The Cuban economy is a mixed economy that combines elements of socialism and limited market reforms. It is primarily state-controlled, with the government owning most industries and resources. Key sectors include tourism, healthcare, and agriculture, with sugar and tobacco being significant exports. In recent years, Cuba has implemented some economic reforms to encourage private enterprise and foreign investment. However, the economy faces challenges such as a dual currency system, trade restrictions, and reliance on imports. These factors contribute to ongoing economic difficulties and a need for further reforms to stimulate growth and improve living standards.