That projected dollar amount results from a -53.3% reduction from $9.8 billion in Cuban spending on imports five years earlier in 2019.
Year over year, the overall cost of Cuba’s imported products fell by -53% compared to $9.9 billion starting from 2022.
Cuba’s Best International Trade Suppliers
The latest available country-specific data from 2022 shows that 49.2% of products imported by Cuba was furnished by exporters in: mainland China (11.5% of the Cuban total), Spain (10.1%), United States of America (4.6%), Argentina (3.5%), Mexico (3.5%), Brazil (3.4%), Germany (2.5%), Italy (2.3%), Vietnam (2.2%), Netherlands (2%), Canada (1.9%) and Venezuela (1.6%).
From a continents-based perspective, the leading share of Cuba’s imports originated from suppliers in Europe (35%), Asia (29.6%) and Latin America (18.4%) excluding Mexico. Close behind were providers in North America (15.6%) trailed by Oceania (0.9%) led by New Zealand, then Africa (0.4%).
Given Cuba’s population of 11.2 million people, its estimated $4.62 billion worth of imports translates to roughly $410 in yearly product demand from every person in the Cuban collection of islands. That dollar metric exceeds the average $340 per capita for one year earlier during 2022.
Cuba’s Top 10 Imports
The following product groups represent the highest dollar value in Cuba’s import purchases during 2023. Also shown is the percentage share each product category represents in terms of overall imports into Cuba.
- Machinery including computers: US$503.1 million (10.9% of total imports)
- Beverages, spirits, vinegar: $453.3 million (9.8%)
- Meat: $401.8 million (8.7%)
- Electrical machinery, equipment: $291.2 million (6.3%)
- Cereals: $260.3 million (5.6%)
- Vehicles: $221.5 million (4.8%)
- Plastics, plastic articles: $171.1 million (3.7%)
- Animal/vegetable fats, oils, waxes: $148.2 million (3.2%)
- Dairy, eggs, honey: $118.4 million (2.6%)
- Meat/seafood preparations: $107.8 million (2.3%)
Cuba’s top 10 imports accounted for 57.9% of the overall cost of its product purchases from other countries.
Increases were recorded for the top product categories beverages, spirits and vinegar (up 95.1% from 2022) then meat or seafood preparation (up 5.7%).
The severest declining categories were for Cuba’s imports of cereals (down -56.8% from 2022), dairy, eggs and honey (down -46.3%) then plastics both as materials and items made from plastic (down -45.6%).
Please note that information presented under the sections below is at the more granular 4-digit level.
Cuba’s Machinery Imports
In 2023, Cuban importers spent the most on the following 10 subcategories of machinery including computers.
- Liquid pumps and elevators: US$42.6 million (down -2.4% from 2022)
- Air or vacuum pumps: $33.4 million (down -17.2%)
- Refrigerators, freezers: $32.9 million (down -55.6%)
- Machinery parts: $30.3 million (down -20.9%)
- Taps, valves, similar appliances: $29.5 million (down -23.2%)
- Piston engine parts: $29.2 million (up 42.2%)
- Computers, optical readers: $28 million (down -37.5%)
- Centrifuges, filters and purifiers: $26.9 million (down -23.4%)
- Air conditioners: $20 million (down -54.4%)
- Engines (diesel): $18.3 million (down -36.6%)
Among these import subcategories, Cuban purchases of piston engine parts grew from 2022 to 2023 posting a 42.2% advance.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery including computers among Cuban businesses and consumers.
Cuba’s Beverages Imports
In 2023, Cuban importers spent the most on the following subcategories of beverages including alcohol as well as vinegar.
- Malt beer: US$339.8 million (up 148% from 2022)
- Non-alcoholic drinks (not water/juice/milk): $64.9 million (up 19.9%)
- Alcohol (including spirits, liqueurs): $32.5 million (up 44.1%)
- Wine: $11.5 million (down -23%)
- Other fermented beverages: $1.3 million (up 22.5%)
- Vinegar: $605,000 (down -37%)
- Mineral, aerated waters: $561,000 (down -63.8%)
- Vermouth, other flavored wines: $283,000 (up 573.8%)
- Ethyl alcohol: $245,000 (up 63.3%)
Among these import subcategories, Cuban purchases of vermouth and other flavored wines (up 573.8%), malt beer (up 148%) then ethyl alcohol (up 63.3%) grew at the fastest pace from 2022 to 2023.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported beverages or vinegar among Cuban businesses and consumers.
Cuba’s Meat Imports
In 2023, Cuban importers spent the most on the following subcategories of meat-related products.
- Poultry meat: US$330.2 million (down -31.4% from 2022)
- Swine meat: $42.3 million (down -19.5%)
- Frozen beef: $16.3 million (up 33.8%)
- Salted/dried/smoked meat: $7.1 million (up 140.6%)
- Red meat offal: $1.3 million (up 56.8%)
- Sheep or goat meat: $1.1 million (down -3.9%)
- Fresh or chilled beef: $441,000 (up 146.4%)
- Pig, poultry fat: $399,000 (up 478.3%)
- Miscellaneous meat: $25,000 (up 2,400%)
Among these import subcategories, Cuban purchases of miscellaneous meat (up 2,400%), pig or poultry fat: (up 478.3%) then fresh or chilled beef (up 146.4%) grew at the fastest pace from 2022 to 2023.
These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported meat-related products among Cuban businesses and consumers.
Cuba’s Electronics Imports
In 2023, Cuban importers spent the most on the following 10 subcategories of electronics-related goods.
- Phone devices including smartphones: US$49.5 million (up 6.5% from 2022)
- Insulated wire/cable: $32.6 million (down -25.6%)
- Electric storage batteries: $26.9 million (down -24.7%)
- Electric water heaters, hair dryers: $21.7 million (down -46.4%)
- Lower-voltage switches, fuses: $20.9 million (down -14.5%)
- Electrical converters/power units: $16 million (down -37.1%)
- TV receivers/monitors/projectors: $14.4 million (down -68.5%)
- Electric motors, generators: $13.2 million (down -50.8%)
- Electric generating sets, converters: $11.2 million (down -68.5%)
- Electrical/optical circuit boards, panels: $11 million (down -55.5%)
Among these import subcategories, Cuban purchases of phone devices including smartphones was the sole gainer from 2022 to 2023 via its 6.5% advance.
These amounts and the percentage gain clearly show where the strongest demand lies for different types of imported electronics-related goods among Cuban businesses and consumers.
See also Cuba’s Top 10 Exports, China’s Top 10 Exports and Spain’s Top 10 Exports
Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on September 5, 2024
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on September 5, 2024
International Trade Centre, Trade Map. Accessed on September 5, 2024
Wikipedia, Cuba. Accessed on September 5, 2024