five equal horizontal bands of blue (top, center, and bottom) alternating with white; a red equilateral triangle based on the hoist side bears a white, five-pointed star in the center
Economy ::Cuba
Economy - overview:
The government continues to balance the need for economic loosening against a desire for firm political control. It has rolled back limited reforms undertaken in the 1990s to increase enterprise efficiency and alleviate serious shortages of food, consumer goods, and services. The average Cuban's standard of living remains at a lower level than before the downturn of the 1990s, which was caused by the loss of Soviet aid and domestic inefficiencies. Since late 2000, Venezuela has been providing oil on preferential terms, and it currently supplies about 100,000 barrels per day of petroleum products. Cuba has been paying for the oil, in part, with the services of Cuban personnel in Venezuela including some 30,000 medical professionals.
GDP (purchasing power parity):
$108.4 billion (2008 est.) country comparison to the world: 64 $103.9 billion (2007 est.)
$96.9 billion (2006 est.)
note: data are in 2008 US dollars
GDP (official exchange rate):
$54.71 billion (2008 est.)