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What is the main employment source in Cuba?
The Cuban labor force falls into three primary occupations by sector. The services sector, which includes all economic activities that do not produce material goods, employs almost three quarters (72%) of the total labor force.
What are the resources of Cuba?
Cuba’s natural resources include: cobalt, nickel, iron ore, chromium, copper, salt, timber, silica, and petroleum. The estimated population is a little over 11 million people.
What are the top 5 exports of Cuba?
Cuba mainly exports nickel, cane sugar, cigars, fuel, beverages, metallic ores, fish, cement, oil and thyroid extract. Cuba’s main exports partners are Venezuela, China, Canada, the Netherlands, Singapore, Spain, France, Ivory Coast, Brazil, Russia and Italy..
Which are the two most important crops for the Cuban economy?
The Cuban economy depends heavily on the sugarcane crop. Additionally, the chief crops are rice (the main source of calories in the traditional diet), citrus fruits (which are also an important export), potatoes, plantains and bananas, cassava (manioc), tomatoes and corn (maize). Other products include cacao and beans.
What kind of money does Cuba use?
Cuban peso
Cuba/Currencies
The Cuban Peso Nacional (CUP) is the national Cuban currency, used primarily by locals in Cuba. The exchange rate fluctuates but is typically around 25CUP per $1USD. It is helpful to exchange a little bit of your money into CUP.
What manufactures Cuba?
Cuba produces sugarcane, tobacco, citrus, coffee, rice, potatoes, beans and livestock.
Is Cuba a resource rich country?
Cuba is a sovereign country found in the northern Caribbean region. The Cuban government owns and operates most of the companies and resources in the country. Cuba has plenty of natural resources such as nickel, cobalt, petroleum, arable land, forests, incredible landscapes, and rich biodiversity.
What type of economy does Cuba have?
As a socialist economy, Cuba has a primarily planned economy with around 88% of its workforce working in state-owned enterprises, as of December 2017. 1 Cuba does not have a stock exchange; a crucial indicator of a capital-free economy.
What are Cuba’s main agricultural products?
Apart from sugarcane, the chief crops are rice (the main source of calories in the traditional diet), citrus fruits (which are also an important export), potatoes, plantains and bananas, cassava (manioc), tomatoes, and corn (maize).
What are the 3 basic questions that every economic system must answer?
Economic systems answer three basic questions: what will be produced, how will it be produced, and how will the output society produces be distributed?