Bermuda

Broadcast media

3 TV stations; cable and satellite TV subscription services are available; roughly 13 radio stations operating (2012)

Internet country code

.bm

Internet users

total: 69,000 | percent of population: 98.3% (July 2015 est.) | country comparison to the world: 179

Telephone system

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

total subscriptions: 29,200 | subscriptions per 100 inhabitants: 42 (July 2014 est.) | country comparison to the world: 173

Telephones - mobile cellular

total: 59,500 | subscriptions per 100 inhabitants: 85 (July 2014 est.) | country comparison to the world: 201

Agriculture - products

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

Budget

revenues: $897.3 million | expenditures: $1.143 billion (2015 est.)

Budget surplus (+) or deficit (-)

-4.7% of GDP (2015 est.) | country comparison to the world: 154

Debt - external

$2.435 billion (2015 est.) | $1.4 billion (2012 est.) | country comparison to the world: 145

Economy - overview

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 amounts of new foreign investment. Bermuda's FY 2015-16 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

Bermudian dollars (BMD) per US dollar - | 1 (2015 est.) | 1 (2014 est.) | 1 (2013 est.) | 1 (2012 est.)

Exports

$19 million (2015 est.) | $22 million (2014 est.) | country comparison to the world: 212

Exports - commodities

reexports of pharmaceuticals

Exports - partners

US 14.4%, Iceland 13.7%, Spain 6.8%, UK 5.8%, Mauritius 5.6% (2015)

Fiscal year

1 April - 31 March

GDP (official exchange rate)

$5.198 billion (2013 est.)

GDP (purchasing power parity)

$5.198 billion (2013 est.) | $5.331 billion (2012 est.) | $5.6 billion (2011 est.) | country comparison to the world: 173

GDP - composition, by end use

household consumption: 50.6% | government consumption: 15.3% | investment in fixed capital: 10.5% | investment in inventories: 0% | exports of goods and services: 46.1% | imports of goods and services: -22.6% (2015 est.)

GDP - composition, by sector of origin

agriculture: 0.7% | industry: 5.8% | services: 93.4% (2015 est.)

GDP - per capita (PPP)

$85,700 (2013 est.) | $85,400 (2012 est.) | $86,000 (2011 est.) | country comparison to the world: 5

GDP - real growth rate

-2.5% (2013 est.) | -4.8% (2012) | -3.5% (2011 est.) | country comparison to the world: 210

Household income or consumption by percentage share

lowest 10%: NA% | highest 10%: NA%

Imports

$934 million (2015 est.) | $969 million (2014 est.) | country comparison to the world: 182

Imports - commodities

clothing, fuels, machinery and transport equipment, construction materials, chemicals, food and live animals

Imports - partners

South Korea 49.5%, US 14.6%, Germany 11.4%, China 9%, Turkmenistan 5.2% (2015)

Industrial production growth rate

2.2% (2015 est.) | country comparison to the world: 96

Industries

international business, tourism, light manufacturing

Inflation rate (consumer prices)

1.4% (2015 est.) | 2% (2014 est.) | country comparison to the world: 102

Labor force

33,490 (2014 est.) | country comparison to the world: 202

Labor force - by occupation

agriculture: 2% | industry: 15% | services: 83% (2013 est.)

Market value of publicly traded shares

$1.487 billion (31 December 2015 est.) | $1.436 billion (31 December 2014 est.) | $1.535 billion (31 December 2013 est.) | country comparison to the world: 101

Population below poverty line

11% (2008 est.)

Public debt

43% of GDP (FY14/15) | country comparison to the world: 107

Stock of broad money

$22.1 billion (30 September 2014 est.) | $25.1 billion (31 December 2013 est.) | country comparison to the world: 87

Stock of direct foreign investment - abroad

$889 million (2014 est.) | $NA (2013 est.) | country comparison to the world: 84

Stock of direct foreign investment - at home

$2.641 billion (2014 est.) | $2.664 billion (2013 est.) | country comparison to the world: 105

Stock of domestic credit

$NA

Stock of narrow money

$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: 112

Taxes and other revenues

17.3% of GDP (2015 est.) | country comparison to the world: 179

Unemployment rate

9% (2014 est.) | 7% (2013) | country comparison to the world: 103

Carbon dioxide emissions from consumption of energy

600,000 Mt (2013 est.) | country comparison to the world: 176

Crude oil - exports

0 bbl/day (2013 est.) | country comparison to the world: 99

Crude oil - imports

0 bbl/day (2014 est.) | country comparison to the world: 160

Crude oil - production

0 bbl/day (2015 est.) | country comparison to the world: 108

Crude oil - proved reserves

0 bbl (1 January 2016 es) | country comparison to the world: 107

Electricity - consumption

600 million kWh (2014 est.) | country comparison to the world: 165

Electricity - exports

0 kWh (2013 est.) | country comparison to the world: 105

Electricity - from fossil fuels

98.2% of total installed capacity (2014 est.) | country comparison to the world: 54

Electricity - from hydroelectric plants

0% of total installed capacity (2014 est.) | country comparison to the world: 161

Electricity - from nuclear fuels

0% of total installed capacity (2014 est.) | country comparison to the world: 49

Electricity - from other renewable sources

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

0 kWh (2013 est.) | country comparison to the world: 120

Electricity - installed generating capacity

167,400 kW (2014 est.) | country comparison to the world: 161

Electricity - production

600 million kWh (2014 est.) | country comparison to the world: 159

Electricity access

electrification - total population: 100% (2016)

Natural gas - consumption

0 cu m (2013 est.) | country comparison to the world: 118

Natural gas - exports

0 cu m (2013 est.) | country comparison to the world: 62

Natural gas - imports

0 cu m (2014 est.) | country comparison to the world: 161

Natural gas - production

0 cu m (2014 est.) | country comparison to the world: 157

Natural gas - proved reserves

0 cu m (1 January 2014 es) | country comparison to the world: 112

Refined petroleum products - consumption

3,300 bbl/day (2014 est.) | country comparison to the world: 174

Refined petroleum products - exports

0 bbl/day (2014 est.) | country comparison to the world: 156

Refined petroleum products - imports

889.3 bbl/day (2015 est.) | country comparison to the world: 200

Refined petroleum products - production

0 bbl/day (2013 est.) | country comparison to the world: 157

Area

total: 54 sq km | land: 54 sq km | water: 0 sq km | country comparison to the world: 232

Area - comparative

about one-third the size of Washington, DC

Climate

subtropical; mild, humid; gales, strong winds common in winter

Coastline

103 km

Elevation

mean elevation: NA | elevation extremes: lowest point: Atlantic Ocean 0 m | highest point: Town Hill 76 m

Environment - current issues

sustainable development

Geographic coordinates

32 20 N, 64 45 W

Geography - note

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

NA

Land boundaries

0 km

Land use

agricultural land: 14.8% | arable land 14.8%; permanent crops 0%; permanent pasture 0% | forest: 20% | other: 65.2% (2011 est.)

Location

North America, group of islands in the North Atlantic Ocean, east of South Carolina (US)

Map references

North America

Maritime claims

territorial sea: 12 nm | exclusive fishing zone: 200 nm

Natural hazards

hurricanes (June to November)

Natural resources

limestone, pleasant climate fostering tourism

Population - distribution

relatively even population distribution throughout

Terrain

low hills separated by fertile depressions

Administrative divisions

9 parishes and 2 municipalities*; Devonshire, Hamilton, Hamilton*, Paget, Pembroke, Saint George*, Saint George's, Sandys, Smith's, Southampton, Warwick

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

Citizenship

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

several previous (dating to 1684); latest entered into force 8 June 1968; amended several times, last in 2012 (2016)

Country name

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

overseas territory of the UK

Diplomatic representation from the US

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

none (overseas territory of the UK)

Executive branch

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 description

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

parliamentary democracy (Parliament); self-governing overseas territory of the UK

Independence

none (overseas territory of the UK)

International law organization participation

has not submitted an ICJ jurisdiction declaration; non-party state to the ICCt

International organization participation

Caricom (associate), ICC (NGOs), Interpol (subbureau), IOC, ITUC (NGOs), UPU, WCO

Judicial branch

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

English common law

Legislative branch

description: bicameral Parliament consists of the Senate (11 seats; members appointed - 3 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 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

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

Bermuda Day, 24 May

National symbol(s)

red lion

Political parties and leaders

One Bermuda Alliance or OBA [Thad HOLLIS] | Progressive Labor Party or PLP [Marc BEAN]

Political pressure groups and leaders

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

18 years of age; universal

Background

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 - note

defense is the responsibility of the UK

Military branches

Bermuda Regiment (2012)

Military service age and obligation

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)

Age structure

0-14 years: 17.17% (male 6,122/female 5,989) | 15-24 years: 12.15% (male 4,311/female 4,258) | 25-54 years: 37.87% (male 13,380/female 13,331) | 55-64 years: 15.38% (male 5,109/female 5,741) | 65 years and over: 17.43% (male 5,194/female 7,102) (2016 est.)

Birth rate

11.3 births/1,000 population (2016 est.) | country comparison to the world: 175

Death rate

8.4 deaths/1,000 population (2016 est.) | country comparison to the world: 81

Education expenditures

1.8% of GDP (2014) | country comparison to the world: 151

Ethnic groups

black 53.8%, white 31%, mixed 7.5%, other 7.1%, unspecified 0.6% (2010 est.)

HIV/AIDS - adult prevalence rate

NA

HIV/AIDS - deaths

NA

HIV/AIDS - people living with HIV/AIDS

NA

Infant mortality rate

total: 2.5 deaths/1,000 live births | male: 2.6 deaths/1,000 live births | female: 2.4 deaths/1,000 live births (2016 est.) | country comparison to the world: 219

Languages

English (official), Portuguese

Life expectancy at birth

total population: 81.3 years | male: 78.1 years | female: 84.5 years (2016 est.) | country comparison to the world: 26

Major urban areas - population

HAMILTON (capital) 10,000 (2014)

Median age

total: 43.2 years | male: 41.4 years | female: 45.1 years (2016 est.) | country comparison to the world: 18

Nationality

noun: Bermudian(s) | adjective: Bermudian

Net migration rate

1.8 migrant(s)/1,000 population (2016 est.) | country comparison to the world: 51

Population

70,537 (July 2016 est.) | country comparison to the world: 204

Population distribution

relatively even population distribution throughout

Population growth rate

0.47% (2016 est.) | country comparison to the world: 162

Religions

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)

total: 12 years | male: 11 years | female: 12 years (2014)

Sex ratio

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

1.94 children born/woman (2016 est.) | country comparison to the world: 129

Unemployment, youth ages 15-24

total: 35.7% | male: 34.8% | female: 36.5% (2012 est.)

Urbanization

urban population: 100% of total population (2015) | rate of urbanization: 0.19% annual rate of change (2010-15 est.)

Disputes - international

none

Airports

1 (2013) | country comparison to the world: 212

Airports - with paved runways

total: 1 | 2,438 to 3,047 m: 1 (2013)

Civil aircraft registration country code prefix

VP-B (2016)

Merchant marine

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 and terminals

major seaport(s): Hamilton, Ireland Island, Saint George

Roadways

total: 447 km | paved: 447 km | note: 225 km public roads; 222 km private roads (2010) | country comparison to the world: 198