Source: world bank Nominal/PPP
Summary:
Cuba GDP Per Capita expanded from 1970 to 2017, increasing from $645.14 to $8,610.61 .The compound annual growth rate (CAGR) averaged 5.67% over the period. The economy recorded its peak level in 2017 and its lowest level in 1970. Growth volatility remained high. The maximum drawdown reached 24%, indicating the largest cyclical decline from peak levels. The country experienced 4 recession episode(s) during the observed period.
Cuba Economic Phases (1970 - 2017)
From 1970 to 2017, Cuba economy moved through multiple cyclical phases marked by alternating periods of rapid expansion and contraction.
- High Growth (1971–1975) indicating robust economic expansion
- Expansion (1976–1977) indicating steady moderate growth
- High Growth (1978–1979) indicating robust economic expansion
- Expansion (1980–1982) indicating steady moderate growth
- High Growth (1983–1984) indicating robust economic expansion
- Expansion (1986–1987) indicating steady moderate growth
- High Growth (1994–1995) indicating robust economic expansion
- Expansion (1997–1998) indicating steady moderate growth
- High Growth (1999–2000) indicating robust economic expansion
- High Growth (2002–2007) indicating robust economic expansion
- Expansion (2008–2010) indicating steady moderate growth
- High Growth (2011–2013) indicating robust economic expansion
- High Growth (2017–2017) indicating robust economic expansion
The most remarkable growth occurred in 1994 with an increase of 26.662%, while the largest decline was in 1996 at -18.061%.