Part 224

Political parties and leaders: only party - Cuban Communist Party or PCC [Fidel CASTRO Ruz, first secretary]

International organization participation: CCC, ECLAC, FAO, G-77, IAEA, ICAO, ICRM, IFAD, IFRCS, IHO, ILO, IMO, Inmarsat, Intelsat (nonsignatory user), Interpol, IOC, ISO, ITU, LAES, LAIA (observer), NAM, OAS (excluded from formal participation since 1962), PCA, UN, UNCTAD, UNESCO, UNIDO, UNOMIG, UPU, WCL, WFTU, WHO, WIPO, WMO, WToO, WTrO

Diplomatic representation in the US: none; note - Cuba has an Interests Section in the Swiss Embassy, headed by Principal Officer Fernando REMIREZ DE ESTENOZ; address: Cuban Interests Section, Swiss Embassy, 2630 16th Street NW, Washington, DC 20009; telephone: (202) 797-8609, 8610, and 8615

Diplomatic representation from the US: none; note - the US does have an Interests Section in the Swiss Embassy, headed by Principal Officer Michael G. KOZAK; address: USINT, Swiss Embassy, Calzada between L and M, Vedado Seccion, Havana; telephone: 33-3551 through 3559 and 33-3543 through 3547 (operator assistance required); FAX: 33-3700; protecting power in Cuba is Switzerland

Flag description: five equal horizontal bands of blue (top and bottom) alternating with white; a red equilateral triangle based on the hoist side bears a white five-pointed star in the center

Economy

Economy - overview: The state plays the primary role in the economy and controls practically all foreign trade. The government has undertaken several reforms in recent years to stem excess liquidity, increase labor incentives, and alleviate serious shortages of food, consumer goods, and services. The liberalized agricultural markets introduced in October 1994, at which state and private farmers sell above-quota production at unrestricted prices, have broadened legal consumption alternatives and reduced black market prices. Government efforts to lower subsidies to unprofitable enterprises and to shrink the money supply caused the peso's black market value to move from a peak of 120 to the dollar in the summer of 1994 to a low of 18-20 to the dollar in late September before climbing to 20-21 at the end of 1996. New taxes helped drive down the number of legally registered self-employed workers from 208,000 in January 1996 to 180,000 by December. Havana announced in 1995 that GDP declined by 35% during 1989-1993, the result of lost Soviet aid and domestic inefficiencies. The drop in GDP apparently halted in 1994, when Cuba reported a 0.7% growth. Government officials claimed that GDP increased by 2.5% in 1995 and 7.8% in 1996. Export earnings rose an estimated 40% in 1996 to $2.1 billion, largely on the strength of increased sugar shipments to Russia and higher nickel production through a joint venture with a Canadian firm. With the economic recovery, imports rose for the second straight year, growing by an estimated 26% to $3.5 billion. Living standards for the average Cuban, however, have not improved significantly.

GDP: purchasing power parity - $16.2 billion (1996 est.)

GDP - real growth rate: 7.8% (1996 est.)

GDP - per capita: purchasing power parity - $1,480 (1996 est.)

GDP - composition by sector: agriculture: 7% industry: 31% services: 62% (1996 est.)

Inflation rate - consumer price index: NA%

Labor force: total : 4.71 million economically active population (1989); 3,527,000 employed in state civilian sector (1989) by occupation: services and government 30%, industry 22%, agriculture 20%, commerce 11%, construction 10%, transportation and communications 7% (June 1990)

Unemployment rate: NA%

Budget: revenues: $NA expenditures: $NA, including capital expenditures of $NA

Industries: sugar, petroleum, food, tobacco, textiles, chemicals, paper and wood products, metals (particularly nickel), cement, fertilizers, consumer goods, agricultural machinery

Industrial production growth rate: 6% (1995 est.)

Electricity - capacity: 4.082 million kW (1995)

Electricity - production: 11.189 billion kWh (1995)

Electricity - consumption per capita: 822 kWh (1995 est.)

Agriculture - products: sugarcane, tobacco, citrus, coffee, rice, potatoes and other tubers, beans; livestock

Exports: total value: $2.1 billion (f.o.b., 1996 est.) commodities: sugar, nickel, tobacco, shellfish, medical products, citrus, coffee partners : Canada 23%, Russia 21% China 7% (1996 est.)

Imports: total value: $3.5 billion (c.i.f., 1996 est.) commodities : petroleum, food, machinery, chemicals partners: Russia 14%, Spain 13%, Mexico 11% (1996 est.)

Debt - external: $10.5 billion (convertible currency, 1996); another $20 billion owed to Russia (1996)

Economic aid: recipient: ODA, $NA

Currency: 1 Cuban peso (Cu$) = 100 centavos

Exchange rates: Cuban pesos (Cu$) per US$1 - 1.0000 (non-convertible, official rate, linked to the US dollar)

Fiscal year: calendar year