Located at the confluence of the northern Caribbean Sea, the Gulf of Mexico and the Atlantic Ocean, the Republic of Cuba shipped US$1.3 billion worth of exported products around the world in 2024.

That estimated dollar amount results from a -23.9% decline from $1.7 billion five years earlier in 2020.

Year over year, the total value of Cuban exports dropped -21.1% compared to $1.64 billion for 2023.

Cuba’s 5 most valuable exports are cigars and cigarettes, zinc ores and concentrates, nickel matte and oxide sinters, alcoholic beverages and wood charcoal. That leading quintet represents 47% of the total value for Cuban exports during 2024, a relatively strong concentration of products.

Best Cuban Exports Customers

The latest available country-specific data from 2022 shows that 40.4% of products exported from Cuba was bought by importers in: Spain (19% of the Cuban total), mainland China (9.6%), Germany (2.2%), France (1.6%), Venezuela (1.5%), Canada (1.31%), Hong Kong (1.29%), Cyprus (1%), Belgium (0.78%), Italy (0.76%), Mexico (0.69%) and Greece (0.63%).

From a continental perspective, 60.4% of Cuba’s exports by value was delivered to European countries while 26.7% was sold to importers in Asia. Cuba shipped another 8.3% worth of goods to buyers in Latin America excluding Mexico but including the Caribbean.

Smaller percentages went to customers located in North America (4.1%), Oceania’s (0.3%) Australia and New Zealand only, then Africa (0.2%).

Given Cuba’s population of 11 million people, its total US$1.3 billion worth of exported products in 2024 translates to roughly $120 for every resident in the Caribbean island country. That dollar metric lags the average $150 per capita one year earlier during 2023.

Cuba’s Top 10 Exports

The following export product groups represent the highest dollar value in Cuban global shipments during 2024, at the 2-digit Harmonized Tariff System (HTS) code level. Also shown is the percentage share each export category represents in terms of overall exports from Cuba.

1. Tobacco, manufactured substitutes: US$407.5 million (31.4% of total exports)
2. Ores, slag, ash: $219.1 million (16.9%)
3. Nickel: $114 million (8.8%)
4. Beverages, spirits, vinegar: $101 million (7.8%)
5. Fish: $74.4 million (5.7%)
6. Wood: $66.1 million (5.1%)
7. Copper: $32.6 million (2.5%)
8. Aluminum: $18.8 million (1.5%)
9. Dairy, eggs, honey: $18.3 million (1.4%)
10. Pharmaceuticals: $17.5 million (1.3%)

Cuba’s top 10 exported product categories account for 82.5% of the value for the Caribbean country’s overall shipments.

Aluminum was the fastest grower among the top 10 export categories, up by 108.5% from 2023 to 2024.

In second place for improving export sales was Cuban exports of copper via a 65.7% advance.

Cuba’s shipments of fish posted the third-greatest gain in value, up by 36.1%.

The leading decliners among Cuba’s top 10 export categories were pharmaceuticals (down -72.1% from 2023) and nickel (down -29.6%).

Drilling down to the more detailed 4-digit HTS codes, Cuba’s 10 most valuable exports are cigars and cigarettes (33% of the Cuban total), zinc ores and concentrates (12%), nickel matte and oxide sinters (9.6%), alcoholic beverages (8.5%), wood charcoal (5.5%), precious metal ores and concentrates (5.3%), crustaceans including lobsters (4.9%), live fish (2.7%), aluminum waster and scrap (1.5%), then natural honey (also 1.5%).

Products Generating Cuba’s Greatest Trade Surpluses

The following types of Cuban product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.

In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.

1. Tobacco, manufactured substitutes: US$292.8 million (Down by -1.3% since 2023)
2. Ores, slag, ash: $163.1 million (Down by -9.1%)
3. Nickel: $81.4 million (Down by -46.3%)
4. Fish: $42.5 million (Up by 1%)
5. Wood: $30.9 million (Up by 16.6%)
6. Copper: $15.7 million (Up by 102.9%)
7. Collector items, art, antiques: $8.3 million (Up by 18.7%)
8. Live animals: $25,000 (Down by -97%)
9. Raw hides, skins not furskins, leather: $1,000 (Down by -99.6%)

Cuba has highly positive net exports in the international trade of tobacco and related products. In turn, these cashflows indicate Cuba’s strong competitive advantages under the tobacco and manufactured substitutes product category.

Products Causing Cuba’s Worst Trade Deficits

Overall, Cuba incurred an estimated -US$2.96 billion trade deficit for 2024. That negative balance represents a -2.4% decrease from -$3 billion in red ink one year earlier in 2023.

Below are exports from Cuba that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Cuba’s goods trail Cuban importer spending on foreign products.

1. Machinery including computers: -US$516.9 million (Up by 0.01% since 2023)
2. Meat: -$457.7 million (Up by 13.9%)
3. Electrical machinery, equipment: -$378.3 million (Up by 30.3%)
4. Vehicles: -$285.3 million (Up by 26.2%)
5. Beverages, spirits, vinegar: -$170.1 million (Down by -50.3%)
6. Cereals: -$169.2 million (Down by -34.9%)
7. Dairy, eggs, honey: -$136.7 million (Up by 31.4%)
8. Plastics, plastic articles: -$111.5 million (Down by -36.7%)
9. Cereal/milk preparations: -$111 million (Up by 20.4%)
10. Meat/seafood preparations: -$102.8 million (Down by -3.7%)

Cuba has highly negative net exports and therefore deep international trade deficits under the machinery including computers category, historically for machinery parts, refrigerators and freezers, as well as centrifuges.

Cuban Export Companies

No Cuban corporation ranks among Forbes Global 2000.

Wikipedia lists exports-related companies from Cuba. Selected examples are shown below.

• Cubana de Aviación (airline)
• Cubatabaco (tobacco)
• Cuba Petróleo Unión (oil, gas)
• Havana Club (rum)
• Modelo Brewery (beer)

 

One key indicator of a country’s economic performance is its unemployment rate. Cuba’s unemployment rate averaged 1.5% for 2024, down from an average 1.7% during 2023 according to Trading Economics metrics.

Cuba’s capital city is Havana.

See also Russia’s Top 10 Imports, Russia’s Top Trading Partners, Sugar Exports by Country and Beer Imports by Country

Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on May 18, 2025

Forbes, Global 2000 rankings, The World’s Biggest Public Companies. Accessed on May 18, 2025

International Trade Centre, Trade Map. Accessed on May 18, 2025

Investopedia, Net Exports Definition. Accessed on May 18, 2025

Wikipedia, List of Companies of Cuba. Accessed on May 18, 2025

Wikipedia, Cuba. Accessed on May 18, 2025

WorldOMeter, Cuba Population. Accessed on May 18, 2025