Economy - overview:
Despite four years of recession and a public debt of $1.4 billion, Bermuda enjoys the fourth highest per capita income in the world, about 70% higher than that of the US. The average cost of a single-family home in 2012 was $1.1 million. Its economy is primarily based on international business and the provision of financial services to that sector, and to a lesser extent tourism. A number of reinsurance companies relocated to the island following the 11 September 2001 attacks on the US and again after Hurricanes Katrina, Rita, and Wilma in 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 and has dropped in its relevant importance to the economy, although it is still important as a job creator. Bermuda must import almost everything. Agriculture is limited due to the small size of the island and Bermuda's industrial sector is small.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition, by end use: GDP - composition, by sector of origin: Agriculture - products: Industries: Industrial production growth rate: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Fiscal year: Inflation rate (consumer prices): Market value of publicly traded shares: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: 1) The information regarding Bermuda on this page is re-published from the 2014 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Bermuda Economy 2014 information contained here. All suggestions for corrections of any errors about Bermuda Economy 2014 should be addressed to the CIA.
$5.6 billion (2011 est.)
country comparison to the world: 168
[see also: GDP country ranks ]
$5.6 billion (2011)
[see also: GDP (official exchange rate) country ranks ]
-3.5% (2011)
country comparison to the world: 215
[see also: GDP - real growth rate country ranks ]
$86,000 (2011 est.)
country comparison to the world: 3
[see also: GDP - per capita country ranks ]
household consumption: 33.6%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption:
15.9%
investment in fixed capital:
24.6%
investment in inventories:
0%
exports of goods and services:
68.1%
imports of goods and services:
-42.2%
agriculture: 0.7%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry:
5.6%
services:
93.7% (2012 est.)
bananas, vegetables, citrus, flowers; dairy products, honey
international business, tourism, light manufacturing
NA%
[see also: Industrial production growth rate country ranks ]
37,400 (2011)
country comparison to the world: 200
[see also: Labor force country ranks ]
agriculture and fishing: 3%
laborers:
17%
clerical:
19%
professional and technical:
21%
administrative and managerial:
15%
sales:
7%
services:
19% (2004 est.)
8% (2012 est.)
country comparison to the world: 90
[see also: Unemployment rate country ranks ]
11% (2008 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
NA%
revenues: $973.2 million
[see also: Budget revenues country ranks ]
expenditures:
$1.115 billion (FY11/12)
17.4% of GDP (FY11/12 est.)
country comparison to the world: 181
[see also: Taxes and other revenues country ranks ]
-2.5% of GDP (FY11/12 est.)
country comparison to the world: 101
[see also: Budget surplus (+) or deficit (-) country ranks ]
1 April - 31 March
2.4% (2012 est.)
country comparison to the world: 64
[see also: Inflation rate (consumer prices) country ranks ]
$1.533 billion (31 December 2012)
country comparison to the world: 102
[see also: Market value of publicly traded shares country ranks ]
$12 million (2012 est.)
country comparison to the world: 210
[see also: Exports country ranks ]
reexports of pharmaceuticals
Australia 17%, US 14.8%, Indonesia 12.6% (2012)
$900 million (2012 est.)
country comparison to the world: 179
[see also: Imports country ranks ]
clothing, fuels, machinery and transport equipment, construction materials, chemicals, food and live animals
South Korea 46.2%, US 21%, Singapore 9.9%, China 7%, Turkmenistan 4.8% (2012)
$1.4 billion (2012 est.)
country comparison to the world: 150
[see also: Debt - external country ranks ]
$NA
[see also: Stock of direct foreign investment - at home country ranks ]
$NA
[see also: Stock of direct foreign investment - abroad country ranks ]
Bermudian dollars (BMD) per US dollar -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
Flags
This page was last modified 06-Nov-14