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Cuban cigar sales topped $531 million last year

Cuban cigar sales topped $531 million last year

Photo: www.habanos.com

The state monopoly Habanos S.A. announced $531 million last year, as the country’s annual cigar festival opened.

Spain, China, Germany and France were the strongest markets as sales increased 2% over 2018, the company said.

This was good news for the Caribbean island which is short of cash and under new U.S. sanctions aimed at further reducing its coffers.

Cuba was Habanos fifth market thanks to tourism, but domestic sales decreased slightly, Habanos President Luis Sanchez said, apparently due to tighter U.S. travel restrictions.

Americans can buy the “puros” to take home even though they are banned for sale in the United States.

Source: Reuters

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