Cuba

Following on from the 1.4% growth recorded in 2009, the economy expanded by 2.1% in 2010. As the population shrank in absolute terms in 2010, per capita GDP grew at a faster rate. The moderate upturn in economic growth in 2010 was attributable mainly to consumption —especially private consumption— which rose by 4.1%, and goods and services exports, which grew by 2.7%. Tourism also flourished and exports, especially of services, benefited from more favourable prices; health services performed particularly well being indexed to the price of oil. For the second consecutive year there was a sharp decline in investment: 7.7% in 2010. This decline and the modest improvement in public-sector consumption made it possible to reduce the fiscal deficit from 4.8% of GDP in 2009 to 3.7% of GDP in 2010, despite a fall in tax revenue. The unemployment rate rose from 1.7% in 2009 to 2.5% in 2010, against the backdrop of significant labour-market reform. The consumer price index had risen by 1.6% in the 12 months to December 2010, compared with a fall of 0.1% in 2009.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions