Cuba with Favorable Trade Balance in 2012

Havana, Dec 11 (RHC) Cuba will close its economic activity in 2012 with a favorable trade balance mainly marked by the sustained growth of the exports of its added-value services, said deputy Foreign Investment and Trade Minister Oscar Perez Oliva.

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The favorable balance in Cuban exports will translate in an income calculated at 2.4 billion, with over 1.4 billions contributed by health and tourist services, which stand for a growing trend of those two services, said the official.

Despite these results, the country has not yet achieved the expected diversification of its exports, since there is high dependence on the export of products, like nickel, with very varying prices at the world market.

The country continues to depend on imports, a situation that is not expected to change, though—he noted—it is not the import bulk what matters, but what is being imported, because the country needs to encourage local productions, food in particularly.

Cuba’s foreign trade mainly focuses on nickel, sugar, rum, cigars and pharmaceuticals, with major markets in Venezuela, China, Canadá, Spain, Brazil, the Netherlands, México, Italy, France and Russia.

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