Bermuda: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
High Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Data unavailable |
| Economic Trivia | Bermuda has the fourth highest GDP per capita in the world. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2021): United States, Canada, and United Kingdom |
| Top Industries Source: CIA World Factbook | International Business; Tourism; Light Manufacturing |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $6,088,718,344 (2022) |
| GDP Growth Rate (annual %) | 2.927% (2022) |
| GDP Per Capita, PPP (current international) | $95,837 (2022) |
GDP Country Rank 168/197 (2022)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | Data unavailable |
| External debt stocks, total (DOD, current US$) | Data unavailable |
| Total tax rate (% of commercial profits) | Data unavailable |
| Real Interest Rate (5 year average %) | Data unavailable |
| Manufacturing, value added (% of GDP) | 0.354% (2021) |
| Current Account Balance (BoP, current US$) | $962,257,799 (2021) |
Labor and Employment [1]
| Labor Force, Total | Data unavailable |
| Employment in Agriculture (% of total employment) | 1.63% (2013) |
| Employment in Industry (% of total employment) | 10.3% (2013) |
| Employment in Services (% of total employment) | 87.65% (2013) |
| Unemployment Rate | 2.7% (2000) |
Trade [1]
| Imports of goods and services (current US$) | $1,960,700,000 (2022) |
| Exports of goods and services (current US$) | $3,950,300,000 (2022) |
| Total Merchandise Trade (% of GDP) | 13.774% (2022) |
| FDI, net inflows (BoP, current US$) | $49,675,692 (2021) |
| Commercial Service Exports (current US$) | $1,078,410,256 (2021) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Bermuda’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.