Economy - overview:
Bermuda enjoys the third highest per capita income in the world, more than 50% higher than that of the US; the average cost of a house by the mid-2000s exceeded $1,000,000. 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 largely focused on construction and agriculture is limited, with only 20% of the land being arable.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Budget: Inflation rate (consumer prices): Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Oil - proved reserves: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: 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: The information regarding Bermuda on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Bermuda Economy 2011 information contained here. All suggestions for corrections of any errors about Bermuda Economy 2011 should be addressed to the CIA.
$4.5 billion (2004 est.)
country comparison to the world: 164
[see also: GDP (purchasing power parity) country ranks ]
$NA
[see also: GDP (official exchange rate) country ranks ]
4.6% (2004 est.)
country comparison to the world: 66
[see also: GDP - real growth rate country ranks ]
$69,900 (2004 est.)
country comparison to the world: 4
[see also: GDP - per capita country ranks ]
agriculture: 1%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
10%
[see also: GDP - composition by sector - industry country ranks ]
services:
89% (2002 est.)
[see also: GDP - composition by sector - services country ranks ]
38,360 (2004)
country comparison to the world: 201
[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.)
[see also: Labor force - by occupation - services country ranks ]
2.1% (2004 est.)
country comparison to the world: 15
[see also: Unemployment rate country ranks ]
19% (2000)
[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%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
revenues: $738 million
[see also: Budget - revenues country ranks ]
expenditures:
$665 million (FY04/05)
[see also: Budget - expenditures country ranks ]
2.8% (November 2005)
country comparison to the world: 86
[see also: Inflation rate (consumer prices) country ranks ]
$1.36 billion (31 December 2009)
country comparison to the world: 96
[see also: Market value of publicly traded shares country ranks ]
bananas, vegetables, citrus, flowers; dairy products, honey
international business, tourism, light manufacturing
NA%
[see also: Industrial production growth rate country ranks ]
675.6 million kWh (2007 est.)
country comparison to the world: 153
[see also: Electricity - production country ranks ]
628.3 million kWh (2007 est.)
country comparison to the world: 155
[see also: Electricity - consumption country ranks ]
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]
0 kWh (2008 est.)
[see also: Electricity - imports country ranks ]
0 bbl/day (2009 est.)
country comparison to the world: 205
[see also: Oil - production country ranks ]
5,000 bbl/day (2009 est.)
country comparison to the world: 167
[see also: Oil - consumption country ranks ]
0 bbl/day (2007 est.)
country comparison to the world: 209
[see also: Oil - exports country ranks ]
4,500 bbl/day (2007 est.)
country comparison to the world: 161
[see also: Oil - imports country ranks ]
0 bbl (1 January 2010 est.)
country comparison to the world: 101
[see also: Oil - proved reserves country ranks ]
0 cu m (2008 est.)
country comparison to the world: 97
[see also: Natural gas - production country ranks ]
0 cu m (2008 est.)
country comparison to the world: 206
[see also: Natural gas - consumption country ranks ]
0 cu m (2008 est.)
country comparison to the world: 54
[see also: Natural gas - exports country ranks ]
0 cu m (2008 est.)
country comparison to the world: 81
[see also: Natural gas - imports country ranks ]
0 cu m (1 January 2010 est.)
country comparison to the world: 105
[see also: Natural gas - proved reserves country ranks ]
$763 million (2006)
country comparison to the world: 161
[see also: Exports country ranks ]
reexports of pharmaceuticals
Spain 16.91%, India 10.15%, Brazil 9.55%, Germany 7.4% (2009)
$1.162 billion (2006)
country comparison to the world: 169
[see also: Imports country ranks ]
clothing, fuels, machinery and transport equipment, construction materials, chemicals, food and live animals
US 31.2%, South Korea 26.71%, Brazil 6.77%, Ireland 6.11%, Singapore 5.35% (2009)
$160 million (FY99/00)
country comparison to the world: 178
[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 - 1.0000 (fixed rate pegged to the US dollar)
This page was last modified 09-Feb-11