PRODUCT CLASSIFICATION
Rum is a distilled alcoholic beverage made by some sugarcane by-products like molasses or sugarcane juice; Tafia, on the other hand, is a rustic, less refined version of Rum often associated with a more artisanal production, but both of them are deeply rooted in the Caribbean culture and Cuba, specifically, is one of the most iconic suppliers of these drinks in the world.
While Cuban Rum is known for its smoothness, light body, balance and often used in classic cocktails like Mojitos and Daiquiri, Tafia is the reflection of the historical and raw essence of sugarcane distillation, but it’s less commercialized.
Rum and Tafia are a part of Hard Liquor, a category of the Foodstuffs section that includes a wide range of related by-products, for example Whiskies, Alcoholic liqueurs, Spirits obtained by distilling grape wine, grape marc and Gin and Geneva.
They also have a Product Complexity Index of -1.07, ranking 2420 out of 2913 products in 2023.
This post will not consider the Rum and Tafia trade in general, but it will be focused on the Cuban market, the sixth largest exporter of these products in the world.
EXPORT
In 2023 Cuba exported an amount of $96.6M worth of Rum and Tafia, becoming the 6th largest exporter of this category out of 163 countries in the world, with an estimated percentage of 5.48 of share in global exports; during the same year, Rum and Tafia were the 4th most exported product in Cuba out of 730.
The main destination of the country’s exports were
- Spain - $41.5M;
- Germany - $5.73M;
- France - $5.66M;
- Canada - $4.93M;
- United Kingdom - $4.7M.
IMPORT
In 2023 it was estimated that Cuba imported around $1.28M of Rum and Tafia, becoming the 86th largest importer of the product in the world out of 219 countries, with a 0.073% of
share in global imports; during the same year, Rum and Tafia were the 464th most imported product in the country out of 3209.
They were imported primarily from
- Spain - $771K;
- Brazil - $300K;
- Dominican Republic - $112K;
- Belgium - $79.4K;
- United Kingdom - $13.6K.
GROWTH POTENTIAL
According to the source, between 2022 and 2023 the fastest growing markets for the category’s imports and exports in Cuba were the following
MARKETS FOR RUM AND TAFIA EXPORTS
- Spain - $6.21M;
- Canada - $2.53M;
- France - $1.47M.
MARKETS FOR RUM AND TAFIA IMPORTS
- Spain - $738K;
- Dominican Republic - $83.4K;
- United Kingdom - $13.3K.
CONCLUSIONS
In 2023, Cuba’s Rum and Tafia trade lived a complex global situation, marked by many limitations and shifting consumer trends but, despite these challenges, the local production remained vibrant, with some brands gaining international recognition.
Also, Tafia attracted growing interest for its authenticity and cultural value.
To summarize, these products continue to represent a vital part of the country’s identity and offer a strong opportunity for future growth through tourism and heritage-driven trades.
Source: https://oec.world/en
