Cuba Economy and Business

• GDP: US$40.1 billion (2005).
• Main exports: Sugar, nickel, tobacco, fish, citrus, coffee and medical technology.
• Main imports: Food, petroleum, chemicals, machinery and equipment.
• Main trade partners: Venezuela, China, Canada, Spain and The Netherlands.

In recent years Cuba has tried to diversify away from the production of sugar, which has seen decades of ever-decreasing returns. On the back of healthy exports, cigar production has increased 50% since 1998. Biotechnology may yet rescue Cuba from its travails. In 2006, the US government waived the embargo to allow a Cuban cancer treatment to be tested in California. 

In spite of the blockade, tourism continues to grow, and is a key source of hard currency. Strictly speaking, this is the country's only significant service industry, but Cuban doctors and teachers working abroad in return for raw materials such as oil are significant contributors to the country's continued survival. 

Curiously, the USA recently joined the list of Cuba's top 10 trading partners - Washington allows US firms to sell agricultural products to Cuba (US$350 million in 2006) but still forbids imports of any kind.

Courtesy is expected and hospitality should not be lavish, being offered to groups rather than individuals. Best months for business visits are November to April.

Office hours: Mon-Fri 0830-1230 and 1330-1630. Some offices also open on alternate Saturdays from 0800-1700.

Modern facilities are available at Havana International Conference Center, Pabexpo, ExpoCuba and the Varadero Plaza America. 

Cámara de Comercio de la República de Cuba
Calle 21, No 661, esq a A, Vedado, Havana, Cuba
Tel: (7) 551 452/931.
Website: www.camaracuba.cubaweb.cu

Buró de Convenciones de Cuba, COCAL (Information on Conferences/Conventions)
Hotel Neptuno, 3° piso, Calle M entre la 17 y 19, Vedado, Havana, Cuba
Tel: (7) 204 8273.
Website: www.cubameeting.co.cu or www.cocalonline.com

Cubanacán UK Ltd (Information on Conferences/Conventions)
Unit 49, Skylines Village, Limeharbour, London E14 9TS, UK
Tel: (020) 7536 8175/6.
Website: www.cubanacan.co.uk