Despite Nearing 70% Decrease In Visitor Arrivals, Cuba Increased 2021 Food/Ag Imports From United States By 86.5%- Ranking Cuba 53rd Of 2021 U.S. Food/Ag Export Markets.
/Given the Republic of Cuba's chronic shortage of foreign exchange, inability to remain current on sovereign debt, and routinely unable to pay as per contracted terms commercial debt owed by Republic of Cuba government-operated companies, there are an increasingly decreasing number of sources for credit. As a result, the Republic of Cuba has been forced to increase the percentage of purchases made with cash. Imports of agricultural commodities and food products from the United States are required by United States law to be paid for in cash; and shipping from the United States to the Republic of Cuba is from one to three days. For the Republic of Cuba, no longer is paying more for commodities solely due to the receipt of extended payment terms always a viable option- because the option is not available. At present, the less credit available to the Republic of Cuba inversely increases the value of exports from the United States to the Republic of Cuba, despite, for the Republic of Cuba, its dislike of the commercial, economic, and political laws, regulations, and policies of the United States. The current landscape is for United States companies neither viable nor preferred for the long term.
ECONOMIC EYE ON CUBA©
February 2022
December 2021 Food/Ag Exports To Cuba Increase 98.5%- 1
53rd Of 213 December 2021 U.S. Food/Ag Export Markets- 2
2020-To-2021 Exports Increase 86.5%- 2
For 2021 Cuba Ranked 53rd Of 2021 U.S. Ag/Food Export Markets- 2
December 2021 Healthcare Product Exports US$0.00- 2
December 2021 Humanitarian Donations US$1,242,356.00- 3
Obama Administration Initiatives Exports Continue- 3
U.S. Port Export Data- 16
DECEMBER 2021 FOOD/AG EXPORTS TO CUBA INCREASE 98.5%- Exports of food products and agricultural commodities from the United States to the Republic of Cuba in December 2021 were US$28,091,304 compared to US$14,145,158.00 in December 2020 and US$4,371,126.00 in December 2019.
December 2021 Exports Included: Chicken Leg Quarters (Frozen); Chicken Meat (Frozen); Chicken Legs (Frozen); Swine Meat; Woodpulp; Fruit Juices; Baby Food; Mixed Spices; Non-Alcoholic Beverages; Cream (10% Fat).
2021 exports were US$304,774,413.00 compared to 2020 exports of US$163,354,728.00.
Since December 2001, agricultural commodity and food product exports reported from the United States to the Republic of Cuba is US$6,601,001,837.00.
This report contains information on exports from the United States to the Republic of Cuba- products within the Trade Sanctions Reform and Export Enhancement Act (TSREEA) of 2000, Cuban Democracy Act (CDA) of 1992, and regulations implemented (1992 to present) for other products by the Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury and Bureau of Industry and Security (BIS) of the United States Department of Commerce.
The TSREEA re-authorized the direct commercial (on a cash basis) export of food products (including branded food products) and agricultural commodities from the United States to the Republic of Cuba, irrespective of purpose. The TSREEA does not include healthcare products, which remain authorized and regulated by the CDA.
Click here for a list of agricultural commodities eligible for export to Cuba under Section 902(1) of the Trade Sanctions Reform and Export Enhancement Act of 2000