Bermuda Economic Statistics and Indicators

14, Aug 2020, EDT. Welcome to the Bermuda economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.

Economic Indicators For: Bermuda › Change country
National or Regional Currency: Bermudian Dollar, BMD
Year of data: 2015 › Change year
Number of Indicators Listed:
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 69,839 (July 2014 est.)
Area: total: 54 sq km ; land: 54 sq km ; water: 0 sq km
Natural Resources: limestone, pleasant climate fostering tourism
Capital: name: Hamilton ; geographic coordinates: 32 17 N, 64 47 W ; time difference: UTC-4 (1 hour ahead of Washington, DC, during Standard Time) ; daylight saving time: +1hr, begins second Sunday in March; ends first Sunday in November

Despite four years of recession and a public debt of $1.4 billion, Bermuda enjoys the fourth highest per capita income in the world, about 70% higher than that of the US. The average cost of a single-family home in 2012 was $1.1 million. Its economy is primarily based on international business and the provision of financial services to that sector, and to a lesser extent tourism. A number of reinsurance companies relocated to the island following the 11 September 2001 attacks on the US and again after Hurricanes Katrina, Rita, and Wilma in 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 and has dropped in its relevant importance to the economy, although it is still important as a job creator. Bermuda must import almost everything. Agriculture is limited due to the small size of the island and Bermuda's industrial sector is small.

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