14ymedio, Havana, 28 January 2020 – Chinese exports to Cuba fell by almost 30% in a single year from 1.1 billion dollars in 2018 to 791 million dollars in 2019, that is, 309 million dollars less.
The data – provided by the Chinese Customs Office on Monday and disseminated by the British agency Reuters –reveal the liquidity crisis experienced by the Island, since the figure was even higher in 2015, with exports worth 1.9 billion dollars, 63.6% more than now.
That year was the first in which Cuba began to lag in import payments to its foreign suppliers, coinciding with the fall in aid from its main political and economic partner at that time, Venezuela.
China has since gained prominence as an ally of Cuba and continues to be one of its main supports. The Asian giant invests in alternative energy and financing for development in light industry and communications, among others.
In addition, China supplies Havana machinery and transport equipment, raw materials, chemicals and food.
In 2018, Cuba exported goods and services worth a total of $14.5 billion, and imported $12.6 billion. The data for the last year have not yet been provided, but reductions are expected, as Diaz-Canel himself announced.
Cuba’s exports to China are valued at $492 million in 2019, the most important being sugar and nickel.
______________________
COLLABORATE WITH OUR WORK: The 14ymedio team is committed to practicing serious journalism that reflects Cuba’s reality in all its depth. Thank you for joining us on this long journey. We invite you to continue supporting us by becoming a member of 14ymedio now. Together we can continue transforming journalism in Cuba.
