Filed under: Cigars
With 70 percent of the market – not including the United States – the Cuban cigar business is a global force. So, its financial performance has broad implications, and the data doesn't look good:
Export cigar sales plunged to $218 million last year from $243 million in 2008 ... but keep in mind that the effects of the late 2008 financial crisis didn't really come to bear until 2009.According to the most recent report released by the government's statistics office, the industry has fallen on hard times in recent years, with production of cigars for export down from 217m in 2006, to 123m in 2007 and 73m last year as the business drew on its inventory.
Of course, consumption in the United States is unchanged, because you can't go below zero. Nobody smokes Cuban cigars in the United States because they're illegal ... right?
Gallery: La Casa del Habano, St Barths