United States is Now Cuba's Fifth Largest Import Source
In less than three years, the United States has become one of Cuba's largest trading partners and Cuba's largest source of agricultural and food products. In 2003, the United States was Cuba's seventh largest trading partner and Cuba's fifth largest source of imports. As recently as 2000, US exports to Cuba were negligible.
The reason for the jump can be attributed to the enactment of the Trade Sanctions Reform and Export Enhancement Act of 2000, which allowed food, agricultural and medical products to be exported to Cuba.
In 2003 Cuba imported more than 300 different US agricultural products, valued at $343.9 million. Soybeans, soy oil, corn, wheat, and rice were the largest exports from the United States to Cuba.
Cuba's largest import sources in 2003 were Venezuela, Spain, China, Italy and the United States. Cuba's ten largest trading partners in 2003 were Venezuela, Spain, China, Canada, the Netherlands, Italy, the United States, Mexico, France and Russia.
|posted by Douglas N. Jacobson| Permalink 
