United States and Cuba
The United States and Cuba restored diplomatic relations and embassies in 2015 after decades of rupture. That change did not remove the embargo: US restrictions on business, investment and certain transactions remain a central dimension of the relationship, alongside its history of intervention and conflict.
Analysis reviewed: 2026-10-08 · Indicators updated: 2026-10-08Bilateral context
After the 1898 war and the end of Spanish sovereignty, the United States occupied Cuba until May 1902.
What merchandise trade shows
In 2025, goods trade between United States and Cuba totalled 828.3 million current USD.
Documented trade sectors
Within the selected chapters, meat and edible offal stands out in shipments from United States to Cuba, at 339.9 million USD in 2025.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | 828.33 M USD | 2025 · Comtrade |
| Goods: United States to Cuba | 810.78 M USD | 2025 · Comtrade |
| Goods: Cuba to United States | 17.55 M USD | 2025 · Comtrade |
| Services trade | ||
| Export share: United States to Cuba | ||
| Export share: Cuba to United States | ||
| Investment stock: United States in Cuba | ||
| Investment stock: Cuba in United States |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
- Goods trade
- 2025 · UN Comtrade · Goods; complete calendar year; reporter USA. Both directions come from the same verified customs document, not from adding mirror declarations together. Exports generally FOB; imports generally CIF.
- Goods: United States to Cuba
- 2025 · UN Comtrade · Goods; complete calendar year; reporter USA. Both directions come from the same verified customs document, not from adding mirror declarations together. Exports generally FOB; imports generally CIF.
- Goods: Cuba to United States
- 2025 · UN Comtrade · Goods; complete calendar year; reporter USA. Both directions come from the same verified customs document, not from adding mirror declarations together. Exports generally FOB; imports generally CIF.
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
Some annual indicators refer to different years. Check the period beside each value before comparing them.
| Indicator | United States | Cuba |
|---|---|---|
| Nominal GDP | 30.77 trillion USD2025 · WB | |
| GDP per capita | 90,026.52 USD2025 · WB | |
| GDP growth | 2.16 %2025 · WB | -1.06 %2024 · WB |
| Policy interest rate | 3.75–4 %2026-09-16 · Fed | |
| Inflation · annual average | 2.7 %IMF est.Annual average · 2025 · IMF | |
| Inflation · latest year-on-year figure | 3.4 %Year-on-year · Aug. 2026 · BLS | |
| Unemployment | 4.2 %ILO est.2025 · WB | 1.75 %ILO est.2025 · WB |
| Budget balance (% of GDP) | -6.8 %IMF est.2025 · IMF | |
| Gross public debt (% of GDP) | 123.9 %IMF est.2025 · IMF | |
| Current account balance (% of GDP) | -3.63 %2025 · WB | |
| Population | 341,784,8572025 · WB | 10,937,2032025 · WB |
| Area | 9,831,510 km²2023 · BM / FAO | 109,880 km²2023 · WB |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDUnited States: 2025 · World Bank
- GDP per capita
- Current USD per personUnited States: 2025 · World Bank
- GDP growth
- Annual real change (%)United States: 2025 · World BankCuba: 2024 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Policy interest rate
- Central bank instrument (%)United States: 2026-09-16 · Federal funds target range · Federal Reserve
- Inflation · annual average
- Average annual change in headline CPI (%)United States: 2025 · Average annual change in headline CPI (%) · IMF — World Economic Outlook · IMF est. · WEO estimate; not the year-on-year change for December or August 2026. · Alternative official source; verified 2026-10-07
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency statedUnited States: 2026-08 · Headline CPI change relative to the same month of the previous year (%) · U.S. Bureau of Labor Statistics · Published: 2026-09-11 · Headline year-on-year CPI-U, not seasonally adjusted; not monthly or core inflation.
- Unemployment
- % of the labour force; definition used by the stated institutionUnited States: 2025 · World Bank · ILO est.Cuba: 2025 · ILO modelled estimate; percentage of the labour force · World Bank · ILO est. · Annual World Bank observation, with its original year; not monthly data.
- Budget balance
- General government (% of GDP)United States: 2025 · IMF — World Economic Outlook · IMF est.
- Gross public debt
- General government (% of GDP)United States: 2025 · IMF — World Economic Outlook · IMF est.
- Current account balance
- % of GDPUnited States: 2025 · World Bank
- Population
- PeopleUnited States: 2025 · World BankCuba: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Area
- Total area in km²; territorial coverage of the sourceUnited States: 2023 · Total area including inland waters; territorial coverage of the source · World Bank · FAOCuba: 2023 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
United States to Cuba
| Product or sector | Value / share |
|---|---|
| Meat and edible offal | 339.9 M USD2025 · Source |
| Vehicles and components | 150.6 M USD2025 · Source |
| Dairy products, eggs and honey | 38.7 M USD2025 · Source |
| Machinery and mechanical appliances | 5.3 M USD2025 · Source |
| Electrical and electronic equipment | 3.8 M USD2025 · Source |
| Mineral fuels and oils | 0.312 M USD2025 · Source |
| Pharmaceutical products | 0.098 M USD2025 · Source |
Cuba to United States
| Product or sector | Value / share |
|---|---|
How trade has changed
Millions of current USD · full calendar years
View chart figures
| Period | Total | United States to Cuba | Cuba to United States |
|---|---|---|---|
| 2021 | 326.4 | 323.5 | 2.9 |
| 2022 | 377.3 | 371.7 | 5.6 |
| 2023 | 408.5 | 404.4 | 4.1 |
| 2024 | 591.4 | 586.5 | 4.9 |
| 2025 | 828.3 | 810.8 | 17.6 |
Connections between people
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from United States living in Cuba | ||
| Residents from Cuba living in United States | ||
| Study and training: United States in Cuba | ||
| Study and training: Cuba in United States | ||
| Academic stays: United States in Cuba | ||
| Academic stays: Cuba in United States | ||
| Travel: United States to Cuba | ||
| Travel: Cuba to United States |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
Bilateral context
After the 1898 war and the end of Spanish sovereignty, the United States occupied Cuba until May 1902. The US legation was established on 27 May that year. [1] [2] [3] [4]
Recent developments
Recent developments and latest available data · Review: 2026-10-08
Cooperation and bilateral issues
Washington had imposed a right of intervention enshrined in the Platt Amendment as a condition, eliminated through the Treaty of Relations of 1934. After the 1959 revolution, deteriorating ties led to the diplomatic rupture on 3 January 1961. From September 1977, a US interests section operated in Havana under Swiss protection. On July 20, 2015, both countries restored relations and elevated their interests sections to embassies, pursuant to the exchange of letters between Barack Obama and Raúl Castro. These are historical milestones in diplomatic ties, not a complete description of subsequent bilateral policy. [1] [2] [3] [4]
The embargo did not disappear with the embassies
OFAC explains that the Cuba embargo remains and most transactions between Cuba and the United States, or persons subject to US jurisdiction, are prohibited by the Cuban Assets Control Regulations. Continued diplomatic representation is therefore distinguished from general liberalization of economic exchanges. [2]
Business and investment with defined authorizations
OFAC question 758 states that people subject to US jurisdiction cannot do business or invest in Cuba without authorization. Licenses exist for certain exports authorized by the Commerce Department and certain business presences, subject to conditions. From 30 September 2026, exclusions relating to Cuba Restricted List entities also include certain indirect financial transactions. It is not an indiscriminate prohibition on all exchanges by anyone in the world. [3]
September 2026 change concerning professional meetings
Effective 30 September 2026, OFAC removed the earlier authorization to attend or organize professional meetings or conferences in Cuba. The provision envisages a limited transition period until 30 October for people already in Cuba under that authorization, provided they departed no later than that day, as well as cancellations and refunds. The earlier rule is not presented as remaining in force after the change. [4]
What merchandise trade shows
In 2025, merchandise trade between the two countries (United States and Cuba) totalled 828.3 million current USD. Shipments from the first to the second were 810.8 million; those in the opposite direction, 17.6 million. The difference between the two flows was 793.2 million, in favour of United States. This is a goods balance, not the total balance of the economic relationship: it excludes services, income and transfers. Both directions come from a single customs reporter to avoid adding mirror records. [5]
Five years of trade trends
The consistent series shows 326.4 million USD in 2021 and 828.3 million in 2025. The change between the two endpoints was +153.8 % in current dollars. The highest annual value in the period was recorded in 2025, at 828.3 million. The chart allows the two directions to be compared to see whether they moved together or differently. The change combines quantities, prices and exchange rates; it is not automatically attributed to a treaty, a visit or a political decision. The same reporter is retained and missing years are not interpolated. [5]
Documented trade sectors
Within the selected chapters, meat and edible offal stands out in shipments from United States to Cuba, at 339.9 million USD in 2025. The table compares eight selected chapters with the same coverage as the trade total. It is not a complete list or proof that the first item in this selection is the leading product across the entire relationship. A chapter groups numerous goods: machinery and components, for example, do not describe a single business transaction. [6]
Sources and data
Periods and scope of the figures
Institutional sources and periods accompany each figure. Annual trade, investment positions, residents and visits are distinct measures. Empty cells do not mean zero. Statements of intent are not presented as project implementation or treaties in force.
- Cuba — history of recognition and diplomatic relations with the United States
U.S. Department of State — Office of the Historian · Institutional source · Accessed: 2026-10-08
- FAQ837: Cuban embargo and2020 regulation changes
US Treasury / OFAC · Institutional source · Accessed: 2026-10-08
- FAQ758: Cuba business and investment restrictions
US Treasury / OFAC · Institutional source · Accessed: 2026-10-08
- FAQ1275: professional meetings changes effective30Sep2026
US Treasury / OFAC · Institutional source · Accessed: 2026-10-08
- UN Comtrade annual data; reused verified primary payload, not re-downloaded
UN Comtrade · Institutional source · Accessed: 2026-10-08
- Bounded matrix; reporter, partner, year, chapter and direction identified in each record
UN Comtrade · Institutional source · Accessed: 2026-10-08
Additional sources on products and human connections
- UN Comtrade
2026-10-08 · Accessed: 2026-10-08 · Bounded matrix; reporter, partner, year, chapter and direction identified in each record.