Cuba says exports of goods, services $9B in 2011

Posted on Tuesday, 04.17.12

Cuba says exports of goods, services $9B in 2011
The Associated Press

HAVANA -- Cuban exports of goods and services generated about $9 billion
in income in 2011, a senior government official said, as the island is
diversifying and relying less on established sectors such as nickel and
sugar.

Antonio Luis Carricarte Corona announced the new figures on Tuesday,
though there was some confusion about the number. Carricarte told
journalists the results represented a 20 percent increase over 2010
numbers, but figures published on the government statistics office Web
site put exports of goods and services for that year at more than $14
billion.

Cuba uses nonstandard accounting methods that take into account things
like the value of the brigades of doctors, technicians and advisers it
sends to countries such as Venezuela in a barter exchange in return for
oil and other goods. Still, the reason for the discrepancy between
Carricarte's numbers and those published on the government Web site was
not immediately clear. The government did not immediately respond to a
request for comment.

Carricarte singled out medicine sales, which made up 15 percent of
exports last year, as an area where the government envisions continued
growth.

Outside estimates offer different numbers. The CIA World Factbook put
Cuban exports at $4.7 billion last year, for example.

Carricarte also noted efforts to promote Cuba as a destination for
medical tourism.

"The prospects could be very big," he said.

Carricarte said nickel made up 30 percent of exports last year. Sugar,
which at one time accounted for 70 percent, is today just about 9 percent.

Carricarte said that services such as tourism, health care and computing
currently make up more than 70 percent of revenue.

http://www.miamiherald.com/2012/04/17/2753692/cuba-says-exports-of-goods-services.html