CUBA'S ANNUAL RATE OF GROWTH PLACED AT NINE PER CENT ~
The October 18 issue of the Mexico City publication El Correo Economico reports that its correspondent in Geneva succeeded in obtaining an advance copy ofa report on the Cuban economy prepared by the United Nations Economic Commission for Latin America, The report was prepared by UN technicians who went expressly to Cuba for the purpose, .
Their figures show that the annual rate of growth in gross production for the two years under study averaged out at 9%, a remarkable achievement, particularly under the difficult conditions of economic blockade, diplomatic assault and armed invasion suffered by the small country at the hands of the mightiest imperialist power in the world, . The rate of growth reached 9, 56 3 in.1962, then dipped to 8, 4%, in 1963. The drop was ascribed mainly to the effects of hurricane Flora,’ _
The report nated a persistent decline in sugar production, This was held to be due to a reduction in the acreage planted to sugar cane anda drap in the yield per acre due to unfavorable. weather conditions.
Sugar exports, which amounted to 6,4 million tons in 1961, dropped to 3.3 million tons in 1963, In total Sales, sugar accounted for 85.0% in 1941 and 88,9% in 1963. os
- Outside of sugar, growth was registered in truck gardening (170, 1%), roots and tubers (40.4%), ahd” grains (15.1%).
Industry (outside of sugar ) showed ‘a rate of growth of 7. 7%, in the period 1961-63. Investments doubled during the period under study. ee / oe
The ‘pranches ‘of industry showing’ the highest annual rates of growth were chemicals, 16.3%; textiles, 11%; mining, 6.7%; oil, 9.9%3 and electricity. 5.7%.
The rate of growth in commerce (an increase of 34. 6% in 1962 and 29% in 1963) was ascribed .to the swift rise in mass | purchasing power as a result of the Revolution, :
The report notes the major shift in the direction of Cuban exports and imports as a result of the Revolution. In 1958, 66% of Cuba's exports went to the United States, while 69.8% of Cuba's imports came from there. In 1963, 65.8% of Cuba's exports went to countries having planned economies while 82.5% of Cuba's imports came from this area,
Cubats trade with Western Europe, which reached a low point
in 1962, rose to 18.2% in 1963. co a:
~ A change in the character of Cuba's imports was noted. In 1966 consumerst goods amounted to 40.5% of the total; in. 1963 this — category amounted to 25.1%... The importation of luxury, goods has ceased; and the importation of hard consumers! goods, which reached 10.6% in 1956, has practically been cut off. On the other hand, the importation of capital goods rose from 21, o% in 1956 to 34.24 in 1962.
The following table, published by El Correo Heonomico, sum marizes Some of the essential figures of the report:
CUBA: MATERIAL PRODUCTION
. . Millions of Pesos . Annual rate of owth Sectors WE LS SSC GG TED 1OGELES TUS TNOS
Agriculture livestock (a) 466.0 496.0 ° 496.8 6.4. 0.2 32 Industrial (b) 810.8 902.5 939.8 11.3 4.1 7.7 Construction 196.5 207.2 207.0 5.4 - 0,1 - 2.6 Transport and # communication. -256.4(c) 229.7 236.5 . -10.4 3.0. = 4.0 Others 53.1 56.0 5.5 Subtotal 1,729.7 1,888.5 1,936.1 9.2 2.5 5.8 Sugar 407.9 _ 304.7 _ 276.8 25.3 -9.2 -17.6 Subtotal 2,137.6 2,193.2 2,212.9 2.6 0.9 “17
Commerce 594.0 799.4 1,031.3 34.6 29.0 31.8 TOTAL 2,731.6 2,992.6 3,244.2 9.6 8.4 920
SOURCE: JUCEPLAN
(a) Excluding sugar cane agriculture. (bd) Excluding the sugar industry.. Tneluding mining and. power, (c) Distributed in other branches,
me Jew: