Cuban Cigar Sales Increased to $401 Million in 2011

By Rosa Tania Valdes

HAVANA, Feb 27 (Reuters) - Cuban cigar sales jumped 9 percent to $401 million in 2011 as spending on luxury items increased in countries with stronger economies, Cuban cigar executives said on Monday.

They said smokers in China, the Middle East, Russia and Brazil helped overcome declining sales in economically troubled Spain and Greece. Still, Spain held on to its position as the top consumer of what are generally considered the world's best cigars.

"We are selling our products in 150 countries, which allows us to compensate to a certain degree for sales declines in some countries with increases in others," said Javier Terres, vice president of Habanos S.A., the worldwide distributor of Cuban cigars.

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