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realclearworld

Cuba hiding collapse of its foreign trade

Like all its other multitudinous failures, the dictatorship of Raul Castro in Cuba is hiding the collapse of the country's foreign trade.

Via Martí News (my translation):

Cuba hiding collapse of its foreign trade

Bodega cubana.

According to the firm Trade, which conducts analysis on the international export trade, Cuba reduced its imports of consumer goods and raw materials by 75% while its exports only reached half the totals achieved in 2011.

[...]

According to statistical analyses from COMEX, imports to Cuba fell by $6.1 billion dollars in 2011 to only $1.8 billion this past year with no compensation from domestic production to offset the reduction.

Read the entire report (in Spanish) HERE.

1 comment to Cuba hiding collapse of its foreign trade

  • asombra

    So let's end the embargo to bail them out and subsidize their failure. I mean, the Soviets did, and later Chavez picked up the tab. Surely the US can't look stingy, now can it?