Some frightening Cuba Numbers

[El Presidente]

 

"Meanwhile, exports have plummeted in Cuba, because of the demise of the sugar industry and the decline or standstill of the country’s other few export sectors. According to ONEI figures, goods exported reached 5.87 billion USD in 2011, but a decade later, in 2021, this only stood at 1.966 billion USD, shrinking by 66.5%.

This decrease in foreign revenue has also hit the services sector, which is currently our leading sector in the international market. Services, including tourism and professional services abroad, went from 11.449 to 6.053 million USD, if we take the official exchange rate of 24 CUP per 1 USD into account. This represents a 47.1% decrease.

These limited foreign currency funds lead to the need to reduce imports, which have shrunk from 13.952 to 8.431 million USD in the years taken as an example above, representing a 39.6% decrease."

 

Full article:  Cuba: Exchange Rates Drop, but Domestic Prices Increase

[Blakes]

Just bang up the prices of the stuff that is still exported 66.5% to make the shortfall... 🤷‍♂️

😎

[BellevilleMXZ]

Thats a scary drop.....☹️

[Lamboinee]

10 hours ago, El Presidente said:

Meanwhile, exports have plummeted in Cuba, because of the demise of the sugar industry and the decline or standstill of the country’s other few export sectors.

https://www.reuters.com/business/energy/cubas-sugar-industry-headed-toward-worst-season-ever-production-falters-2022-02-23/

 

In case you didn't catch that article back in feb.

[NSXCIGAR]

And somehow HSA revenue is going to be the same as last year...

I had a little more faith in the numbers when the British were involved. With the Chinese let the book cooking begin. 

 

16 hours ago, therealrsr said:

Hasta la victoria siempre!  There was a picture of a simple neighborhood fruit stand this morning on the Cuba reddit sub and the prices were astonishing.

I'm sure, and the gestapo is out there cracking heads at these stands. The state always prefers shortages to high prices.

https://www.fohcigars.com/forum/topic/154218-cuba’s-leaders-order-a-new-crackdown-on-illegal-activities/

[PigFish]

Maggie was right! Eventually you run out of other peoples’ money!!!