p and bottom)
alternating with white; a red equilateral triangle based on the hoist
side bears a white, five-pointed star in the center; design influenced
by the US flag

Economy Cuba

Economy - overview: The government continues to balance the need for
economic loosening against a concern for firm political control. It has
undertaken limited reforms in recent years to stem excess liquidity,
increase enterprise efficiency, and alleviate serious shortages of
food, consumer goods, and services, but is unlikely to implement
extensive changes. A major feature of the economy is the dichotomy
between relatively efficient export enclaves and inefficient domestic
sectors. The average Cuban's standard of living remains at a lower level
than before the severe economic depression of the early 1990s, which
was caused by the loss of Soviet aid and domestic inefficiencies. High
oil prices, recessions in key export markets, and damage from Hurricane
Michelle hampered growth in 2001. Cuba paid high prices for oil imports
in the face of slumping prices in the key sugar and nickel industries
and suffered a slowdown in tourist arrivals following September 11. The
government subsequently depreciated the peso by approximately 30% and
now aims for 3% growth in 2002.

GDP: purchasing power parity - $25.5 billion (2001 est.)

GDP - real growth rate: 3% (2001 est.)

GDP - per capita: purchasing power parity - $2,300 (2001 est.)

GDP - composition by sector: agriculture: 7.6% industry: 34.5% services:
57.9% (2000 est.)

Population below poverty line: NA%

Household income or consumption by percentage share: lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices): 0.5% (2001 est.)

Labor force: 4.3 million (2000 est.) note: state sector 78%, non-state
sector 22% (1999)

Labor force - by occupation: agriculture 24%, industry 25%, services 51%
(1999)

Unemployment rate: 4.1% (2001 est.)

Budget: revenues: $14.9 billion expenditures: $15.6 billion, including
capital expenditures of $NA (2000 est.)

Industries: sugar, petroleum, tobacco, chemicals, construction, services,
nickel, steel, cement, agricultural machinery, biotechnology

Industrial production growth rate: 2.4% (2001 est.)

Electricity - production: 14.87 billion kWh (2000)

Electricity - production by source: fossil fuel: 94.63% hydro: 0.4%
other: 4.97% (2000) nuclear: 0%

Electricity - consumption: 13.829 billion kWh (2000)

Electric