The Economy As A Whole Has A General Unemployment Ration Of 4.3 % Out Of A Labor Force

3100 WordsAug 18, 201513 Pages
REPUBLICA DE CUBA The economy as a whole has a general unemployment ration of 4.3% out of a labor force of 5.233 million. In 2013 the majority of the workers are in the state sector at 72.3%, and the rest in the non state sector at 27.7%. This is a change from 2011 when the majority of the workers were in the services at 63.2%. The other two sections split between agriculture at 19.7%, and industry at 17.1%. The industrial market consist of sugar, petroleum, tobacco, construction steel, cement, agricultural machinery, pharmaceuticals, and nickel. The natural resources are cobalt, nickel, iron ore, copper, manganese, salt, timber, silica, petroleum, and arable land. The agricultural market consist of sugar, tobacco, citrus, coffee, rice, potatoes, beans; livestock. The exports in 2013 were 6.252 billion consisting of sugar, nickel, tobacco, fish, medical products, citrus, and coffee while the exports were 13.6 billion importing things like petroleum, food, machinery and equipment, chemicals. In 2007-2012 they had 5 major export trading partners being the “Netherlands at 24.5%, Canada at 20%, China at 9.3%, Spain at 6.4%, and Venezuela at 4.9%”. There are 8 import countries are being “China at 13.4%, Venezuela at 13%, Spain at 12.6%, US at 7.7%, Canada 7.4%, Germany at 5.9 %, Italy at 5.1%, Mexico at 4.5%”. There are two official currencies in Cuba. They are the Cuban convertible peso (known as the Cuban dollar) and the peso. The convertible peso was introduced to reduce the
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