Yeah I also would love to know wtf happened. Good for 'em of course, but that shift seems more like a measurement methodology change than an economic growth.
Or just that a new method of getting around sanctions happened and their trade expanded dramatically, allowing the growth to be measurable.
20
TheLastHero [he/him] - 1.2yr
Sorry, this is not as good as you think. This increase is likely a combination of like 10% of the population emigrating in the past few years and a new flow of remittances from the United States (recently allowed under Biden). Cubans are going to the US and getting jobs to send money back to their families, giving a direly needed capital injection to the Cuban economy but also making them more reliant on the US.
Through the growth does seem improbably large even considering that, I think the world bank has trouble measuring semi socialist economies like Cuba
15
trashxeos - 1.2yr
It would be interesting to see this translated into GDP PPP but the last time it was published for Cuba was 2015 so it's a bit out of date. Even without PPP taken into account, that looks pretty solid.
9
Coco 📕 - 1.2yr
Here is another GDP
3
小莱卡 - 1.2yr
Aint no way thats true, i love cuba as much as the next guy but like is that even possible? This is a country with very few valuable natural resources, and i do not know any top tech industry from cuba.
Coco0330 in cuba
Cuba's GDP skyrocketed in 2021 and is now richer than some first-world countries.
400% increase in GDP in a year? This post is a joke, right?
What happened?
Yeah I also would love to know wtf happened. Good for 'em of course, but that shift seems more like a measurement methodology change than an economic growth.
Or just that a new method of getting around sanctions happened and their trade expanded dramatically, allowing the growth to be measurable.
Sorry, this is not as good as you think. This increase is likely a combination of like 10% of the population emigrating in the past few years and a new flow of remittances from the United States (recently allowed under Biden). Cubans are going to the US and getting jobs to send money back to their families, giving a direly needed capital injection to the Cuban economy but also making them more reliant on the US.
Through the growth does seem improbably large even considering that, I think the world bank has trouble measuring semi socialist economies like Cuba
It would be interesting to see this translated into GDP PPP but the last time it was published for Cuba was 2015 so it's a bit out of date. Even without PPP taken into account, that looks pretty solid.
Here is another GDP
Aint no way thats true, i love cuba as much as the next guy but like is that even possible? This is a country with very few valuable natural resources, and i do not know any top tech industry from cuba.