Cash-strapped Cuba says trade surplus doubled

[Judi Lynn]

Cash-strapped Cuba says trade surplus doubled
Fri Jan 7, 2011 10:23am EST

* Cuba reports 2010 trade surplus of $3.9 billion

* Export of services reached $9.4 billion

* Imports down 3.3 percent

By Marc Frank

HAVANA, Jan 7 (Reuters) - Cuba racked up a $3.9 billion trade surplus last year as President Raul Castro's efforts to cut imports and earn more abroad bore fruit for a second consecutive year, the government's statistics office reported on Friday.

The surplus was nearly twice the $2 billion reported in 2009 -- good news for Cuba but only a first step toward getting its debt-ridden economy out of the woods.

The country has been struggling with severe financial problems since 2008, when hurricanes, the international financial crisis and internal inefficiencies left it without funds to pay its bills.

The National Statistics Office reported on its web page, www.one.cu, that exports increased 12.9 percent to $13.6 billion in 2010, led by the selling of services at $9.4 billion. Imports fell 3.3 percent to $9 billion.

More:
http://www.reuters.com/article/idUSN0721538620110107?rpc=401

[social_critic]

1. Venezuelan subsidies really help, don't they?

I didn't realize they were charging so much for their services to Venezuela. Now they need to pay up their overdue bills, and continue with their planned change to capitalism.

[silverweb]

2. That's good news!

n/t