A recent official report revealed that less food, but more cars, have been purchased from Cuba this year to the United States, despite the current food need.
A recent report from the US-Cuba Trade and Economic Council (CubaTrade) revealed that, as of August 2024, Cuba has invested more than $40 million in the acquisition of used cars, far exceeding the amount allocated to the purchase of foods, such as chicken.
According to the report, last August imports of used vehicles reached a value of $8,688,439, more than double what was recorded in July, which was $3,705,643. In total, these imports have totaled $43,275,516 so far this year.
“Vehicle sales to Cuba are one of the big stories of this year,” said John S. Kavulich, president of CubaTrade.
Cuba buys less food, but more cars from the United States
In contrast, purchases of food and agricultural products did not show a significant increase, going from $31,457,528 in July to $37,729,568 in August.
However, this figure represents a decrease of 5.4% compared to August 2023, when imports were $39,913,983.
In general, Cuba’s total imports from the United States between January and August 2024 reached $279,815,521, a figure that is lower than the same period in 2023, when $232,487,373 were recorded.
This report is based on data on exports of U.S. products to Cuba authorized under the Trade Sanctions Reform and Export Enhancement Act (TSREEA) of 2000, the Cuban Democracy Act (CDA) of 1992, and regulations of the Bureau of Foreign Assets Control (OFAC) of the US Department of the Treasury, as well as the Bureau of Industry and Security (BIS) of the Department of Commerce.
Since the beginning of exports under the TSREEA in December 2001, total sales have exceeded $7.526 million. This law allows the direct export of food and agricultural products to Cuba, as long as payment is made in cash.
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