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EDC Position-highly restricted select programs

EDC's Position

  • Reactive approach to business
  • Open on a highly restricted basis under all programs

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Country At A Glance

Flag of Cuba
Map of Cuba

Country Facts

Nominal GDP87.37 Billion USD
Population11.20 Million
Total Trade/GDP37.00%
CurrencyCuban Peso (CUP)
Merchandise Imports from Canada494.97 Million CAD
Main importsFuels, Food, Beverage & Tobacco, Machinery & Equipment, Chemicals

EDC in Cuba

Canadian companies assisted36
Business volume214.28 Million CAD

Business Environment

Canada has an established and stable trade relationship with Cuba. Cuba continues to move forward with a gradual economic liberalization strategy highlighted by the December 2014 announcement stating Cuba and the US’s intentions to normalize diplomatic relations. There have been immediate changes and economic benefits in terms of travel, remittances, and trade restrictions, but the US has yet to fully remove sanctions on the island, and the trade embargo remains firmly in place. Cuba also signed a historic agreement with Paris Club creditors in December 2015 resulting in billions of debt forgiveness. However, no short-term change is expected that would benefit Canadian exporters and investors; the business climate remains challenging.

Key Industries

  • Agriculture
  • Construction & Infrastructure
  • Consumer Goods
  • Machinery - Packaging, Industrial & Analytical Instruments
  • Services - Non-Industrial
  • Specialty Vehicle

How we can support your business

Through our Head Office operations in Ottawa, we provides support to Canadian companies planning on or currently doing business in Cuba.

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