Overview: Bermuda enjoys one of the highest per capita incomes in the world, having successfully exploited its location by providing luxury tourist facilities and financial services. The tourist industry attracts more than 90% of its business from North America. The industrial sector is small, and agriculture is severely limited by a lack of suitable land. About 80% of food needs are imported.

National product: GDP - exchange rate conversion - $1.63 billion (1992)

National product real growth rate: -1.5% (1991)

National product per capita: $27,100 (1992)

Inflation rate (consumer prices): 4.4% (1991)

Unemployment rate: 6% (1991)

Budget:
revenues: $327.5 million
expenditures: $308.9 million, including capital expenditures of $35.4 million (FY91 est.)

Exports: $60 million (f.o.b., 1991)
commodities: semitropical produce, light manufactures, re-exports of pharmaceuticals
partners: US 55%, UK 32%, Canada 11%, other 2%

Imports: $468 million (f.o.b.,1991)
commodities: fuel, foodstuffs, machinery
partners: US 60%, UK 8%, Venezuela 7%, Canada 5%, Japan 5%, other 15%

External debt: $NA

Industrial production: growth rate NA%

Electricity:
capacity: 154,000 kW
production: 504 million kWh
consumption per capita: 8,370 kWh (1992)

Industries: tourism, finance, structural concrete products, paints, pharmaceuticals, ship repairing

Agriculture: accounts for less than 1% of GDP; most basic foods must be imported; produces bananas, vegetables, citrus fruits, flowers, dairy products

Economic aid:
recipient: US commitments, including Ex-Im (FY70-81), $34 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $277 million

Currency: 1 Bermudian dollar (Bd$) = 100 cents
Exchange rates: Bermudian dollar (Bd$) per US$1 - 1.0000 (fixed rate)

Fiscal year: 1 April - 31 March

NOTE: The information regarding Bermuda on this page is re-published from the 1995 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Bermuda Economy 1995 information contained here. All suggestions for corrections of any errors about Bermuda Economy 1995 should be addressed to the CIA.