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North America > Bermuda > Economy

BERMUDIAN ECONOMY STATS:   Top Stats   All Stats  
View this page with:    Just Stats   Sources   Definitions   Both  
Adjusted savings: consumption of fixed capital > % of GNI 14.24 % of GNI Time series [22nd of 181]
Agriculture > products
bananas, vegetables, citrus, flowers; dairy products
Aid > % of GNI -0.36 % of GNI Time series [151st of 155]
Aid per capita > current US$ 1.43 $ Time series [154th of 169]
Budget > Expenditures $574,600,000.00 Time series [131st of 165]
    Budget > Expenditures (per $ GDP) $0.25 per $1 of GDP Time series [99th of 155]
    Budget > Expenditures (per capita) $9,114.85 per capita Time series [20th of 164]
Budget > Expenditures > Capital $54,800,000.00 Time series [57th of 68]
    Budget > Expenditures > Capital (per $ GDP) $23.52 per 1,000 $ of GDP Time series [48th of 67]
    Budget > Expenditures > Capital (per capita) $869.29 per capita Time series [8th of 68]
Budget > Revenues $609,500,000.00 Time series [128th of 166]
    Budget > Revenues (per $ GDP) $0.26 per $1 of GDP Time series [76th of 157]
    Budget > Revenues (per capita) $9,668.46 per capita Time series [21st of 165]
Currency Bermudian dollar Time series
Currency code BMD Time series
Debt > External $145,000,000.00 Time series [118th of 136]
    Debt > External (per $ GDP) $62.23 per 1,000 $ of GDP Time series [118th of 125]
    Debt > External (per capita) $2,300.13 per capita Time series [35th of 136]
Economic aid > Recipient $90,000.00 Time series [57th of 134]
Economy > Overview
Bermuda enjoys the third highest per capita income in the world, more than 50% higher than that of the US. Its economy is primarily based on providing financial services for international business and luxury facilities for tourists. A number of reinsurance companies relocated to the island following the 11 September 2001 attacks and again after Hurricane Katrina in August 2005, contributing to the expansion of an already robust international business sector. Bermuda's tourism industry - which derives over 80% of its visitors from the US - continues to struggle but remains the island's number two industry. Most capital equipment and food must be imported. Bermuda's industrial sector is small, although construction continues to be important; the average cost of a house in June 2003 had risen to $976,000. Agriculture is limited with only 20% of the land being arable.
Exchange rates
Bermudian dollar per US dollar - 1.0000 (fixed rate pegged to the US dollar)
Exchange rates > Recent years
Bermudian dollar per US dollar - 1.0000 (fixed rate pegged to the US dollar)
Exports $763,000,000.00 Time series [145th of 189]
    Exports (per $ GDP) $0.39 per $1 of GDP Time series [50th of 173]
    Exports (per capita) $11,959.25 per capita Time series [23rd of 186]
Exports > Commodities
reexports of pharmaceuticals
Exports > Partners
Spain 13.8%, Germany 11.7%, Switzerland 8.8%, Denmark 6.6%, UK 6%
Exports to US $3,400,000.00 [153rd of 224]
    Exports to US (per $ GDP) $0.15 per $100 [131st of 213]
    Exports to US (per capita) $52.02 per person [72nd of 211]
external debt > Date of information FY99/00
Fiscal year 1 April - 31 March Time series
GDP $2,330,000,000.00 Time series [152nd of 203]
    GDP (per capita) $36,960.66 per capita Time series [8th of 201]
GDP (purchasing power parity) $4,500,000,000.00 Time series [3rd of 187]
    GDP (purchasing power parity) (per capita) $71,067.59 per capita Time series [1st of 186]
GDP > CIA Factbook $2,330,000,000.00 Time series [166th of 192]
    GDP > CIA Factbook (per capita) $36,960.66 per capita Time series [4th of 183]
GDP > Composition by sector > Agriculture 1% Time series [52nd of 146]
GDP > Composition by sector > Industry 10% Time series [53rd of 146]
GDP > Composition by sector > Services 89% Time series [2nd of 146]
GDP > constant LCU 574370100 Time series
GDP > current LCU 2252641000 Time series
GDP > Real growth rate 4.6% Time series [4th of 198]
GDP deflator 392.19 Time series [26th of 188]
GDP growth > annual % 3.1 annual % Time series [125th of 187]
GDP per capita > constant LCU 9283.19 Time series
GDP per capita growth > annual % 2.96 annual % Time series [84th of 183]
GNI > current LCU 2255158000 Time series
GNI > current US$ 2,255,158,000 $ Time series [132nd of 183]
    GNI > current US$ (per $ GDP) 1.001 $ per $1 of GDP Time series [48th of 194]
    GNI > current US$ (per capita) 36,448.742 $ per capita Time series [3rd of 196]
GNI, Atlas method > current US$ 2,226,660,000 $ Time series [132nd of 180]
    GNI, Atlas method > current US$ (per $ GDP) 0.988 $ per $1 of GDP Time series [98th of 191]
    GNI, Atlas method > current US$ (per capita) 35,988.146 $ per capita Time series [5th of 191]
Imports $1,162,000,000.00 Time series [150th of 185]
    Imports (per $ GDP) $2.45 per $1 of GDP Time series [2nd of 168]
    Imports (per capita) $18,213.17 per capita Time series [10th of 185]
Imports > Commodities
clothing, fuels, machinery and transport equipment, construction materials, chemicals, food and live animals
Imports > Partners
South Korea 36.4%, US 15.7%, Germany 13.2%, Italy 11.8%
Imports from US $83,600,000.00 [76th of 224]
    Imports from US (per $ GDP) $3.59 per $100 [16th of 213]
    Imports from US (per capita) $1,278.97 per person [3rd of 211]
Industries
international business, tourism, light manufacturing
Inflation rate (consumer prices) 2.8% Time series [128th of 192]
Inflation, GDP deflator > annual % 2.13 annual % Time series [132nd of 186]
International tourism, expenditures > current US$ 294,000,000 $ Time series [77th of 138]
    International tourism, expenditures > current US$ (per $ GDP) 107.873 $ per $1,000 of GDP Time series [2nd of 157]
    International tourism, expenditures > current US$ (per capita) 4,648.613 $ per capita Time series [1st of 157]
International tourism, number of arrivals 270,000 Time series [104th of 190]
International tourism, number of departures 161,000 Time series [66th of 103]
International tourism, receipts > current US$ 393,000,000 $ Time series [88th of 148]
    International tourism, receipts > current US$ (per $ GDP) 212.195 $ per $1,000 of GDP Time series [10th of 160]
    International tourism, receipts > current US$ (per capita) 6,213.962 $ per capita Time series [5th of 164]
Listed domestic companies 22 Time series [91st of 111]
    Listed domestic companies (per capita) 347.855 per 1 million people Time series [1st of 119]
Market capitalization of listed companies > current US$ 2,124,780,000 $ Time series [89th of 110]
    Market capitalization of listed companies > current US$ (per $ GDP) 626.376 $ per $1,000 of GDP Time series [18th of 117]
    Market capitalization of listed companies > current US$ (per capita) 33,596.191 $ per capita Time series [18th of 119]
Market value of publicly traded shares $2,125,000,000.00 Time series [37th of 58]
    Market value of publicly traded shares (per capita) $33,427.72 per capita Time series [16th of 58]
Merchandise exports > current US$ 24,000,000 $ Time series [183rd of 193]
    Merchandise exports > current US$ (per $ GDP) 0.025 $ per $1,000 of GDP Time series [183rd of 187]
    Merchandise exports > current US$ (per capita) 379.479 $ per capita Time series [118th of 193]
Merchandise imports > current US$ 963,000,000 $ Time series [152nd of 192]
    Merchandise imports > current US$ (per $ GDP) 0.275 $ per $1 of GDP Time series [117th of 187]
    Merchandise imports > current US$ (per capita) 15,226.58 $ per capita Time series [12th of 192]
Merchandise trade > % of GDP 30.01 % Time series [163rd of 183]
Micro, small and medium enterprises > number 4,519 Time series [28th of 29]
    Micro, small and medium enterprises > number (per capita) 71.71 per 1,000 people Time series [8th of 115]
Micro, small and medium enterprises > per 1,000 people 71.71 per 1,000 people Time series [5th of 29]
Net income from abroad > constant LCU 639187 Time series
Net income from abroad > current LCU 2516687 Time series
Net income from abroad > current US$ 2,516,687 $ Time series [43rd of 180]
    Net income from abroad > current US$ (per $ GDP) 1.117 $ per $1,000 of GDP Time series [47th of 191]
    Net income from abroad > current US$ (per capita) 40.676 $ per 1,000 people Time series [29th of 191]
Official development assistance and official aid > current US$ 90,000 $ Time series [166th of 172]
    Official development assistance and official aid > current US$ (per $ GDP) -3.649 $ per $1 million of GDP Time series [165th of 168]
    Official development assistance and official aid > current US$ (per capita) 1.428 $ per 1,000 people Time series [155th of 173]
Population below poverty line 19% Time series [13th of 46]
Research and development expenditure > % of GDP 0.08 % Time series [69th of 80]
Stock exchange
Bermuda Stock Exchange
Stocks traded, total value > current US$ 74,040,000 $ Time series [85th of 108]
    Stocks traded, total value > current US$ (per $ GDP) 42.617 $ per $1,000 of GDP Time series [53rd of 112]
    Stocks traded, total value > current US$ (per capita) 1,170.692 $ per capita Time series [40th of 112]
Stocks traded, turnover ratio > % 3.72 % Time series [84th of 107]
Tourism receipts, international $393,000,000.00 Time series [102nd of 187]
    Tourism receipts, international (per $ GDP) $146.78 per $1,000 of GDP Time series [26th of 180]
    Tourism receipts, international (per capita) $6,182.16 per capita Time series [8th of 184]
Tourist arrivals by region of origin > Americas 232,661 Time series [60th of 191]
Tourist arrivals by region of origin > Asia, East and South East/Oceania 639 Time series [156th of 172]
Tourist arrivals by region of origin > Europe 26,678 Time series [140th of 195]
Tourist arrivals by region of origin > Region not specified 9,613 Time series [61st of 151]
Tourist arrivals by region of origin > Total 269,591 Time series [128th of 198]
Trade balance with US $80,200,000.00 [19th of 224]
    Trade balance with US (per $ GDP) $3.44 per $100 [7th of 213]
    Trade balance with US (per capita) $1,226.96 per person [2nd of 211]
Trade in goods 30.01 [151st of 169]
Trade with US > US exports of agric farming-unmanufactured 331 [96th of 181]
Trade with US > US exports of agric industry-unmanufactured 102 [113rd of 183]
Trade with US > US exports of agricultural machinery, equipment 328 [120th of 188]
Trade with US > US exports of agriculture-manufactured, other 9 [134th of 167]
Trade with US > US exports of alcoholic beverages, excluding wine 488 [64th of 146]
Trade with US > US exports of aluminum and alumina 32 [93rd of 159]
Trade with US > US exports of animal feeds, nec 1,757 [65th of 168]
Trade with US > US exports of apparel, household goods > textile 4,969 [49th of 202]
Trade with US > US exports of apparel,household goods-nontextile 2,144 [57th of 196]
Trade with US > US exports of artwork, antiques, stamps, etc 1,664 [49th of 184]
Trade with US > US exports of automotive tires and tubes 550 [68th of 174]
Trade with US > US exports of bakery products 4,558 [40th of 183]
Trade with US > US exports of books, printed matter 5,255 [40th of 206]
Trade with US > US exports of business machines and equipment 4,278 [52nd of 194]
Trade with US > US exports of chemicals-fertilizers 517 [74th of 171]
Trade with US > US exports of chemicals-inorganic 232 [104th of 192]
Trade with US > US exports of chemicals-organic 231 [110th of 192]
Trade with US > US exports of chemicals-other 6,223 [65th of 206]
Trade with US > US exports of civilian aircraft 89,750 [34th of 161]
Trade with US > US exports of coal and fuels, other 107 [54th of 112]
Trade with US > US exports of commercial vessels, other 337 [45th of 155]
Trade with US > US exports of computer accessories 11,696 [67th of 211]
Trade with US > US exports of computers 9,110 [64th of 206]
Trade with US > US exports of cookware, cutlery, tools 1,133 [46th of 184]
Trade with US > US exports of copper 0 [137th of 138]
Trade with US > US exports of corn 55 [120th of 171]
Trade with US > US exports of cotton fiber cloth 129 [96th of 182]
Trade with US > US exports of dairy products and eggs 2,327 [45th of 162]
Trade with US > US exports of drilling & oilfield equipment 582 [117th of 194]
Trade with US > US exports of electric apparatus 5,559 [80th of 207]
Trade with US > US exports of engines-civilian aircraft 172 [110th of 178]
Trade with US > US exports of excavating machinery 2,108 [88th of 198]
Trade with US > US exports of finished metal shapes 13,523 [48th of 204]
Trade with US > US exports of finished textile supplies 379 [83rd of 197]
Trade with US > US exports of fish and shellfish 6,314 [30th of 169]
Trade with US > US exports of food, tobacco machinery 1,254 [72nd of 202]
Trade with US > US exports of fruits, frozen juices 4,922 [48th of 178]
Trade with US > US exports of fuel oil 1,672 [44th of 124]
Trade with US > US exports of furniture, household goods, etc 13,378 [17th of 202]
Trade with US > US exports of gem diamonds 778 [41st of 121]
Trade with US > US exports of generators, accessories 2,354 [79th of 202]
Trade with US > US exports of glass-plate, sheet, etc 448 [61st of 163]
Trade with US > US exports of glassware, chinaware 347 [59th of 169]
Trade with US > US exports of hair, waste materials 9 [116th of 169]
Trade with US > US exports of hides and skins 0 [109th of 110]
Trade with US > US exports of household appliances 7,876 [52nd of 202]
Trade with US > US exports of industrial engines 1,061 [101st of 207]
Trade with US > US exports of industrial machines, other 2,649 [96th of 213]
Trade with US > US exports of industrial rubber products 107 [103rd of 185]
Trade with US > US exports of jewelry, etc 8,067 [42nd of 184]
Trade with US > US exports of laboratory testing instruments 642 [96th of 206]
Trade with US > US exports of leather and furs 69 [56th of 129]
Trade with US > US exports of logs and lumber 4,103 [48th of 178]
Trade with US > US exports of manmade cloth 62 [128th of 182]
Trade with US > US exports of marine engines, parts 147 [96th of 190]
Trade with US > US exports of materials handling equipment 4,917 [68th of 202]
Trade with US > US exports of measuring, testing, control instruments 2,306 [93rd of 209]
Trade with US > US exports of meat, poultry, etc 15,597 [27th of 190]
Trade with US > US exports of medicinal equipment 5,860 [65th of 209]
Trade with US > US exports of metallurgical grade coal 0 [73rd of 73]
Trade with US > US exports of metalworking machine tools 624 [87th of 197]
Trade with US > US exports of military apparel and footwear 19 [89th of 148]
Trade with US > US exports of mineral supplies-manufactured 474 [84th of 181]
Trade with US > US exports of minimum value shipments 51,426 [48th of 210]
Trade with US > US exports of musical instruments 615 [66th of 191]
Trade with US > US exports of natural gas liquids 0 [115th of 116]
Trade with US > US exports of newsprint 3,719 [64th of 195]
Trade with US > US exports of nonagricultural foods, etc 62 [97th of 163]
Trade with US > US exports of nonfarm tractors and parts 136 [104th of 170]
Trade with US > US exports of nonferrous metals, other 0 [155th of 155]
Trade with US > US exports of nonmetallic minerals 169 [73rd of 156]
Trade with US > US exports of nonmonetary gold 179 [37th of 97]
Trade with US > US exports of nontextile floor tiles 795 [31st of 159]
Trade with US > US exports of nuclear fuel materials 0 [132nd of 132]
Trade with US > US exports of numismatic coins 25 [41st of 94]
Trade with US > US exports of nursery stock, etc 82 [45th of 121]
Trade with US > US exports of nuts 260 [86th of 156]
Trade with US > US exports of oilseeds, food oils 834 [75th of 175]
Trade with US > US exports of other foods 10,024 [52nd of 206]
Trade with US > US exports of other household goods 20,046 [47th of 209]
Trade with US > US exports of other industrial supplies 3,074 [74th of 209]
Trade with US > US exports of parts for military-type goods 5 [137th of 178]
Trade with US > US exports of parts-civilian aircraft 99 [154th of 206]
Trade with US > US exports of petroleum products, other 9,129 [55th of 191]
Trade with US > US exports of pharmaceutical preparations 9,391 [71st of 207]
Trade with US > US exports of photo, service industry machinery 5,525 [71st of 210]
Trade with US > US exports of plastic materials 758 [106th of 207]
Trade with US > US exports of pleasure boats and motors 9,394 [25th of 187]
Trade with US > US exports of precious metals, other 21 [78th of 113]
Trade with US > US exports of pulp and paper machinery 886 [82nd of 195]
Trade with US > US exports of pulpwood and woodpulp 8 [102nd of 143]
Trade with US > US exports of railway transportation equipment 117 [93rd of 171]
Trade with US > US exports of records, tapes, and disks 4,971 [42nd of 199]
Trade with US > US exports of rice 583 [69th of 173]
Trade with US > US exports of rugs 1,951 [26th of 174]
Trade with US > US exports of semiconductors 756 [92nd of 199]
Trade with US > US exports of shingles, molding, wallboard 8,625 [32nd of 195]
Trade with US > US exports of sorghum, barley, oats 80 [46th of 101]
Trade with US > US exports of spacecraft, excluding military 100 [17th of 56]
Trade with US > US exports of specialized mining 61 [90th of 160]
Trade with US > US exports of sports apparel and gear 2,862 [18th of 185]
Trade with US > US exports of steelmaking materials 49 [75th of 127]
Trade with US > US exports of stereo equipment, etc 830 [69th of 188]
Trade with US > US exports of synthetic rubber-primary 3 [110th of 147]
Trade with US > US exports of tapes, audio and visual 619 [48th of 173]
Trade with US > US exports of telecommunications equipment 17,057 [73rd of 211]
Trade with US > US exports of textile, sewing machines 255 [97th of 183]
Trade with US > US exports of tobacco, manufactured 825 [47th of 154]
Trade with US > US exports of tobacco, unmanufactured 0 [112nd of 112]
Trade with US > US exports of toiletries and cosmetics 4,395 [64th of 197]
Trade with US > US exports of toysgamessporting goods 3,383 [67th of 207]
Trade with US > US exports of tvs, vcrs, etc 9,396 [27th of 196]
Trade with US > US exports of vegetables 10,176 [21st of 194]
Trade with US > US exports of vessels, excluding scrap 0 [106th of 106]
Trade with US > US exports of wheat 63 [111st of 153]
Trade with US > US exports of wine and related products 3,095 [28th of 153]
Trade with US > US exports of wood supplies, manufactured 1,882 [21st of 170]
Trade with US > US exports of wood, glass, plastic 936 [68th of 187]
Trade with US > US exports of writing and art supplies 5,459 [51st of 203]
Trade with US > US imports of agricultural machinery and equipment 3 [86th of 112]
Trade with US > US imports of apparel and household goods-cotton 1 [174th of 195]
Trade with US > US imports of apparel and household goods-wool 0 [156th of 155]
Trade with US > US imports of computers 40 [58th of 167]
Trade with US > US imports of engines and engine parts 0 [136th of 135]
Trade with US > US imports of feedstuff and foodgrains 263 [43rd of 115]
Trade with US > US imports of furniture, household items, baskets 9 [131st of 183]
Trade with US > US imports of generators, transformers, and accessories 6 [104th of 159]
Trade with US > US imports of glassware, porcelain, and chinaware 2 [100th of 125]
Trade with US > US imports of industrial inorganic chemicals 0 [110th of 111]
Trade with US > US imports of iron and steel manufactures-advanced 0 [139th of 140]
Trade with US > US imports of jewelry watches, rings, etc 14 [105th of 159]
Trade with US > US imports of liquified petroleum gases 0 [66th of 66]
Trade with US > US imports of marine engines and parts 0 [98th of 98]
Trade with US > US imports of materials handling equipment 186 [60th of 134]
Trade with US > US imports of minimum value shipments 2,959 [76th of 208]
Trade with US > US imports of miscellaneous nonferrous metals 0 [95th of 95]
Trade with US > US imports of nonfarm tractors and parts 0 [94th of 95]
Trade with US > US imports of nonmonetary gold 3 [61st of 93]
Trade with US > US imports of numismatic coins 21 [47th of 151]
Trade with US > US imports of other industrial machinery 0 [173rd of 174]
Trade with US > US imports of other materials, except chemicals 0 [115th of 117]
Trade with US > US imports of other parts and accessories 4 [129th of 167]
Trade with US > US imports of other precious metals 0 [84th of 84]
Trade with US > US imports of parts for civilian aircraft 0 [135th of 135]
Trade with US > US imports of photographic and optical equipment 3 [74th of 106]
Trade with US > US imports of plastic materials 0 [135th of 136]
Trade with US > US imports of pleasure boats and motors 1 [77th of 108]
Trade with US > US imports of pulp and paper machinery 14 [74th of 119]
Trade with US > US imports of records, tapes, and disks 6 [83rd of 140]
Trade with US > US imports of semiconductors and related devices 0 [175th of 175]
Trade with US > US imports of telecommunications equipment 14 [122nd of 179]
Trade with US > US imports of toiletries and cosmetics 59 [86th of 143]
Trade with US > US imports of wine and related products 0 [115th of 115]
Transnational corporations > Affiliates 147 [73rd of 162]
    Transnational corporations > Affiliates (per capita) 2,248.91 per 1 million people [7th of 162]

SOURCES: World Development Indicators database; CIA World Factbook, 28 July 2005; All CIA World Factbooks 18 December 2003 to 18 December 2008; CIA World Factbook, 22 August 2006 ; US Census Bureau; Wikipedia: List of countries by external debt ; World Development Indicators database and CIA World Factbook; Global Edge; Source: World Tourism Organization Statistics Database and Yearbook | United Nations World Tourism Organization; ; FTDWebMaster, Foreign Trade Division, U.S. Census Bureau; World Investment Report 2001, United Nations Conference on Trade and Development (UNCTAD)

ALTERNATIVE NAMES: Bermuda

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COMMENTARY     

estaban
2nd December 2004 		IS THEIR ANY WORKING HOLIDAYS IN BERMUDA OR WORK RESTICTIONS FOR EMPLOYMENT

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