Economic Growth in Cuba
Cuba's economy recorded an average real GDP growth rate of 0.6% in the decade to 2021, which is below the 2.1% average for Central America and Caribbean. In 2021, real GDP growth was 1.3%. For more GDP information, visit our dedicated page.
Cuba GDP Chart
Note: This chart displays Economic Growth (GDP, annual variation in %) for Cuba from 2013 to 2022.
Source: Macrobond.
Cuba GDP Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, ann. var. %) | -0.2 | -10.9 | 1.3 | 1.8 | - |
| GDP (USD bn) | 103.4 | 107.4 | 22.7 | 26.4 | - |
| Economic Growth (Nominal GDP, ann. var. %) | 3.4 | 3.8 | 407.9 | 16.2 | - |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Cuban GDP projections for the next ten years from a panel of 4 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for Cuban GDP.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Cuban GDP projections.
Want to get access to the full dataset of Cuban GDP forecasts? Send an email to info@focus-economics.com.