ARCHIVE // BM // 2015

Bermuda

2015 Edition — territory

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Communications
Broadcast media [time series]
3 TV stations; cable and satellite TV subscription services are available; roughly 13 radio stations operating (2012)
Internet country code [time series]
.bm
Internet users [time series]
total: 68,300 | percent of population: 97.8% (2014 est.) | country comparison to the world: 179
Broadcast media (Radio broadcast stations) [time series]
AM 5, FM 4, shortwave 1 (2009)
Telecommunication systems (Telephone system) [time series]
general assessment: a good, fully automatic digital telephone system with fiber-optic trunk lines | domestic: the system has a high fixed-line teledensity coupled with a mobile-cellular teledensity of roughly 125 per 100 persons | international: country code - 1-441; landing points for the GlobeNet, Gemini Bermuda, CBUS, and the Challenger Bermuda-1 (CB-1) submarine cables; satellite earth stations - 3 (2010)
Telephones - fixed lines [time series]
total subscriptions: 29,200 | subscriptions per 100 inhabitants: 42 (2014 est.) | country comparison to the world: 173
Telephones - mobile cellular [time series]
total: 59,500 | subscriptions per 100 inhabitants: 85 (2014 est.) | country comparison to the world: 201
Broadcast media (Television broadcast stations) [time series]
3 (2005)
Economy
Agricultural products (Agriculture - products) [time series]
bananas, vegetables, citrus, flowers; dairy products, honey
Budget [time series]
revenues: $867.8 million | expenditures: $1.104 billion (2014 est.)
Budget surplus (+) or deficit (-) [time series]
-4.5% of GDP (2014 est.) | country comparison to the world: 165
Debt - external [time series]
$2.435 billion (2015 est.) | $1.4 billion (2012 est.) | country comparison to the world: 147
Economic overview (Economy - overview) [time series]
Bermuda's economy entered its seventh straight year of recession in 2015. Unemployment is 9%, public debt is growing and exceeds $2.3 billion, the government pension fund faces a $2.4 billion shortfall, and the economy has not attracted significant amounts of new foreign investment. Bermuda's FY 2015-16 budget proposal projects a 12% larger deficit than FY14/15. The government announced it would have to borrow $125 million in 2015 to meet current operating expenses. Still, Bermuda enjoys the fourth highest per capita income in the world, about 70% higher than that of the US. Tourism, which derives over 80% of its visitors from the US, accounts for 5.2% of GDP but a much larger share of employment. Tourism has struggled in the wake of the global recession of 2008. 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 5000 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.
Exchange rates [time series]
Bermudian dollars (BMD) per US dollar - | 1 (2014 est.) | 1 (2013 est.) | 1 (2012 est.)
Exports [time series]
$11 million (2014 est.) | $13 million (2013 est.) | country comparison to the world: 215
Exports - commodities [time series]
reexports of pharmaceuticals
Exports - partners [time series]
Indonesia 8.5%, US 8.1% (2014)
Fiscal year [time series]
1 April - 31 March
GDP (official exchange rate) [time series]
$5.198 billion (2013 est.)
Real GDP (purchasing power parity) (GDP (purchasing power parity)) [time series]
$5.198 billion (2013 est.) | $5.331 billion (2012 est.) | $5.6 billion (2011 est.) | country comparison to the world: 174
GDP - composition, by end use [time series]
household consumption: 53.1% | government consumption: 17.3% | investment in fixed capital: 10.6% | investment in inventories: 0.9% | exports of goods and services: 51.3% | imports of goods and services: -33.3% | (2014 est.)
GDP - composition, by sector of origin [time series]
agriculture: 0.8% | industry: 5.8% | services: 93.4% (2014 est.)
Real GDP per capita (GDP - per capita (PPP)) [time series]
$85,700 (2013 est.) | $85,400 (2012) | $86,000 (2011 est.) | country comparison to the world: 5
Real GDP growth rate (GDP - real growth rate) [time series]
-2.5% (2013 est.) | -4.8% (2012) | -3.5% (2011 est.) | country comparison to the world: 218
Household income or consumption by percentage share [time series]
lowest 10%: NA% | highest 10%: NA%
Imports [time series]
$968 million (2014 est.) | $1.012 billion (2013 est.) | country comparison to the world: 181
Imports - commodities [time series]
clothing, fuels, machinery and transport equipment, construction materials, chemicals, food and live animals
Imports - partners [time series]
South Korea 56.5%, US 17.9%, Singapore 9%, Turkmenistan 5.5%, China 5.2% (2014)
Industrial production growth rate [time series]
0.7% (2014 est.) | country comparison to the world: 144
Industries [time series]
international business, tourism, light manufacturing
Inflation rate (consumer prices) [time series]
2% (2014 est.) | 1.8% (2013 est.) | country comparison to the world: 104
Labor force [time series]
33,490 (2014 est.) | country comparison to the world: 204
Labor force - by occupation [time series]
agriculture: 2% | industry: 15% | services: 83% (2013 est.)
Market value of publicly traded shares [time series]
$1.487 billion (31 December 2012 est.) | $1.436 billion (31 December 2011) | $1.535 billion (31 December 2010 est.) | country comparison to the world: 103
Population below poverty line [time series]
11% (2008 est.)
Public debt [time series]
43% of GDP (FY14/15) | country comparison to the world: 94
Stock of broad money [time series]
$22.1 billion (30 September 2014) | $25.1 billion (31 December 2013) | country comparison to the world: 86
Stock of direct foreign investment - abroad [time series]
$889 million (2014 est.) | $NA (2013 est.) | country comparison to the world: 83
Stock of direct foreign investment - at home [time series]
$2.641 billion (2014 est.) | $2.664 billion (2013 est.) | country comparison to the world: 105
Stock of domestic credit [time series]
$NA
Stock of narrow money [time series]
$3.374 billion (30 September 2014) | $3.422 billion (31 December 2013) | note: figures do not include US dollars, which also circulate freely | country comparison to the world: 113
Taxes and other revenues [time series]
16.7% of GDP (2014 est.) | country comparison to the world: 181
Unemployment rate [time series]
9% (2014 est.) | 7% (2013) | country comparison to the world: 105
Energy
Carbon dioxide emissions (Carbon dioxide emissions from consumption of energy) [time series]
614,200 Mt (2012 est.) | country comparison to the world: 175
Crude oil - exports [time series]
0 bbl/day (2015 est.) | country comparison to the world: 99
Crude oil - imports [time series]
0 bbl/day (2014 est.) | country comparison to the world: 160
Crude oil - production [time series]
0 bbl/day (2014 est.) | country comparison to the world: 108
Crude oil - proved reserves [time series]
0 bbl (1 January 2015 est.) | country comparison to the world: 107
Electricity - consumption [time series]
664.2 million kWh (2013 est.) | country comparison to the world: 166
Electricity - exports [time series]
0 kWh (2013 est.) | country comparison to the world: 105
Electricity - from fossil fuels [time series]
98.2% of total installed capacity (2014 est.) | country comparison to the world: 54
Electricity - from hydroelectric plants [time series]
0% of total installed capacity (2014 est.) | country comparison to the world: 161
Electricity - from nuclear fuels [time series]
0% of total installed capacity (2014 est.) | country comparison to the world: 49
Electricity - from other renewable sources [time series]
1.8% of total installed capacity | note: the Tynes Bay Waste Treatment Facility turns waste to electric energy (2014 est.) | country comparison to the world: 84
Electricity - imports [time series]
0 kWh (2013 est.) | country comparison to the world: 120
Electricity - installed generating capacity [time series]
167,400 kW (2014 est.) | country comparison to the world: 163
Electricity - production [time series]
648.9 million kWh (2014 est.) | country comparison to the world: 159
Natural gas - consumption [time series]
0 cu m (2013 est.) | country comparison to the world: 118
Natural gas - exports [time series]
0 cu m (2013 est.) | country comparison to the world: 61
Natural gas - imports [time series]
0 cu m (2014 est.) | country comparison to the world: 161
Natural gas - production [time series]
0 cu m (2014 est.) | country comparison to the world: 157
Natural gas - proved reserves [time series]
0 cu m (1 January 2014 est.) | country comparison to the world: 112
Refined petroleum products - consumption [time series]
4,600 bbl/day (2013 est.) | country comparison to the world: 174
Refined petroleum products - exports [time series]
0 bbl/day (2014 est.) | country comparison to the world: 153
Refined petroleum products - imports [time series]
889.3 bbl/day (2015 est.) | country comparison to the world: 200
Refined petroleum products - production [time series]
0 bbl/day (2012 est.) | country comparison to the world: 157
Geography
Area [time series]
total: 54 sq km | land: 54 sq km | water: 0 sq km | country comparison to the world: 232
Area - comparative [time series]
about one-third the size of Washington, DC
Climate [time series]
subtropical; mild, humid; gales, strong winds common in winter
Coastline [time series]
103 km
Elevation (Elevation extremes) [time series]
lowest point: Atlantic Ocean 0 m | highest point: Town Hill 76 m
Environment - current issues [time series]
sustainable development
Geographic coordinates [time series]
32 20 N, 64 45 W
Geography - note [time series]
consists of about 138 coral islands and islets with ample rainfall, but no rivers or freshwater lakes; some land was leased by the US Government from 1941 to 1995
Irrigated land [time series]
NA
Land boundaries [time series]
0 km
Land use [time series]
agricultural land: 14.8% | arable land 14.8%; permanent crops 0%; permanent pasture 0% | forest: 20% | other: 65.2% (2011 est.)
Location [time series]
North America, group of islands in the North Atlantic Ocean, east of South Carolina (US)
Map references [time series]
North America
Maritime claims [time series]
territorial sea: 12 nm | exclusive fishing zone: 200 nm
Natural hazards [time series]
hurricanes (June to November)
Natural resources [time series]
limestone, pleasant climate fostering tourism
Terrain [time series]
low hills separated by fertile depressions
Government
Administrative divisions [time series]
9 parishes and 2 municipalities*; Devonshire, Hamilton, Hamilton*, Paget, Pembroke, Saint George*, Saint George's, Sandys, Smith's, Southampton, Warwick
Capital [time series]
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
Citizenship [time series]
citizenship by birth: no | citizenship by descent only: at least one parent must be a citizen of the UK | dual citizenship recognized: yes | residency requirement for naturalization: 10 years
Constitution [time series]
several previous (dating to 1684); latest entered into force 8 June 1968; amended several times, last in 2003 (2015)
Country name [time series]
conventional long form: none | conventional short form: Bermuda | former: Somers Islands | etymology: the islands making up Bermuda are named after Juan de BERMUDEZ, a Spanish sea captain and the first European explorer of the archipelago in the early 16th century
Dependency status [time series]
overseas territory of the UK
Diplomatic representation from the US [time series]
chief of mission: Consul General Robert SETTJE (since August 2012) | consulate(s) general: Crown Hill, 16 Middle Road, Devonshire DVO3 | mailing address: P. O. Box HM325, Hamilton HMBX; American Consulate General Hamilton, US Department of State, 5300 Hamilton Place, Washington, DC 20520-5300 | telephone: [1] (441) 295-1342 | FAX: [1] (441) 295-1592, 296-9233
Diplomatic representation in the US [time series]
none (overseas territory of the UK)
Executive branch [time series]
chief of state: Queen ELIZABETH II (since 6 February 1952); represented by Governor George FERGUSSON (since 23 May 2012) | head of government: Premier Michael DUNKLEY (since 20 May 2014) | cabinet: Cabinet nominated by the premier, appointed by the governor | elections/appointments: the monarchy is hereditary; governor appointed by the monarch; following legislative elections, the leader of the majority party or majority coalition usually appointed premier by the governor
Flag (Flag description) [time series]
red, with the flag of the UK in the upper hoist-side quadrant and the Bermudian coat of arms (a white shield with a red lion standing on a green grassy field holding a scrolled shield showing the sinking of the ship Sea Venture off Bermuda in 1609) centered on the outer half of the flag; it was the shipwreck of the vessel, filled with English colonists originally bound for Virginia, that led to the settling of Bermuda | note: the flag is unusual in that it is only British overseas territory that uses a red ensign, all others use blue
Government type [time series]
parliamentary; self-governing territory
Independence [time series]
none (overseas territory of the UK)
International law organization participation [time series]
has not submitted an ICJ jurisdiction declaration; non-party state to the ICCt
International organization participation [time series]
Caricom (associate), ICC (NGOs), Interpol (subbureau), IOC, ITUC (NGOs), UPU, WCO
Judicial branch [time series]
highest resident court(s): Court of Appeal (consists of the court president and 4 justices); Supreme Court (consists of the chief justice, 4 puisne judges, and 1 associate justice); note - the Judicial Committee of the Privy Council, in London, is the court of final appeal | judge selection and term of office: Court of Appeal justice appointed by the governor; justice tenure by individual appointment; Supreme Court judges nominated by the Judicial and Legal Services Commission and appointed by the governor; judge tenure NA | subordinate courts: commercial court (began in 2006); magistrates' courts
Legal system [time series]
English common law
Legislative branch [time series]
description: bicameral Parliament consists of the Senate (11 seats; members appointed by the governor, the premier, and the opposition party to serve 5-year terms) and the House of Assembly (36 seats; members directly elected in single-seat constituencies by simple majority vote to serve up to 5-year terms) | elections: last held on 17 December 2012 (next to be held not later than 2017) | election results: percent of vote by party - OBA 51.7%, PLP 46.1%, other 2.2%; seats by party - OBA 19, PLP 17
National anthem(s) (National anthem) [time series]
name: "Hail to Bermuda" | lyrics/music: Bette JOHNS | note: serves as a local anthem; as a territory of the United Kingdom, "God Save the Queen" is official (see United Kingdom)
National holiday [time series]
Bermuda Day, 24 May
National symbol(s) [time series]
red lion
Political parties (Political parties and leaders) [time series]
One Bermuda Alliance or OBA [Thad HOLLIS] | Progressive Labor Party or PLP [Marc BEAN]
Political parties (Political pressure groups and leaders) [time series]
Association of Bermuda Insurers and Reinsurers or ABIR [Bradley KADING] | Association of Bermuda International Companies or ABIC [George HUTCHINGS] | Bermuda Employer's Council [Keith JENSEN] | Bermuda Industrial Union or BIU [Chris Furbert] | Bermuda Public Services Union or BPSU [Kevin GRANT and Ed BALL] | Bermuda Union of Teachers [Michael CHARLES]
Suffrage [time series]
18 years of age; universal
Introduction
Background [time series]
Bermuda was first settled in 1609 by shipwrecked English colonists heading for Virginia. Self-governing since 1620, Bermuda is the oldest and most populous of the British overseas territories. Vacationing to the island to escape North American winters first developed in Victorian times. Tourism continues to be important to the island's economy, although international business has overtaken it in recent years. Bermuda has also developed into a highly successful offshore financial center. A referendum on independence from the UK was soundly defeated in 1995.
Military
Manpower available for military service [time series]
males age 16-49: 15,081 (2010 est.)
Manpower fit for military service [time series]
males age 16-49: 12,323 | females age 16-49: 12,174 (2010 est.)
Manpower reaching militarily significant age annually [time series]
male: 433 | female: 410 (2010 est.)
Military - note [time series]
defense is the responsibility of the UK
Military and security forces (Military branches) [time series]
Bermuda Regiment (2012)
Military service age and obligation [time series]
18-45 years of age for voluntary male or female enlistment in the Bermuda Regiment; males must register at age 18 and may be subject to conscription; term of service is 38 months for volunteers or conscripts (2012)
People and Society
Age structure [time series]
0-14 years: 17.31% (male 6,144/female 6,009) | 15-24 years: 12.21% (male 4,302/female 4,269) | 25-54 years: 38.56% (male 13,541/female 13,526) | 55-64 years: 15% (male 4,963/female 5,568) | 65 years and over: 16.92% (male 5,002/female 6,872) (2015 est.)
Birth rate [time series]
11.33 births/1,000 population (2015 est.) | country comparison to the world: 174
Death rate [time series]
8.23 deaths/1,000 population (2015 est.) | country comparison to the world: 85
Education expenditure (Education expenditures) [time series]
2.6% of GDP (2010) | country comparison to the world: 151
Ethnic groups [time series]
black 53.8%, white 31%, mixed 7.5%, other 7.1%, unspecified 0.6% (2010 est.)
HIV/AIDS - adult prevalence rate [time series]
NA
HIV/AIDS - deaths [time series]
NA
HIV/AIDS - people living with HIV/AIDS [time series]
NA
Infant mortality rate [time series]
total: 2.48 deaths/1,000 live births | male: 2.58 deaths/1,000 live births | female: 2.37 deaths/1,000 live births (2015 est.) | country comparison to the world: 219
Languages [time series]
English (official), Portuguese
Life expectancy at birth [time series]
total population: 81.15 years | male: 77.94 years | female: 84.42 years (2015 est.) | country comparison to the world: 25
Major urban areas - population [time series]
HAMILTON (capital) 10,000 (2014)
Median age [time series]
total: 43.1 years | male: 41.2 years | female: 44.9 years (2015 est.)
Nationality [time series]
noun: Bermudian(s) | adjective: Bermudian
Net migration rate [time series]
1.88 migrant(s)/1,000 population (2015 est.) | country comparison to the world: 53
Population [time series]
70,196 (July 2015 est.) | country comparison to the world: 204
Population growth rate [time series]
0.5% (2015 est.) | country comparison to the world: 159
Religions [time series]
Protestant 46.2% (includes Anglican 15.8%, African Methodist Episcopal 8.6%, Seventh Day Adventist 6.7, Pentecostal 3.5%, Methodist 2.7%, Presbyterian 2.0 %, Church of God 1.6%, Baptist 1.2%, Salvation Army 1.1%, Bretheren 1.0%, other Protestant 2.0%), Roman Catholic 14.5%, Jehovah's Witness 1.3%, other Christian 9.1%, Muslim 1%, other 3.9%, none 17.8%, unspecified 6.2% (2010 est.)
School life expectancy (primary to tertiary education) [time series]
total: 12 years | male: 11 years | female: 13 years (2012)
Sex ratio [time series]
at birth: 1.02 male(s)/female | 0-14 years: 1.02 male(s)/female | 15-24 years: 1.01 male(s)/female | 25-54 years: 1 male(s)/female | 55-64 years: 0.89 male(s)/female | 65 years and over: 0.73 male(s)/female | total population: 0.94 male(s)/female (2015 est.)
Total fertility rate [time series]
1.95 children born/woman (2015 est.) | country comparison to the world: 130
Youth unemployment rate (ages 15-24) (Unemployment, youth ages 15-24) [time series]
total: 35.7% | male: 34.8% | female: 36.5% (2012 est.)
Urbanization [time series]
urban population: 100% of total population (2015) | rate of urbanization: 0.19% annual rate of change (2010-15 est.)
Transnational Issues
Disputes - international [time series]
none
Transportation
Airports [time series]
1 (2013) | country comparison to the world: 212
Airports - with paved runways [time series]
total: 1 | 2,438 to 3,047 m: 1 (2013)
Merchant marine [time series]
total: 139 | by type: bulk carrier 22, chemical tanker 3, container 14, liquefied gas 43, passenger 27, passenger/cargo 2, petroleum tanker 19, refrigerated cargo 9 | foreign-owned: 105 (France 1, Germany 14, Greece 8, Hong Kong 4, Ireland 1, Israel 3, Japan 2, Monaco 2, Nigeria 11, Norway 5, Sweden 14, UK 14, US 26) | registered in other countries: 241 (Bahamas 15, Cyprus 1, France 5, Greece 3, Hong Kong 20, Isle of Man 7, Liberia 4, Malta 15, Marshall Islands 35, Netherlands 1, Norway 24, Panama 27, Philippines 47, Saint Vincent and the Grenadines 1, Singapore 25, UK 6, US 5) (2010) | country comparison to the world: 41
Ports (Ports and terminals) [time series]
major seaport(s): Hamilton, Ireland Island, Saint George
Roadways [time series]
total: 447 km | paved: 447 km | note: 225 km public roads; 222 km private roads (2010) | country comparison to the world: 198