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The Cuban sugar economy is the principal agricultural economy in Cuba. Historically, the Cuban economy relied heavily on sugar exports, but sugar production has declined since the breakup of the Soviet Union in 1991. [1] In 2015, raw sugar accounted for $368 million of Cuba's $1.4 billion exports. [2]
Until the 1960s, the US received 33% of its sugarcane imports from Cuba. During the cold war, Cuba's sugar exports were bought with subsidies from the Soviet Union. After the collapse of this trade arrangement, coinciding with a collapse in sugar prices, two thirds of sugar mills in Cuba closed. 100,000 workers lost their jobs. [20]
Cuba's agricultural economy centered primarily on the sugar industry, serving as the cornerstone of the nation's exports. U.S. influence, particularly from companies like the United Fruit Company , was pervasive, with significant investments in large-scale sugar plantations and the production and export of sugar and tropical fruits to the ...
Exports from U.S. to Cuba in December jumped from November. For premium support please call: 800-290-4726 more ways to reach us
From the 1750s to 1800s, Cuba's agriculture was dominated by the plantation system which constituted the economy solely to the exports of sugar, tobacco and coffee. These commodities ran Cuba's economy for more than 150 years, until January 1959 with the Communist Revolution. (Burchardt).
Print/export Download as PDF; Printable version; In other projects ... Pages in category "Sugar industry of Cuba" The following 12 pages are in this category, out of ...
A year later, Cuba's sugar quota was reduced to zero when President Eisenhower issued Proclamation 3383. [93] This substantially affected Cuba's total exports, as Cuba was one of the world's leading sugar exporters at the time. [93] In 1989, with the collapse of the Soviet bloc, Cuba witnessed its most devastating economic crises.
The country's economy had grown rapidly in the early part of the century, fueled by the sale of sugar to the United States. [ 35 ] Before the Cuban Revolution , in 1958, Cuba had a per-capita GDP of $2,363, which placed it in the middle of Latin American countries. [ 36 ]