Download “Cuba 2012 “

“Cuba 2012 “
Embassy of Cuba
Czech Republic
GEOGRAPHICAL LOCATION
GEOGRAPHIC LOCATION
GENERAL INFORMATION
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Socialist Republic
Capital city: Havana
Territory: 110 860 square kms.
Territorial division: 15 provinces and one
special municipality.
Population: 11.2 millions inhabitants.
Annual GNP: 20 billion USD. (Per capita: 1 786
USD).
Main trade partners: Venezuela, China, Spain.
Life expectancy: 79 years.
THE CUBAN ECONOMY DURING COLONIAL
PERIOD
• Based in agricultural products, mainly sugar
cane and tobacco.
THE CUBAN ECONOMY
COLONIAL PERIOD
• Industrial development related with sugar
cane production
• Main export (sugar cane)
• Only two foreign trade markets (Spain, as a
colonial power, and the United States as
economical power)
• US´s capitals owned more than 50 percent of
the best lands.
THE CUBAN ECONOMY
1889-1959
• Full economy and finance dominated by US´s
companies.
• High level of illiteracy.
• Unemployment
• Economic structure marked by technological
backwardness and insufficient industrial
development.
• Low dynamic in industrial productions and
investments.
• Deep concentration of incomes
THE CUBAN ECONOMY
1959-1989
• GDP increased at an average annual rate of
approximately 4 percent
• Economic policy gave the state a central role
in the production of goods and services
• Planification instead market
• Deep transformations of productive bases
(water reservoirs, railroad, highways, airports,
electrification, among others).
THE CUBAN ECONOMY
1959-1989
• High level of investment in human resources
(Education, health care, culture and sports)
• Main foreing trade: European Socialist
contries
THE CUBAN ECONOMY
It has received big negative impacts during the
last 53 years:
• 50 years of blockade. The damages cost to the
Cuban economy would exceed one trillion 66
thousand million dollars (1,066,000,000,000).
• The collapse of the socialism in Europe.
• The current international financial and
economic crisis.
Economy brief
• In 2011 GDP grew by 2.7 percent. Forecast for 2012:
more than 3.4 percent.
• Services (tourism and others services associated with
health) is the most dynamic sector of the economy. In
2011 Cuba received 1.7 million tourist.
• Biotechnological products are the second exportable
row.
• Agriculture has become a strategic branch of the
economy.
• Education, public health and, sport and culture
together, receive 27.9 per cent of the annual GDP.
STRUCTURE OF THE NGP IN 2010
(by economic activity)
HUMAN RESOURCES
• The whole education system, including
university and post graduate studies, is free.
• In 53 years has formed more than 1 million
university graduates (64 per cent are woman).
• More than 55 000 students from 135 countries
have been graduated in 5 decades.
Tendencies of the Cuban Economy
EXTERNAL FACTORS.
• Structural and sistemic crisis of the Global economy;
• Economic, financial, energetic, food and enviromental crisis;
• Impacts on developing countries;
• Instability of prices of main export / import products.
• The economic, commercial and financial blockade imposed by
the United States of America
Tendencies of the Cuban Economy
INTERNAL FACTORS
• Low efficiency,
• Decapitalization of the productive base and
infrastructure
• Aging and stagnation of population growth.
• Several damages to the economy caused by
climatologic events.
1998 - 2008: 16 hurricans. 20 thousands 564 milions of
USD
2003 - 2005: severe drought . 1 350 milions of USD.
UPDATING THE ECONOMIC AND SOCIAL SYSTEM
• Stregthening of institutionality and
reorganization of the State and Government.
• The economy should be adjusted to available
resources.
• Prioritize growth and export diversification.
• Structural and functioning transformation in
agriculture.
• Strategic industrial investments
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