GeoFroggy

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Economy 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

Agriculture Products

bananas, vegetables, citrus, flowers; dairy products, honey

Industries

international business, tourism, light manufacturing

Industrial Production Growth Rate

0.1% (2021 est.)comparison ranking: 157

Labor Force

33,480 (2016 est.)comparison ranking: 202

Unemployment Rate

7% (2017 est.)7% (2016 est.)

Youth Unemployment Rate

Total: 29.3% (2014 est.)

Male: 29.7%

Female: 29%

Population Below Poverty Line

11% (2008 est.)

Household Income or Consumption by Percentage Share

Lowest 10%: NA

Highest 10%: NA

Budget

Revenues: $999.2 million (2017 est.)

Expenditures: $1.176 billion (2017 est.)

Budget Surplus

-2.9% (of GDP) (2017 est.)comparison ranking: 128

Public Debt

43% of GDP (FY14/15)comparison ranking: 128

Commercial Bank Prime Lending Rate

Stock of Narrow Money

Stock of Broad Money

Stock of Domestic Credit

Market Value of Publicly Traded Shares

Reserves of Foreign Exchange and Gold

Debt External

$2.515 billion (2017 est.)$2.435 billion (2015 est.)

Stock of Direct Foreign Investment at Home

Stock of Direct Foreign Investment Abroad

Exchange Rates

0: Bermudian dollars (BMD) per US dollar -

Exchange rates: 1 (2021 est.)1 (2020 est.)1 (2019 est.)1 (2018 est.)1 (2017 est.)

Year	2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000

Taxes and Other Revenues

16.3% (of GDP) (2017 est.)comparison ranking: 132

Fiscal Year

1 April - 31 March

Real GDP

$5.127 billion (2021 est.) note: data are in 2017 dollars

GDP Purchasing Power Parity

GDP Real Growth Rate

5.41% (2021 est.)-6.84% (2020 est.)0.31% (2019 est.)

GDP Per Capital

$80,300 (2021 est.) note: data are in 2017 dollars

Inflation Rate

1.9% (2017 est.)1.4% (2016 est.)

Credit Ratings

Fitch rating
N/A (2015)
Moody s rating
A2 (2016)
Standard & Poors rating
A+ (2015)

Gross National Saving

GDP Composition by end Use

Household consumption
51.3% (2017 est.)
Government consumption
15.7% (2017 est.)
Investment in fixed capital
13.7% (2017 est.)
Investment in inventories
0% (2017 est.)
Exports of goods and services
49.8% (2017 est.)
Imports of goods and services
-30.4% (2017 est.)

GDP Composition by Sector of Origin

Agriculture
0.9% (2017 est.)
Industry
5.3% (2017 est.)
Services
93.8% (2017 est.)

Inflation Rate Consumer Prices

Current Account Balance

$1.015 billion (2021 est.)$853.85 million (2020 est.)$838.701 million (2019 est.)

Exports

0
$1.123 billion (2021
Note
Data are in

Exports Partners

Jamaica
49.1%
Luxembourg
36.1%
US
4.9%

Exports Commodities

Recreational boats, ships, trailers, aircraft, fertilizers (2021)

Imports

$1.925 billion (2021 est.) note: data are in current year dollars

Imports Partners

United
States
South
Korea
Germany
10%
Canada
8%

Imports Commodities

Ships, refined petroleum, postage stamps, recreational boats, aircraft (2019)

Central African Republic