Overview: In 2019 Bermuda was the number 147 economy in the world in terms of GDP (current US$), the number 165 in total exports, the number 171 in total imports,
the number 1 economy in terms of GDP per capita (current US$) and the number null most complex economy according to the Economic Complexity Index (ECI).
In 2019, Bermuda exported a total of $574M, making it the number 165 exporter in the world. During the last five reported years the exports of Bermuda have changed by $520M from $54.1M in 2014 to $574M in 2019.
In 2019 Bermuda imported $1.31B, making it the number 171 trade destination in the world. During the last five reported years the imports of Bermuda changed by -$1.81B from $3.12B in 2014 to $1.31B in 2019.
In 2017, Bermuda exported $1.33B worth of services. The top services exported by Bermuda in 2017 were Miscellaneous business, professional, and technical services ($443M), Personal travel ($408M), Financial services ($172M), Business travel ($105M), and Other government services ($54.6M).
The top services imported by Bermuda in 2017 were Personal travel ($244M), Miscellaneous business, professional, and technical services ($194M), Sea transport ($154M), Air transport ($117M), and Financial services ($50.5M).
The top export opportunities for Bermuda according to the relatedness index, are Crude Petroleum (0.033), Non-fillet Fresh Fish (0.032), Fish Fillets (0.032), Scrap Iron (0.031), and Scrap Vessels (0.03). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Bermuda is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
This network shows the products most related to the production structure of Bermuda. These are products that tend to be co-exported with the products that Bermuda exports. Higher relatedness values indicate greater knowledge, which predicts a greater probability of exporting that product in the future.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities.
Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.