Source: world bank Nominal/PPP
Summary:
Cuba GDP Per Capita expanded from 1970 to 2020, increasing from $5.69 to $107.35 .The compound annual growth rate (CAGR) averaged 6.05% over the period. The economy recorded its peak level in 2020 and its lowest level in 1970. Growth volatility remained high. The maximum drawdown reached 22.9%, indicating the largest cyclical decline from peak levels. The country experienced 4 recession episode(s) during the observed period.
Cuba Economic Phases (1970 - 2020)
From 1970 to 2020, Cuba economy moved through multiple cyclical phases marked by alternating periods of rapid expansion and contraction.
- High Growth (1971–1976) indicating robust economic expansion
- High Growth (1978–1979) indicating robust economic expansion
- Expansion (1980–1982) indicating steady moderate growth
- High Growth (1983–1984) indicating robust economic expansion
- High Growth (1994–1995) indicating robust economic expansion
- Expansion (1997–1998) indicating steady moderate growth
- High Growth (1999–2000) indicating robust economic expansion
- High Growth (2002–2007) indicating robust economic expansion
- Expansion (2008–2010) indicating steady moderate growth
- High Growth (2011–2013) indicating robust economic expansion
- Expansion (2018–2020) indicating steady moderate growth
The most remarkable growth occurred in 1994 with an increase of 27.187%, while the largest decline was in 1996 at -17.787%.