Cuba: Merchandise trade (% of GDP)
In , Cuba's Merchandise trade (% of GDP) was 8.32.
That's down 28.1% from 2019, the highest value since .
The global average for this indicator in 2020 was 64.89 .
Source: World Bank Open Data (TG.VAL.TOTL.GD.ZS) • Data as of 2020
Trend (2005–2020)
- 2008 · Global financial crisis
- 2020 · COVID-19 pandemic
- 2014 · Oil price collapse
Highlights
- Peak
- 34.33
- Trough
- 8.32
- 1-year change
- -28.1%
- 5-year change
- -51.8%
- -13.6% / yr
- 10-year change
- -69.8%
- -11.3% / yr
Historical Data — Last 10 Years
| Year | Merchandise trade (% of GDP) |
|---|---|
| 8.3212 | |
| 11.5665 | |
| 13.8501 | |
| 12.9829 | |
| 13.7758 | |
| 17.2748 | |
| 22.1856 | |
| 25.9112 | |
| 27.0286 | |
| 29.9797 |
About Merchandise trade (% of GDP)
General merchandise trade includes goods whose economic ownership is changed between a resident and a non-resident and that are not included in the following specific categories: goods under merchanting, non-monetary gold, and parts of travel, construction, and government goods and services n.i.e. It is the total of merchandise exports plus merchandise imports. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.
Indicator code: TG.VAL.TOTL.GD.ZS • Category: Trade & Finance
Frequently asked questions
- What was Cuba's Merchandise trade (% of GDP) in 2020?
- In 2020, Cuba's Merchandise trade (% of GDP) was 8.32, according to World Bank Open Data.
- Is Cuba's Merchandise trade (% of GDP) rising or falling?
- Cuba's Merchandise trade (% of GDP) fell 28.1% from 2019 to 2020.
- How does Cuba's Merchandise trade (% of GDP) compare to the world average?
- The global average for Merchandise trade (% of GDP) in 2020 was 64.89, so Cuba is below the world average.
- What is Merchandise trade (% of GDP) and how is it measured?
- General merchandise trade includes goods whose economic ownership is changed between a resident and a non-resident and that are not included in the following specific categories: goods under merchanting, non-monetary gold, and parts of travel, construction, and government goods and services n.i.e. It is the total of merchandise exports plus merchandise imports. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.
Source: World Bank Open Data (TG.VAL.TOTL.GD.ZS), CC BY 4.0.