LA HABANA, 12 Feb. (Reuters) - Agricultural exports from the U.S. to Cuba fell by 31 percent in 2010 to 366 million dollars (270 million euros), as reported by the Trade and Economic Council United States -Cuba through a statement. Cuba, which imports most of its food, the U.S. buys chicken, corn, soybeans, wheat and pork, among other products.
U.S. sales to the island have fallen by 48 percent after peaking in 2008 with $ 710 million (523.9 million euros). The Council noted that some of the reasons for the decline include lack of foreign currency by the Cuban and the importance of Cuba's relations with countries like Venezuela and China.
Cuba is in a liquidity crisis for over two years, which caused the country had to stop paying too much debt and froze bank accounts of thousands of Cuban foreign companies. Cuban President Raul Castro, enacted an austerity program that included cutting imports by one third and plans to cut more than a million state employees payroll.
United States runs a trade embargo, economic and financial blockade against Cuba since 1960, reaching nearly total since 1962. The only exceptions allowed are the same agricultural products and medicines. Despite the blockade, the United States was the fifth largest trading partner in 2009, when agricultural exports to Cuba amounted to $ 528 million (389.6 million euros).
The Council indicated that Cuba's inability to generate more political support in the United States in order to increase bilateral trade has discouraged the purchase of products to this country. Also pointed out that countries like Brazil, Argentina, Vietnam, Mexico, Canada, Russia and Iran are using credit to maintain or increase its trade with Cuba.
U.S. sales to the island have fallen by 48 percent after peaking in 2008 with $ 710 million (523.9 million euros). The Council noted that some of the reasons for the decline include lack of foreign currency by the Cuban and the importance of Cuba's relations with countries like Venezuela and China.
Cuba is in a liquidity crisis for over two years, which caused the country had to stop paying too much debt and froze bank accounts of thousands of Cuban foreign companies. Cuban President Raul Castro, enacted an austerity program that included cutting imports by one third and plans to cut more than a million state employees payroll.
United States runs a trade embargo, economic and financial blockade against Cuba since 1960, reaching nearly total since 1962. The only exceptions allowed are the same agricultural products and medicines. Despite the blockade, the United States was the fifth largest trading partner in 2009, when agricultural exports to Cuba amounted to $ 528 million (389.6 million euros).
The Council indicated that Cuba's inability to generate more political support in the United States in order to increase bilateral trade has discouraged the purchase of products to this country. Also pointed out that countries like Brazil, Argentina, Vietnam, Mexico, Canada, Russia and Iran are using credit to maintain or increase its trade with Cuba.
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