Cuba, with a population of over 11 million, possesses a centrally planned economy with its foundations rooted in agriculture, healthcare, biotechnology, and tourism. The Cuban economy relies heavily on its key industries, including sugar, tobacco, pharmaceuticals, and medical services. Notable exports include sugar, cigars, nickel, and biotechnology products. Cuba’s role in the international economy has been largely defined by its medical diplomacy, offering healthcare expertise and pharmaceutical innovation to various countries. The nation’s GDP is around $100 billion, with a per capita income of approximately $9,000. Despite economic challenges, Cuba remains a resilient player in sectors such as healthcare and renewable energy.
Through engagement with the World Business Council, Cuban authorities and enterprises have an opportunity to diversify their international alliances, fostering trade, tourism, and innovation. Participation with WBC can enable Cuba to further leverage its global strengths, particularly in healthcare and biotechnology, while facilitating new investment avenues that enhance its global economic footprint.
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