From our Bureau of Socialist Efficiency with some assistance from our Bureau of Gargantuan Trade Imbalances
Anyone who doubts that the word “socialism” is synonymous with “dysfunction” only needs to take a look at Castrogonia.
The island of Cuba has some of the most fertile soil on earth and a tropical climate that allows for year-long cultivation and a constant rotation of harvests. In other words, Cuba could be an agricultural powerhouse. Yet, all that Castro, Inc. has managed to do with this golden opportunity for economic success is to squander it, miserably.
Most of what it spends on imports goes for food. Its two top imports are cereals (787 million dollars, of which almost 328 million go to the purchase of rice and about 217 million to wheat), and meat (Meat: 526 million dollars, of which almost 438 are invested in meat and poultry offal).
Poultry offal. Not poultry, but poultry offal (the entrails and internal organs). Lord have mercy.
And despite spending so much on basic food items, Cubans have to put up with constant shortages and standing in line for scraps.
Loosely translated from Periodico Cubano
Cuba spent almost four times more on imports than what was sold to the foreign market, confirming the marked deficit in the trade balance during 2021, according to official data from the National Office of Statistics and Information (Onei).
During the period, the Castro government, which has a monopoly on foreign trade, spent 8,431 million dollars to supply products to the domestic market, including hotels, and was only able to sell exports worth 1,966 million dollars.
In this way, the deficit in the trade balance was marked at 6,465 million dollars, 20% compared to 2020. Sales were reduced especially by the low production of sugar, which meant in 2021 37% less than in 2020 and 78% compared to 2017.
According to Onei records, the area that Cuba has the most dependency on abroad is food. The regime continues in the wrong attitude of preferring to spend money abroad instead of investing in local agriculture and letting Cuban peasants create wealth with their work without ties. During the last five years, the amount dedicated to this item has remained around 2,000 million dollars per year.