Cuba

Cuba ranked No. 136 in total trade value through July with a total of $115.44 million. Exports totaled $101.75 million and Imports totaled $13.69 million, a surplus of $88.07 million.

U.S. trade with Cuba rose to $115.44 million through July

Cuba’s trade with the United States rose to $115.44 million through the first seven months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 44.98 percent below its total trade during the same time period last year. U.S. exports to Cuba decreased 51.23 percent while U.S. imports from Cuba rose 1046.61 percent. The U.S. surplus with Cuba was $88.07 million.

Through July, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Mobile, Ala.; No. 2 Port of New Orleans; No. 3 Port of Jacksonville, Fla.; No. 4 John F. Kennedy International Airport; and No. 5 Port of Wilmington, N.C.. During the same period the previous year, the top five were No. 1 Port of New Orleans; No. 2 Port of Jacksonville, Fla.; No. 3 Port of Mobile, Ala.; No. 4 Port of Greater Baton Rouge, La. and No. 5 Port of Wilmington, N.C.. In the current time period, the top five accounted for 85.9 percent of Cuba’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Mobile, Ala. rose 10.17 percent to $27.61 million.
    Exports rose 10.17 percent to $27.61 million. There were no imports.
  • Trade with No. 2 Port of New Orleans fell 69.46 percent to $26.35 million.
    Exports fell 69.46 percent to $26.35 million. There were no imports.
  • Trade with No. 3 Port of Jacksonville, Fla. fell 29.85 percent to $22.4 million.
    Exports fell 29.85 percent to $22.4 million. There were no imports.
  • Trade with No. 4 John F. Kennedy International Airport rose 110.19 percent to $13.59 million.
    Exports fell 97.94 percent to $117,205. Imports rose 1610.49 percent to $13.47 million.
  • Trade with No. 5 Port of Wilmington, N.C. fell 42.69 percent to $9.2 million.
    Exports fell 42.69 percent to $9.2 million. There were no imports.

Cuba ranked No. 136 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 139.

Meanwhile, total U.S. trade with the world increased to $2.08 trillion, down 49.83 percent compared to the same period last year. The nation’s exports dropped 51.38 percent to $799.82 billion; imports dropped 48.81 percent to $1.28 trillion. The nation’s top five countries so far this year, by value, are Mexico; Canada; China; Japan and Germany. The overall trade deficit was $479.12 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Cuba by value through July were the categories of Chicken and other poultry; Corn; Phosphates, etc.; Soybeans; and Returned exports, with change, respectively. They accounted for 94.59 percent of total exports to Cuba.

The value of the top five categories of U.S. imports from Cuba –– Returned exports, without change; Paintings, drawings and other artwork; Original sculptures and statues; and Original engravings, prints, lithographs –– accounted for 100 percent of all inbound shipments.

Looking more closely at U.S. exports to Cuba:

  • Chicken and other poultry fell 34.08 percent compared to last year to $80.77 million.
  • Corn fell 45.37 percent compared to last year to $5.38 million.
  • Phosphates, etc. fell 35.06 percent compared to last year to $4.4 million.
  • Soybeans fell 77.88 percent compared to last year to $3.05 million.
  • Returned exports, with change fell 35.73 percent compared to last year to $2.64 million.

Looking more closely at U.S. imports from Cuba:

  • Returned exports, without change totaled $10 million. The previous year, there were no imports in this category.
  • Paintings, drawings and other artwork rose 380.4 percent compared to last year to $3.62 million.
  • Original sculptures and statues fell 88.94 percent compared to last year to $42,595.
  • Original engravings, prints, lithographs rose 3.12 percent compared to last year to $25,000.

In the latest annual figures available, Cuba recorded $289.35 million in trade with the United States. Total U.S. exports to Cuba were $ 286.8 million and imports from Cuba were $2.55 million. The U.S. surplus with Cuba was $284.25 million.