65365
English (official), Portuguese
HAMILTON (capital) 10,000 (2014)
- Conventional long form
- none
- Conventional short form
- Bermuda
- Local long form
- Local short form
parliamentary democracy (Parliament); self-governing overseas territory of the UK
- 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
has not submitted an ICJ jurisdiction declaration; non-party state to the ICCt
Tourism accounts for about 5% of Bermuda's GDP, but a much larger share of employment. Over 80% of its visitors come from the US. The sector struggled in the wake of the global recession of 2008-09. International business, which consists primarily of reinsurance and other financial services, is the real bedrock of Bermuda's economy, consistently accounting for about 85% of the island's GDP. Even this sector, however, has lost roughly 5,000 high-paying expatriate jobs since 2008, weighing heavily on household consumption and retail sales. Bermuda must import almost everything. Agriculture and industry are limited due to the small size of the island.
- Inflation
- None%
- Total tax rate (% of commercial profits)
- None%
- Real Interest Rate
- None%
- Manufacturing, value added (% of GDP)
- 0.983%
- Current Account Balance
- US$ 816,780,234
- Labor Force, Total
- Employment in Agriculture
- 1.63%
- Employment in Industry
- 10.30%
- Employment in Services
- 87.65%
- Unemployment Rate
- 2.70%
- Imports of goods and services
- US$ 1,649,401,000
- Exports of goods and services
- US$ 2,656,891,000
- Total Merchandise Trade
- 18.37%
- FDI, net inflows
- US$ -203,934,014
- Commercial Service Exports
- US$ 1,242,928,173
bananas, vegetables, citrus, flowers; dairy products, honey
international business, tourism, light manufacturing
- Commodities
- reexports of pharmaceuticals
- Partners
- US 14.4%, Iceland 13.7%, Spain 6.8%, UK 5.8%, Mauritius 5.6% (2015)
- Commodities
- clothing, fuels, machinery and transport equipment, construction materials, chemicals, food and live animals
- Partners
- South Korea 49.5%, US 14.6%, Germany 11.4%, China 9%, Turkmenistan 5.2% (2015)