Cuba’s High 10 Imports 2020

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Cuban flag (FlagPictures)

Positioned in northern Caribbean and east of Mexico, the Republic of Cuba’s imported items price an estimated complete US$3.44 billion in 2020. That greenback quantity displays a -66.5% plunge since 2016 and a -36.6% drop from 2019 to 2020.

Based mostly on newest accessible information from 2018, over three-quarters (78.2%) of Cuban imports had been purchased from suppliers in Venezuela (23% of complete), China (13.4%), Spain (10.5%), Mexico (4.5%), Brazil (3.9%), Italy (3.4%), Vietnam (3.3%), Algeria (3.2%), Germany (3.1%), France (additionally 3.1%) and Canada (2.9%).

From a continents-based perspective, the main share of Cuba’s imports originated from suppliers in Latin America (34.4%) excluding Mexico. Shut behind had been suppliers in Europe (30.8%) trailed by Asia (21%), North America (9.7%), Africa (3.7%), and Oceania (0.2%) led by New Zealand.

Given Cuba’s inhabitants of 11.3 million individuals, its estimated $3.44 billion price of imports interprets to roughly $300 in yearly product demand from each individual within the Cuban assortment of islands.

High 10

The next product teams symbolize the best greenback worth in Cuba’s import purchases throughout 2020. Additionally proven is the proportion share every product class represents when it comes to total imports into Cuba.

  1. Equipment together with computer systems: US$509.3 million (14.8% of complete imports)
  2. Electrical equipment, tools: $303.3 million (8.8%)
  3. Meat: $269.3 million (7.8%)
  4. Cereals: $243.7 million (7.1%)
  5. Plastics, plastic articles: $164.2 million (4.8%)
  6. Dairy, eggs, honey: $138.1 million (4%)
  7. Automobiles: $121.5 million (3.5%)
  8. Articles of iron or metal: $104.5 million (3%)
  9. Furnishings, bedding, lighting, indicators, prefabricated buildings: $87.2 million (2.5%)
  10. Different chemical items: $81.2 million (2.4%)

Cuba’s high 10 imports accounted for 58.7% of the general price of its product purchases from different nations.

The only product class to extend from 2019 to 2020 is furnishings, bedding, lighting, indicators and prefabricated buildings by way of a 31.1% acquire.

Main the declining classes had been Cuba’s imported automobiles (down -5618%), gadgets comprised of iron or metal (down -44.5%), and equipment together with computer systems (down -41.3%).

Please be aware that info offered underneath the adjoining digital folder tabs is on the extra granular 4-digit degree.

Equipment

In 2020, Cuban importers spent essentially the most on the next 10 subcategories of equipment together with computer systems.

  1. Fridges, freezers: US$33.8 million (up 5.7% from 2019)
  2. Centrifuges, filters and purifiers: $32.8 million (down -36.8%)
  3. Liquid pumps and elevators: $29.6 million (down -35.8%)
  4. Printing equipment: $28.5 million (up 22.7%)
  5. Equipment elements: $28.2 million (down -35.5%)
  6. Miscellaneous equipment: $27.4 million (down -26.9%)
  7. Faucets, valves, comparable home equipment: $27 million (down -23.7%)
  8. Air conditioners: $25.8 million (up 7%)
  9. Type/display screen/washing equipment: $24.1 million (down -34.8%)
  10. Air or vacuum pumps: $19.3 million (down -47.3%)

Amongst these import subcategories, Cuban purchases of printing equipment (up 22.7%), air conditioners (up 7%) then fridges and freezers (up 5.7%) grew from 2019 to 2020.

These quantities and the proportion beneficial properties inside parenthesis clearly present the place the strongest demand lies for various kinds of imported equipment together with computer systems amongst Cuban companies and shoppers.

Electronics

In 2020, Cuban importers spent essentially the most on the next 10 subcategories of electronics-related items.

  1. Cellphone system gadgets together with smartphones: US$84.3 million (down -20.6% from 2019)
  2. Insulated wire/cable: $40.8 million (down -13.6%)
  3. Electrical circuit elements, fuses, switches: $19.3 million (down -6.4%)
  4. Decrease-voltage switches, fuses: $19.2 million (down -34.8%)
  5. Electrical converters/energy items: $19.2 million (down -25.1%)
  6. Electrical/optical circuit boards, panels: $16.4 million (down -58.8%)
  7. Electrical storage batteries: $12.5 million (down -19%)
  8. TV receivers/screens/projectors: $12 million (down -36.1%)
  9. Electrical water heaters, hair dryers: $9.1 million (down -43.2%)
  10. Electrical equipment: $8 million (up 177.9%)

Amongst these import subcategories, Cuban purchases {of electrical} equipment was the lone product subcategory to develop by way of a 177.9% improve from 2019 to 2020.

These quantities and the proportion acquire clearly present the place the strongest demand lies for various kinds of imported electronics-related items amongst Cuban companies and shoppers.

Meat

In 2020, Cuban importers spent essentially the most on the next subcategories of meat-related merchandise.

  1. Poultry meat: US$257.5 million (down -9.6% from 2019)
  2. Frozen beef: $5.1 million (down -49.9%)
  3. Swine meat: $4.2 million (down -57.9%)
  4. Salted/dried/smoked meat: $911,000 (down -66.0%)
  5. Sheep or goat meat: $509,000 (up 3.5%)
  6. Pig, poultry fats: $381,000 (up 212.3%)
  7. Recent or chilled beef: $240,000 (up 27.7%)
  8. Purple meat offal: $131,000 (down -87.3%)

Amongst these import subcategories, Cuban purchases of pig or poultry fats (up 212.3%), contemporary or chilled beef (up 27.7%) and sheep or goat meat (up 3.5%) elevated from 2019 to 2020.

These quantities and the proportion beneficial properties inside parenthesis clearly present the place the strongest demand lies for various kinds of imported meat-related merchandise amongst Cuban companies and shoppers.

Cereals

In 2020, Cuban importers spent essentially the most on the next subcategories of cereals.

  1. Wheat: US$140.3 million (down -22.5% from 2019)
  2. Rice: $58.9 million (up 18.3%)
  3. Corn: $44.1 million (down -69.8%)
  4. Oats: $433,000 (down -76.6%)
  5. Canary seeds, millet: $123,000 (down -13.4%)

Amongst these import subcategories, Cuba’s purchases of rice generated the only real improve, increasing by 18.3% from 2019 to 2020.

These quantities and the proportion beneficial properties inside parenthesis clearly present the place the strongest demand lies for various kinds of imported cereals amongst Cuban companies and shoppers.

See additionally Cuba’s High 10 Exports, China’s High 10 Exports and Spain’s High 10 Exports

Analysis Sources:
Central Intelligence Company, The World Factbook Nation Profiles. Accessed on September 17, 2021

Worldwide Financial Fund, World Financial Outlook Databases (GDP based mostly on Buying Energy Parity). Accessed on September 17, 2021

Worldwide Commerce Centre, Commerce Map. Accessed on September 17, 2021

Wikipedia, Cuba. Accessed on September 17, 2021

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