ARCHIVE // BM // 2017

Bermuda

2017 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: 69,126 | percent of population: 98.0% (July 2016 est.) | country comparison to the world: 179
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 (2015)
Telephones - fixed lines [time series]
total subscriptions: 29,200 | subscriptions per 100 inhabitants: 42 (July 2016 est.) | country comparison to the world: 173
Telephones - mobile cellular [time series]
total: 59,500 | subscriptions per 100 inhabitants: 85 (July 2016 est.) | country comparison to the world: 201
Economy
Agricultural products (Agriculture - products) [time series]
bananas, vegetables, citrus, flowers; dairy products, honey
Budget [time series]
revenues: $955.7 million | expenditures: $1.126 billion (2016 est.)
Budget surplus (+) or deficit (-) [time series]
-3.3% of GDP (2016 est.) | country comparison to the world: 128
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]
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. | 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 new foreign investment. Bermuda's FY15/16 budget projects a 12% larger deficit than FY14/15. The government announced it would 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.
Exchange rates [time series]
Bermudian dollars (BMD) per US dollar - | 1 (2016 est.) | 1 (2015 est.) | 1 (2014 est.) | 1 (2013 est.) | 1 (2012 est.)
Exports [time series]
$19 million (2016 est.) | $20 million (2015 est.) | country comparison to the world: 214
Exports - commodities [time series]
reexports of pharmaceuticals
Exports - partners [time series]
Latvia 33.4%, Jamaica 16.6%, US 13.7%, Nigeria 11.7%, Israel 4.7% (2016)
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: 171
GDP - composition, by end use [time series]
household consumption: 53.7% | government consumption: 16.3% | investment in fixed capital: 12.9% | investment in inventories: 0% | exports of goods and services: 49.9% | imports of goods and services: -32.7% (2016 est.)
GDP - composition, by sector of origin [time series]
agriculture: 0.8% | industry: 5.8% | services: 93.4% (2016 est.)
Real GDP per capita (GDP - per capita (PPP)) [time series]
$85,700 (2013 est.) | $85,400 (2012 est.) | $86,000 (2011 est.) | country comparison to the world: 8
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: 206
Household income or consumption by percentage share [time series]
lowest 10%: NA% | highest 10%: NA%
Imports [time series]
$951 million (2016 est.) | $935 million (2015 est.) | country comparison to the world: 183
Imports - commodities [time series]
clothing, fuels, machinery and transport equipment, construction materials, chemicals, food and live animals
Imports - partners [time series]
US 54.2%, Japan 17.9%, South Korea 13.7%, Canada 4.9% (2016)
Industrial production growth rate [time series]
2% (2016 est.) | country comparison to the world: 105
Industries [time series]
international business, tourism, light manufacturing
Inflation rate (consumer prices) [time series]
1.4% (2016 est.) | 1.4% (2015 est.) | country comparison to the world: 106
Labor force [time series]
33,490 (2014 est.) | country comparison to the world: 203
Labor force - by occupation [time series]
agriculture: 2% | industry: 15% | services: 83% (2013 est.)
Market value of publicly traded shares [time series]
$1.85 billion (31 December 2015 est.) | $1.601 billion (31 December 2014 est.) | $1.467 billion (31 December 2013 est.) | country comparison to the world: 101
Population below poverty line [time series]
11% (2008 est.)
Public debt [time series]
43% of GDP (FY14/15) | country comparison to the world: 123
Stock of broad money [time series]
$22.1 billion (30 September 2014 est.) | $25.1 billion (31 December 2013 est.) | 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: 86
Stock of direct foreign investment - at home [time series]
$2.641 billion (2014 est.) | $2.664 billion (2013 est.) | country comparison to the world: 112
Stock of domestic credit [time series]
$NA
Stock of narrow money [time series]
$3.374 billion (30 September 2014 est.) | $3.422 billion (31 December 2013 est.) | note: figures do not include US dollars, which also circulate freely | country comparison to the world: 114
Taxes and other revenues [time series]
18.4% of GDP (2016 est.) | country comparison to the world: 166
Unemployment rate [time series]
9% (2014 est.) | 7% (2013) | country comparison to the world: 116
Energy
Carbon dioxide emissions (Carbon dioxide emissions from consumption of energy) [time series]
600,000 Mt (2013 est.) | country comparison to the world: 174
Crude oil - exports [time series]
0 bbl/day (2014 est.) | country comparison to the world: 93
Crude oil - imports [time series]
0 bbl/day (2014 est.) | country comparison to the world: 98
Crude oil - production [time series]
0 bbl/day (2016 est.) | country comparison to the world: 109
Crude oil - proved reserves [time series]
0 bbl (1 January 2017 es) | country comparison to the world: 109
Electricity - consumption [time series]
615.7 million kWh (2015 est.) | country comparison to the world: 167
Electricity - exports [time series]
0 kWh (2016 est.) | country comparison to the world: 105
Electricity - from fossil fuels [time series]
100% of total installed capacity (2015 est.) | country comparison to the world: 22
Electricity - from hydroelectric plants [time series]
0% of total installed capacity (2015 est.) | country comparison to the world: 163
Electricity - from nuclear fuels [time series]
0% of total installed capacity (2015 est.) | country comparison to the world: 48
Electricity - from other renewable sources [time series]
0% of total installed capacity | note: the Tynes Bay Waste Treatment Facility turns waste to electric energy (2015 est.) | country comparison to the world: 213
Electricity - imports [time series]
0 kWh (2016 est.) | country comparison to the world: 123
Electricity - installed generating capacity [time series]
171,000 kW (2015 est.) | country comparison to the world: 167
Electricity - production [time series]
662 million kWh (2015 est.) | country comparison to the world: 160
Electricity access [time series]
electrification - total population: 100% (2016)
Natural gas - consumption [time series]
0 cu m (2013 est.) | country comparison to the world: 157
Natural gas - exports [time series]
0 cu m (2013 est.) | country comparison to the world: 67
Natural gas - imports [time series]
0 cu m (2014 est.) | country comparison to the world: 90
Natural gas - production [time series]
0 cu m (2014 est.) | country comparison to the world: 107
Natural gas - proved reserves [time series]
0 cu m (1 January 2014 es) | country comparison to the world: 114
Refined petroleum products - consumption [time series]
3,300 bbl/day (2015 est.) | country comparison to the world: 185
Refined petroleum products - exports [time series]
0 bbl/day (2014 est.) | country comparison to the world: 133
Refined petroleum products - imports [time series]
2,968 bbl/day (2014 est.) | country comparison to the world: 180
Refined petroleum products - production [time series]
0 bbl/day (2014 est.) | country comparison to the world: 119
Geography
Area [time series]
total: 54 sq km | land: 54 sq km | water: 0 sq km | country comparison to the world: 233
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 [time series]
mean elevation: NA | elevation extremes: lowest point: Atlantic Ocean 0 m | highest point: Town Hill 79 m
Environment - current issues [time series]
dense population and heavy vehicle traffic create serious pollution problems; water resources scarce (most obtained as rainwater or from wells); there is no sewage treatment on the island
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
Population distribution (Population - distribution) [time series]
relatively even population distribution throughout
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 2012 (2017)
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, an early 16th century Spanish sea captain and the first European explorer of the archipelago
Dependency status [time series]
overseas territory of the UK
Diplomatic representation from the US [time series]
chief of mission: Consul General Mary Ellen KOENIG (since 28 November 2015) | 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 John RANKIN (since 5 December 2016) | head of government: Premier David BURT (since 19 July 2017) | 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 democracy (Parliament); self-governing overseas territory of the UK
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 at least 2 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 based on terms of appointment | 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; 3 members appointed by the governor, 5 by the premier, and 3 by the opposition party; members 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 18 July 2017 (next to be held not later than 2022) | election results: percent of vote by party - PLP 58.9%, OBA 40.6%, other 0.5%; seats by party - PLP 24, OBA 12
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; note - formerly known as Victoria Day, Empire Day, and Commonwealth Day
National symbol(s) [time series]
red lion
Political parties (Political parties and leaders) [time series]
One Bermuda Alliance or OBA [interim leader, Patricia GORDON-PAMPLIN] | Progressive Labor Party or PLP [David BURT]
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 [Patrick TANNOCK] | Bermuda Employers' Council [Keith JENSEN] | Bermuda Industrial Union or BIU [Chris FURBERT] | Bermuda Public Services Union or BPSU [Kevin GRANT, Edward G. BALL, Jr.] | 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 and Security
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: 17.04% (male 6,104/female 5,974) | 15-24 years: 12% (male 4,300/female 4,207) | 25-54 years: 37.24% (male 13,230/female 13,163) | 55-64 years: 15.73% (male 5,244/female 5,902) | 65 years and over: 17.98% (male 5,395/female 7,345) (2017 est.)
Birth rate [time series]
11.3 births/1,000 population (2017 est.) | country comparison to the world: 173
Death rate [time series]
8.6 deaths/1,000 population (2017 est.) | country comparison to the world: 75
Education expenditure (Education expenditures) [time series]
1.7% of GDP (2015) | 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: 2.5 deaths/1,000 live births | male: 2.6 deaths/1,000 live births | female: 2.4 deaths/1,000 live births (2017 est.) | country comparison to the world: 219
Languages [time series]
English (official), Portuguese
Life expectancy at birth [time series]
total population: 81.4 years | male: 78.2 years | female: 84.6 years (2017 est.) | country comparison to the world: 26
Major urban areas - population [time series]
HAMILTON (capital) 10,000 (2014)
Median age [time series]
total: 43.4 years | male: 41.5 years | female: 45.3 years (2017 est.) | country comparison to the world: 18
Nationality [time series]
noun: Bermudian(s) | adjective: Bermudian
Net migration rate [time series]
1.8 migrant(s)/1,000 population (2017 est.) | country comparison to the world: 51
Population [time series]
70,864 (July 2017 est.) | country comparison to the world: 203
Population distribution [time series]
relatively even population distribution throughout
Population growth rate [time series]
0.45% (2017 est.) | country comparison to the world: 155
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%, Brethren 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: 12 years (2015)
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 (2016 est.)
Total fertility rate [time series]
1.93 children born/woman (2017 est.) | country comparison to the world: 129
Youth unemployment rate (ages 15-24) (Unemployment, youth ages 15-24) [time series]
total: 29.3% | male: 29.7% | female: 29% (2014 est.)
Urbanization [time series]
urban population: 100% of total population (2017) | rate of urbanization: 0.16% annual rate of change (2015-20 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 (2017)
Civil aircraft registration country code prefix [time series]
VP-B (2016)
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: 42
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