World Factbook
Bermuda
Last updated: 2026-03-28 (today)
Budget
revenues
$999.2 million (2017 est.)
expenditures
$1.176 billion (2017 est.)
Exports
note
note: balance of payments - exports of goods and services in current dollars
Exports 2021
$1.136 billion (2021 est.)
Exports 2022
$1.425 billion (2022 est.)
Exports 2023
$1.599 billion (2023 est.)
Imports
note
note: balance of payments - imports of goods and services in current dollars
Imports 2021
$1.925 billion (2021 est.)
Imports 2022
$2.235 billion (2022 est.)
Imports 2023
$2.3 billion (2023 est.)
Industries
international business, tourism, light manufacturing
Remittances
note
note: personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2021
22.7% of GDP (2021 est.)
Remittances 2022
22.3% of GDP (2022 est.)
Remittances 2023
23.7% of GDP (2023 est.)
Exchange rates
Currency
Bermudian dollars (BMD) per US dollar -
Exchange rates 2020
1 (2020 est.)
Exchange rates 2021
1 (2021 est.)
Exchange rates 2022
1 (2022 est.)
Exchange rates 2023
1 (2023 est.)
Exchange rates 2024
1 (2024 est.)
Economic overview
small, tourism- and construction-based, territorial-island economy; American import and tourist destination; known offshore banking hub; increasing inflation; major re-exportation and re-importation area
Exports - partners
Germany 40%, South Africa 38%, Netherlands 15%, USA 2%, Angola 2% (2023)
note: top five export partners based on percentage share of exports
Imports - partners
USA 38%, Cyprus 31%, UK 6%, China 6%, Canada 4% (2023)
note: top five import partners based on percentage share of imports
Real GDP per capita
note
note: data in 2021 dollars
Real GDP per capita 2022
$98,100 (2022 est.)
Real GDP per capita 2023
$103,100 (2023 est.)
Real GDP per capita 2024
$105,300 (2024 est.)
Real GDP growth rate
note
note: annual GDP % growth based on constant local currency
Real GDP growth rate 2022
6.5% (2022 est.)
Real GDP growth rate 2023
4.9% (2023 est.)
Real GDP growth rate 2024
2.1% (2024 est.)
Agricultural products
bananas, vegetables, citrus, flowers; dairy products, honey
Exports - commodities
crude petroleum, ships, aircraft, liquor, railway cargo containers (2023)
note: top five export commodities based on value in dollars
Imports - commodities
ships, refined petroleum, railway cargo containers, packaged medicine, cars (2023)
note: top five import commodities based on value in dollars
Current account balance
note
note: balance of payments - net trade and primary/secondary income in current dollars
Current account balance 2021
$962.258 million (2021 est.)
Current account balance 2022
$1.135 billion (2022 est.)
Current account balance 2023
$1.32 billion (2023 est.)
GDP (official exchange rate)
$8.98 billion (2024 est.)
note: data in current dollars at official exchange rate
GDP - composition, by end use
note
note: figures may not total 100% due to rounding or gaps in data collection
household consumption
45.6% (2024 est.)
government consumption
11% (2024 est.)
investment in inventories
0% (2024 est.)
investment in fixed capital
11.3% (2024 est.)
exports of goods and services
56.3% (2024 est.)
imports of goods and services
-24.2% (2024 est.)
Inflation rate (consumer prices)
note
note: annual % change based on consumer prices
Inflation rate (consumer prices) 2020
0% (2020 est.)
Inflation rate (consumer prices) 2021
1.4% (2021 est.)
Inflation rate (consumer prices) 2022
2.8% (2022 est.)
Industrial production growth rate
-3.6% (2023 est.)
note: annual % change in industrial value added based on constant local currency
Real GDP (purchasing power parity)
note
note: data in 2021 dollars
Real GDP (purchasing power parity) 2022
$6.355 billion (2022 est.)
Real GDP (purchasing power parity) 2023
$6.667 billion (2023 est.)
Real GDP (purchasing power parity) 2024
$6.808 billion (2024 est.)
GDP - composition, by sector of origin
note
note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data
industry
4.6% (2023 est.)
services
91.5% (2023 est.)
agriculture
0.2% (2023 est.)