The Cuban economy is basically managed by the State sector. As a result of the economic changes in the 1900’s, new sectors of the economy like international tourism has become an important income earner for the country as well as the professional service industry in sectors like medicine and education that has been turned into key source of foreign currency income for the country.
Important sectors in the island’s agriculture are coffee, sugar cane and tobacco. Others like rum, cocoa, honey, citrus are also important.
Cuba has a number of mineral reserves like copper, nickel, magnesium, chrome and asphalt. The island have continued in its search for oil, whose national production level has reached half of the country’s demand (some 3 million tons), with perspectives of discovering new wells and reserve.
The biotechnology and pharmaceutical industry has turned into important exporting sectors for the country.