Cuba's terms of trade adjustment (constant LCU) was -3.15 billion in 2024, the latest year in the World Bank's World Development Indicators. That is down 222.06% from -978.29 million in 2014.
Key figures
| Value | Year | |
|---|---|---|
| Latest | -3.15 billion | 2024 |
| Five years earlier | 299.07 million | 2019 |
| Ten years earlier | -978.29 million | 2014 |
| Highest | 2.66 billion | 1985 |
| Lowest | -4.22 billion | 2008 |
| Average since 2015 | -573.75 million | 2015–2024 |
| First recorded | 925.71 million |
What the numbers say
In 2024, Cuba's terms of trade adjustment (constant LCU) fell 720.09 million on 2023 (from -2.43 billion to -3.15 billion).
Across the 30 yearly changes before that (1994 to 2023), the average change was −65.55 million and a typical year strayed about 1.1 billion from that (the standard deviation). This year's change was 0.6 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was 2.71 billion in 2010 and the biggest yearly fall was 3.14 billion in 2008. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 the straight-line trend is downward, about 375.93 million a year. A straight line explains 57% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2024, Cuba had the 23rd highest value of the 29 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
Closest to Cuba in the 2024 ranking
- New Zealand — 19th of 29: -628.28 million
- Oman — 20th of 29: -702.51 million
- Eswatini — 21st of 29: -2.62 billion
- Tajikistan — 23rd of 29: -4.45 billion
- Kuwait — 24th of 29: -4.52 billion
- Bhutan — 25th of 29: -6.63 billion
What this measures
The terms of trade adjustment is equal to the capacity to import (current price value of exports of goods and services deflated by the import price index) less exports of goods and services in constant prices. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment varies by country. This series is expressed in local currency units.
All 55 values
| Year | Terms of trade adjustment (constant LCU) |
|---|---|
| 2024 | -3,150,692,869 |
| 2023 | -2,430,605,083 |
| 2022 | -1,701,283,978 |
| 2021 | -1,190,395,403 |
| 2020 | 1,075,559,316 |
| 2019 | 299,067,471 |
| 2018 | 157,798,777 |
| 2017 | 1,015,488,322 |
| 2016 | 941,344,806 |
| 2015 | -753,788,417 |
Terms of trade adjustment (constant LCU) in nearby economies
- Argentina — 59.64 billion (2025)
- Bahamas, The — -297.96 million (2024)
- Belize — 57.92 million (2024)
- Bolivia — 2.48 billion (2024)
- Brazil — -50.96 billion (2025)
- Chile — 15.42 trillion (2025)
- Colombia — 43.29 trillion (2025)
- Costa Rica — 1.37 trillion (2025)
- Dominican Republic — 73.4 billion (2025)
- Ecuador — 1.74 billion (2025)
More economic policy & debt data for Cuba
- Grants, excluding technical cooperation (BoP, current US$) — US$139.62 million (2023)
- Technical cooperation grants (BoP, current US$) — US$18.29 million (2023)
- Net official development assistance and official aid received (current US$) — US$167.15 million (2023)
- Net official development assistance and official aid received (constant 2023 US$) — US$167.15 million (2023)
- Net official development assistance received (current US$) — US$167.15 million (2023)
- Net official development assistance received (constant 2023 US$) — US$167.15 million (2023)
- Net ODA received per capita (current US$) — US$15.17 (2023)
- Net bilateral aid flows from DAC donors, Total (current US$) — US$92.95 million (2023)
Reading data like this
Questions people ask
- What is Cuba's terms of trade adjustment (constant LCU)?
- -3.15 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1970?
- It is down 440.35% from 925.71 million in 1970. The highest value was 2.66 billion in 1985 and the lowest -4.22 billion in 2008.
- How does Cuba rank?
- 23rd highest of 29 economies with data for 2024.
- Is the latest change in terms of trade adjustment (constant LCU) unusual for Cuba?
- In 2024, Cuba's terms of trade adjustment (constant LCU) fell 720.09 million on 2023 (from -2.43 billion to -3.15 billion). Across the 30 yearly changes before that (1994 to 2023), the average change was −65.55 million and a typical year strayed about 1.1 billion from that (the standard deviation). This year's change was 0.6 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
Source
World Bank, World Development Indicators, indicator NY.TTF.GNFS.KN, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
Want to ask your own questions of data like this? Try AnalyzeIt: upload a file or ask about public data in plain words, and every figure comes with its working.
Legal entity
Devansh Yadav
Moradabad, Uttar Pradesh
Governing law: Courts at Moradabad, Uttar Pradesh
Phone: +91 8433475698
Legal: legal@analyzeit.in