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Cuba profile

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(Last updated: 4 June 2008)

Current business situation

The Department of Foreign Affairs and Trade (DFAT) provides advice for business travellers and tourists going to Cuba. This is regularly updated, and should be checked before planning travel.

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Country facts

Capital city: Havana
Surface area: 110,860 sq km
Population: 11,423,952 (July 2008 est.)
Official language(s): Spanish
Head of State & Head of Government: Gen. Raul Castro Ruz
Cuba's principal export destinations: Netherlands, Canada, China
Cuba's principal import sources: Venezuela, China, Spain

(Source: CIA - The World Fact Book)

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Economic climate

Key economic indicators and statistics for 2007:

  • GDP (PPP) – US$51.11 billion
  • GDP per capita (PPP) – US$4,500
  • Real GDP growth – 7 per cent
  • Inflation – 3.1 per cent

(Source: CIA - The World Fact Book)

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Political climate

President Fidel Castro remains the head of the one-party system of 'Cuban Socialism'. Although in August 2006, due to serious illness, Castro nominally transferred power to his brother (and designated successor), Raul, on a 'temporary' basis. 


Cuba remains a heavily authoritarian state, with severe limits on political freedoms, including freedom of expression and the media.

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Trade relations and statistics

Australia and Cuba have maintained diplomatic relations since January 1989, but there is limited official contact between Cuba and Australia.


Cuba has been subject to a US economic embargo since 1962, codified into law under the Cuban Liberty and Democratic Solidarity Act (also known as the Helms Burton Act) of 1996.

(Source: Department of Foreign Affairs and Trade - Country brief)

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OECD Guidelines for Multinational Enterprises

Multinational Enterprises should be aware of the OECD Guidelines for Multinational Enterprises that provide voluntary principles and standards for responsible business behaviour in a variety of areas, consistent with applicable domestic laws. These Guidelines are endorsed and promoted by the Australian Government. For more information, go to the ANCP website.

     

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