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Under Venezuela's Mission Barrio Adentro, Hugo Chávez has supplied Cuba with up to 80,000 barrels (13,000 m) of oil per day in exchange for 30,000 doctors and teachers.
In 2005 Cuba had exports of $2.4 billion, ranking 114 of 226 world countries, and imports of $6.9 billion, ranking 87 of 226 countries. Its major export partners are China 27.5%, Canada 26.9%, Netherlands 11.1%, Spain 4.7% (2007). Cuba's major exports are sugar, nickel, tobacco, fish, medical products, citrus, and coffee; imports include food, fuel, clothing, and machinery. Cuba presently holds debt in an amount estimated to be $13 billion, approximately 38% of GDP. According to the Heritage Foundation, Cuba is dependent on credit accounts that rotate from country to country. Cuba's prior 35% supply of the world's export market for sugar has declined to 10% due to a variety of factors, including a global sugar commodity price drop that made Cuba less competitive on world markets. At one time, Cuba was the world's most important sugar producer and exporter. As a result of diversification, underinvestment, and natural disasters, Cuba's sugar production has seen a drastic decline. In 2002 more than half of Cuba's sugar mills were shut down. Cuba holds 6.4% of the global market for nickel, which constitutes about 25% of total Cuban exports. A 2005 US Geological Survey report estimates that the North Cuba Basin could contain 4.6 billion barrels of oil and 9.8 trillion cubic feet of natural gas.
In 2010, Cubans were allowed to build their own houses. According to Raul Castro, they will be able to improve their houses with this new permission, but the government will not endorse these new houses or improvements.
On August 2, 2011, The New York Times reported Cuba as reaffirming their intent to legalize "buying and selling" of private property before the year ends. According to experts, the private sale of property could "transform Cuba more than any of the economic reforms
