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Cuba - Special Period
- Words:
- 1178
- Submitted:
- Mon Aug 18 2008
- Mark submitted by Author:
Have a little read: ... When the Soviet Union collapsed in 1990, the impact on the Cuban economy was devastating. Cuba lost approximately 80% of its imports, 80% of its exports and its Gross Domestic Product dropped by 34%. Along with food and medicines that were imported, 99% of the oil Cuba imported came from the USSR; Cuba's oil imports dropped to 10% of previous amounts in 1990. Before this, Cuba had been re-exporting any Soviet oil it did not consume to other nations for profit; this was Cuba's second largest export product before 1990. Once Soviet imports fell, Cuba faced a shortage of oil, resulting in a need to reduce domestic consumption by 20% over the course of two years. The effect was felt immediately; dependent on fossil fuels to operate, transportation, industrial and agricultural systems were paralysed. There were extensive losses of productivity in both Cuban agriculture; which was dominated by modern industrial
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