Cuba’s exports might grow by 630 million dollars in 2024

Cuban purchases in the US rose to more than 27 million USD in February

HAVANA, dec. 21st. Speaking at the 2nd Sessions of the 10th Legislature of the National People’s Power Assembly (Parliament), the minister explained that the prediction implies a 630-million-dollar increase compared to 2023 estimates, thanks to an increase of 230 million dollars in the export of goods, and 400 million dollars in the exports of services.

In the case of the former, growth should be recorded in cigars, nickel and cobalt, raw sugar and rum, to reach a total of 2.385 billion dollars in sales of Cuban goods; while services should reach 7.31 billion dollars, with the main increases in tourism and airport services.

Regarding tourism, he reiterated the goal of receiving 3.1 million vacationers in 2024, which would represent an increase of 27 percent compared to the 2003 estimates, which should close the year with around 2.45 million holidaymakers, according to statistics disclosed by the Cuban Parliament.

Gil indicated that this expected figure next year would be equivalent to 73 percent of what was reported in 2019, so there is still potential and reserve for the growth of the sector, which has an impact on the entire chain of the economy.

Along the same lines, he stated that authorities plan a 29-percent increase in tourist income a day compared to this year.

According to the report presented this week at the meetings of the Permanent Work Commissions of Parliament, Cuba’s total exports currently present a negative gap that exceeds three billion dollars compared to 2019.

Sales of goods in Cuba in 2023 are estimated at 9.7 billion dollars, 770 million dollars lower than planned, although there is a recovery in some exportable items such as tobacco and fishing products.

The report noted that national production for domestic consumption and exports were affected during the year, due to the fuel deficit and the shortage of inputs.