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: 69,126 (July 2016 est.) | percent of population: 98% (July 2016 est.)

Telephone system

general assessment: a good, fully automatic digital telephone system with fiber-optic trunk lines; telecom sector provides a relatively high contribution to overall GDP; numerous competitors licensed, but small and localized (2017) | domestic: the system has a high fixed-line teledensity 31 per 100, coupled with a mobile-cellular teledensity of roughly 92 per 100 persons (2017) | 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: 21,883 (2017 est.) | subscriptions per 100 inhabitants: 31 (2017 est.)

Telephones - mobile cellular

total subscriptions: 64,997 (2017 est.) | subscriptions per 100 inhabitants: 92 (2017 est.)

Agriculture - products

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

Budget

revenues: 999.2 million (2017 est.) | expenditures: 1.176 billion (2017 est.)

Budget surplus (+) or deficit (-)

-2.9% (of GDP) (2017 est.)

Current account balance

$818.6 million (2017 est.) | $763 million (2016 est.)

Debt - external

$2.515 billion (2017 est.) | $2.435 billion (2015 est.)

Economy - overview

International business, which consists primarily of insurance and other financial services, is the real bedrock of Bermuda's economy, consistently accounting for about 85% of the island's GDP. Tourism is the country’s second largest industry, accounting for about 5% of Bermuda's GDP but a much larger share of employment. Over 80% of visitors come from the US and the sector struggled in the wake of the global recession of 2008-09. Even the financial sector 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 returned to negative growth in 2016, reporting a contraction of 0.1% GDP, after growing by 0.6% in 2015. Unemployment reached 7% in 2016 and 2017, public debt is growing and exceeds $2.4 billion, and the government continues to work on attracting foreign investment. Still, Bermuda enjoys one of the highest per capita incomes in the world.

Exchange rates

Bermudian dollars (BMD) per US dollar - | 1 (2017 est.) | 1 (2016 est.) | 1 (2015 est.) | 1 (2014 est.) | 1 (2013 est.)

Exports

$19 million (2017 est.) | $19 million (2016 est.)

Exports - commodities

reexports of pharmaceuticals

Exports - partners

Jamaica 49.1%, Luxembourg 36.1%, US 4.9% (2017)

Fiscal year

1 April - 31 March

GDP (official exchange rate)

$6.127 billion (2016 est.) (2016 est.)

GDP (purchasing power parity)

$6.127 billion (2016 est.) | $6.133 billion (2015 est.) | $6.097 billion (2014 est.)

GDP - composition, by end use

household consumption: 51.3% (2017 est.) | government consumption: 15.7% (2017 est.) | investment in fixed capital: 13.7% (2017 est.) | investment in inventories: 0% (2017 est.) | exports of goods and services: 49.8% (2017 est.) | imports of goods and services: -30.4% (2017 est.)

GDP - composition, by sector of origin

agriculture: 0.9% (2017 est.) | industry: 5.3% (2017 est.) | services: 93.8% (2017 est.)

GDP - per capita (PPP)

$99,400 (2016 est.) | $95,500 (2015 est.) | $87,500 (2014 est.)

GDP - real growth rate

-0.1% (2016 est.) | 0.6% (2015 est.) | -0.3% (2014 est.)

Household income or consumption by percentage share

lowest 10%: NA | highest 10%: NA

Imports

$1.094 billion (2017 est.) | $980 million (2016 est.)

Imports - commodities

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

Imports - partners

US 72.1%, South Korea 9.7%, Canada 4.2% (2017)

Industrial production growth rate

2% (2017 est.)

Industries

international business, tourism, light manufacturing

Inflation rate (consumer prices)

1.9% (2017 est.) | 1.4% (2016 est.)

Labor force

33,480 (2016 est.)

Labor force - by occupation

agriculture: 2% | industry: 13% | services: 85% (2016 est.)

Market value of publicly traded shares

$1.85 billion (31 December 2015 est.) | $1.601 billion (31 December 2014 est.) | $1.467 billion (31 December 2013 est.)

Population below poverty line

11% (2008 est.)

Public debt

43% of GDP (FY14/15)

Stock of broad money

$22.1 billion (30 September 2014 est.) | $25.1 billion (31 December 2013 est.)

Stock of direct foreign investment - abroad

$889 million (2014 est.) | $835 million (2013 est.)

Stock of direct foreign investment - at home

$2.641 billion (2014 est.) | $2.664 billion (2013 est.)

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

Taxes and other revenues

16.3% (of GDP) (2017 est.)

Unemployment rate

7% (2017 est.) | 7% (2016 est.)

Carbon dioxide emissions from consumption of energy

793,700 Mt (2017 est.)

Crude oil - exports

0 bbl/day (2015 est.)

Crude oil - imports

0 bbl/day (2015 est.)

Crude oil - production

0 bbl/day (2017 est.)

Crude oil - proved reserves

0 bbl (1 January 2018 est.)

Electricity - consumption

604.5 million kWh (2016 est.)

Electricity - exports

0 kWh (2016 est.)

Electricity - from fossil fuels

100% of total installed capacity (2016 est.)

Electricity - from hydroelectric plants

0% of total installed capacity (2017 est.)

Electricity - from nuclear fuels

0% of total installed capacity (2017 est.)

Electricity - from other renewable sources

0% of total installed capacity (2017 est.) | note: the Tynes Bay Waste Treatment Facility turns waste to electric energy

Electricity - imports

0 kWh (2016 est.)

Electricity - installed generating capacity

171,000 kW (2016 est.)

Electricity - production

650 million kWh (2016 est.)

Electricity access

electrification - total population: 100% (2016)

Natural gas - consumption

0 cu m (2017 est.)

Natural gas - exports

0 cu m (2017 est.)

Natural gas - imports

0 cu m (2017 est.)

Natural gas - production

0 cu m (2017 est.)

Natural gas - proved reserves

0 cu m (1 January 2014 est.)

Refined petroleum products - consumption

5,000 bbl/day (2016 est.)

Refined petroleum products - exports

0 bbl/day (2015 est.)

Refined petroleum products - imports

3,939 bbl/day (2015 est.)

Refined petroleum products - production

0 bbl/day (2017 est.)

Area

total: 54 sq km | land: 54 sq km | water: 0 sq km

Area - comparative

about one-third the size of Washington, DC

Climate

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

Coastline

103 km

Elevation

0 m lowest point: Atlantic Ocean | 79 highest point: Town Hill

Environment - current issues

dense population and heavy vehicle traffic create serious congestion and air pollution problems; water resources scarce (most obtained as rainwater or from wells); solid waste disposal; hazardous waste disposal; sewage disposal; overfishing; oil spills

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% (2011 est.) | arable land: 14.8% (2011 est.) / permanent crops: 0% (2011 est.) / permanent pasture: 0% (2011 est.) | forest: 20% (2011 est.) | 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

history: several previous (dating to 1684); latest entered into force 8 June 1968 (Bermuda Constitution Order 1968) (2018) | amendments: proposal procedure - NA; passage by an Order in Council in the UK; amended several times, last in 2012 (2018)

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 Mary Ellen KOENIG (since 28 November 2015) | 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 | consulate(s) general: Crown Hill, 16 Middle Road, Devonshire DVO3

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 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 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 courts: 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: 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) House of Assembly (36 seats; members directly elected in single-seat constituencies by simple majority vote to serve up to 5-year terms) | elections: House of Assembly - 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

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; note - formerly known as Victoria Day, Empire Day, and Commonwealth Day

National symbol(s)

red lion

Political parties and leaders

One Bermuda Alliance or OBA (vacant) Progressive Labor Party or PLP [E. David BURT]

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: 16.92% (male 6,088 /female 5,957) | 15-24 years: 11.95% (male 4,306 /female 4,197) | 25-54 years: 36.56% (male 13,049 /female 12,972) | 55-64 years: 16.04% (male 5,383 /female 6,034) | 65 years and over: 18.53% (male 5,596 /female 7,594) (2018 est.) | population pyramid: The World Factbook Field Image Modal × North America :: Bermuda Print Image Description This is the population pyramid for Bermuda. A population pyramid illustrates the age and sex structure of a country's population and may provide insights about political and social stability, as well as economic development. The population is distributed along the horizontal axis, with males shown on the left and females on the right. The male and female populations are broken down into 5-year age groups represented as horizontal bars along the vertical axis, with the youngest age groups at the bottom and the oldest at the top. The shape of the population pyramid gradually evolves over time based on fertility, mortality, and international migration trends. For additional information, please see the entry for Population pyramid on the Definitions and Notes page under the References tab.

Birth rate

11.3 births/1,000 population (2018 est.)

Death rate

8.7 deaths/1,000 population (2018 est.)

Education expenditures

1.5% of GDP (2017)

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 (2018 est.) | male: 2.6 deaths/1,000 live births (2018 est.) | female: 2.4 deaths/1,000 live births (2018 est.)

Languages

English (official), Portuguese

Life expectancy at birth

total population: 81.5 years (2018 est.) | male: 78.3 years (2018 est.) | female: 84.7 years (2018 est.)

Major urban areas - population

10,000 HAMILTON (capital) (2018)

Median age

total: 43.5 years | male: 41.5 years | female: 45.4 years (2018 est.)

Nationality

noun: Bermudian(s) | adjective: Bermudian

Net migration rate

1.8 migrant(s)/1,000 population (2017 est.)

Population

71,176 (July 2018 est.)

Population distribution

relatively even population distribution throughout

Population growth rate

0.43% (2018 est.)

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 (2015) | male: 11 years (2015) | female: 12 years (2015)

Sex ratio

at birth: 1.02 male(s)/female (2017 est.) | 0-14 years: 1.02 male(s)/female (2017 est.) | 15-24 years: 1.01 male(s)/female (2017 est.) | 25-54 years: 1 male(s)/female (2017 est.) | 55-64 years: 0.89 male(s)/female (2017 est.) | 65 years and over: 0.73 male(s)/female (2017 est.) | total population: 0.94 male(s)/female (2017 est.)

Total fertility rate

1.92 children born/woman (2018 est.)

Unemployment, youth ages 15-24

total: 29.3% (2014 est.) | male: 29.7% (2014 est.) | female: 29% (2014 est.)

Urbanization

urban population: 100% of total population (2018) | rate of urbanization: -0.44% annual rate of change (2015-20 est.)

Disputes - international

none

Airports

1 (2013)

Airports - with paved runways

total: 1 (2017) | 2,438 to 3,047 m: 1 (2017)

Civil aircraft registration country code prefix

VP-B (2016)

Merchant marine

total: 160 (2017) | by type: bulk carrier 10, container ship 8, general cargo 1, oil tanker 18, other 123 (2017)

Ports and terminals

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

Roadways

total: 447 km (2010) | paved: 447 km (2010) | note: 225 km public roads; 222 km private roads