After a two-year slump, Cuba's economic activity has been picking up since 2003 : GDP growth rate was 2.6% in 2003 and 4% in 2004 and 5.5% in 2005. In 2006, growth should jump to an approximate 4.7% according to the authorities, but this figure probably exceeds the real one due to a new GDP calculation method. However, this recovery remains fragile due to recent bad weather, sugar prices lowering and crude oil rise. Cuba's huge external debt reduction is one of its major challenge. Actually, the island is strongly dependant on its energy and food imports and only has a limited export capacity.

      Agriculture is one of Cuba's main activities, and sugarcane and tobacco are its two pillars. 10% of the country's active population works in the sugar sector which is undergoing a restructuring. Agriculture's productivity highly depends on climatic conditions, especially cyclones. Cuba holds abundant natural mining resources and extensively exploits its nickel, cobalt and crude oil deposits. The manufacturing sector is mainly concentrated in food processing, textile, chemicals and pharmaceuticals. Tourism is an essential activity for the country's economy by providing 12% of its GDP and generating 40% of the country's foreign exchange revenue.

      The embargo upheld by the U.S.A has discouraged Cuba's external trade. However, foreign investments into the country, though subject to very strict rules, are enormous in tourism, energy and telecommunications sectors.

      Its top three export partners are Russia, the Netherlands and Canada. The country mainly exports sugar, nickel, tobacco and fishing products.

      The country's three import partners are Venezuela, Spain and China. Cuba mainly imports hydrocarbons, manufactured products and capital goods.