Cuba opens 2023 with 1.3 billion dollars exports

Cuba’s exports of goods and services entailed revenues of 1.3 billion dollars in the first half of 2023, equivalent to 35.7 percent of the plan, the Ministry of Economy and Planning reported today.

Speaking before the Economic Affairs Commission of the National Assembly of People’s Power (ANPP, Parliament), the first deputy minister of that portfolio, Leticia Morales, said that this result represents 94 million dollars less than expected for that stage, which is why a strong effort is required in the second half of the year.

The plan for 2023 is for 3,587 billion dollars in exports, therefore, in the second half of the year, 2,305 billion dollars are needed, for a monthly average of 384 million dollars.

Morales pointed out that tobacco, rum, sea products and biopharmaceuticals had a favorable performance in terms of foreign exchange earnings, while nickel, sugar, honey and charcoal did not reach the expected income.

Of the total exports during the period, 6.3 million dollars corresponded to the activity of micro, small and medium-sized enterprises (MSMEs) and self-employed workers.

Likewise, the first deputy minister reported that in the first half of 2023, the island’s imports amounted to 4.368 billion dollars, 33.8 percent of the year’s plan.

State and mixed entities accounted for 91.2 percent of this volume, while 8.8 percent was accounted for by non-state management.

In the latter case, MSMEs imported US$ 264 million, concentrated mainly in final products, for which reason he pointed out that measures should be implemented to promote the purchase of raw materials and materials for the creation of added value.

In presenting the information on the progress of the economy, Morales also referred to the performance of international tourism, which shows a gradual recovery, with 1.3 million visitors received from January to June.

Source: Lao News Agency