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Major exportable items of the country are food items, cocoa, manufactures, and fish. Its exports partners are US, Germany and Australia.
Important importable items of the country are capital goods and food items. For imports the country depends upon the countries such as US, Japan and Australia.
The following diagram shows the level of exports and imports of the country over various years
The World Bank has undertaken many developmental projects for the country to foster economic development and reducing poverty.
The restoration of full diplomatic relations between the US and Cuba, announced simultaneously by Barack Obama and Raúl Castro yesterday, is a huge political breakthrough. The benefits to the Cuban economy, however, will be more gradual. Economic sanctions by the US against Cuba began in 1960. They consisted of a range of measures, only some of which can be removed by the US president in the short term. The rest require congressional approval, which is likely to be a difficult and protracted process. Read more
Mohamed A. El-Erian,
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