | +29.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 1.20 billion constant LCU | 925.72 million constant LCU | 1.47 billion constant LCU | 10 |
| 1980s | 1.92 billion constant LCU | 1.46 billion constant LCU | 2.66 billion constant LCU | 10 |
| 1990s | -14.97 million constant LCU | -999.01 million constant LCU | 2.23 billion constant LCU | 10 |
| 2000s | -1.57 billion constant LCU | -4.22 billion constant LCU | -467.18 million constant LCU | 10 |
| 2010s | -706.44 million constant LCU | -2.72 billion constant LCU | 1.02 billion constant LCU | 10 |
| 2020s | -1.48 billion constant LCU | -3.15 billion constant LCU | 1.08 billion constant LCU | 5 |
Countries ranked near Cuba
More economy & growth data for Cuba
- GNI, Atlas method (current US$), annual growth rate 3.2 % change on previous year (2019)
- GNI, Atlas method (current US$), per unit of GDP 0.9759 current US$ per US$ of GDP (2019)
- GNI, Atlas method (current US$), per capita 9,010 current US$ per person (2019)
- GNI (current US$), annual growth rate 3.35 % change on previous year (2019)
- GNI (current US$), per unit of GDP 0.985 current US$ per US$ of GDP (2019)
- GNI (current US$), per capita 9,094 current US$ per person (2019)
- GNI (current LCU), annual growth rate 3.35 % change on previous year (2019)
- GNI (current LCU), per unit of GDP 0.985 current LCU per US$ of GDP (2019)
- GNI (current LCU), per capita 9,094 current LCU per person (2019)
- Net primary income (Net income from abroad) (current US$), annual -5.36 % change on previous year (2019)
Frequently asked questions
- What is terms of trade adjustment in Cuba?
- Terms of trade adjustment in Cuba was -3.15 billion constant LCU in 2024, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest terms of trade adjustment recorded in Cuba?
- The highest recorded value was 2.66 billion constant LCU in 1985.
- What is the lowest terms of trade adjustment recorded in Cuba?
- The lowest recorded value was -4.22 billion constant LCU in 2008.
- How does Cuba rank for terms of trade adjustment?
- Cuba ranks 127th out of 178 countries with data for 2024.
- Is terms of trade adjustment rising or falling in Cuba?
- Over the last ten years it is down 222.1%. 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 Terms of trade adjustment (constant LCU). Statizoid updates them automatically from the source API.
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About this data
The terms of trade adjustment is equal to the capacity to import (current price value of exports of goods and services deflated by the import price index) less exports of goods and services in constant 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.