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2023
Flag → Flag
Exports $53.2MRnk 109 / 215
2023
Flag → Flag
Top Product $23MRefined Petroleum
2023
Flag → Flag
Exports $693kRnk 9 / 90
2023
Flag → Flag
Top Product $299kVaccines, blood, antisera, toxins and cultures
2023
Flag
Economic Complexity (ECI) ECI 0.9Rnk 30 / 132
2023
Flag  
GDP$2.14TCURRENT US$
Rnk 10 / 195
2013-2023
Flag
GDP GROWTH16%CURRENT US$
Rnk 150 / 195
2023
Flag
 GDP$8.14BCURRENT US$
Rnk 153 / 195
2013-2023
Flag
GDP GROWTH25.9%CURRENT US$
Rnk 123 / 195
2023
Flag
GDP PC $53,431CURRENT US$
Rnk 22 / 195
2013-2023
Flag
GDP PC GROWTH1.51%CURRENT US$
Rnk 152 / 195
2023
Flag
GDP PC$125,842CURRENT US$
Rnk 3 / 196
2013-2023
Flag
GDP PC GROWTH23.7%CURRENT US$
Rnk 91 / 195

About

Canada-Bermuda Trade: In 2023, Canada exported $53.2M to Bermuda. The main products that Canada exported to Bermuda were Refined Petroleum ($23M), Packaged Medicaments ($6.01M), and Other Furniture ($3.33M). Over the past 5 years the exports of Canada to Bermuda have decreased at an annualized rate of 12.2%, from $102M in 2018 to $53.2M in 2023.

In 2020, Canada exported services to Bermuda worth $797M, with Insurance services ($640M), Construction services ($73.1M), and Travel ($30.6M) being the largest in terms of value.

Bermuda-Canada Trade: In 2023, Bermuda exported $693k to Canada. The main products that Bermuda exported to Canada were Vaccines, blood, antisera, toxins and cultures ($299k), Hard Liquor ($228k), and Precious Metal Scraps ($44.9k). Over the past 5 years the exports of Bermuda to Canada have decreased at an annualized rate of 18.9%,  from $1.97M in 2018 to $693k in 2023.

In 2023, Bermuda did not export any services to Canada.

Comparison In 2023,  Canada ranked 30 in the Economic Complexity Index (ECI 0.9),  and 10 in total exports ($574B). That same year, Bermuda ranked 179 in total exports ($254M), and does not have data regarding Economic Complexity Index.

Latest Trends

November, 2024

About

Overview In November 2024, Canada exported C$15.9M and imported C$15.6k from Bermuda, resulting in a positive trade balance of C$15.9M. Between November 2023 and November 2024 the exports of Canada have increased by C$12M (304%) from C$3.94M to C$15.9M, while imports decreased by C$-36.4k (-70%) from C$52k to C$15.6k.

Trade In November 2024, the top exports of Canada to Bermuda were Refined Petroleum (C$14.9M), Other Furniture (C$382k), Railway Cargo Containers (C$367k), Motorcycles and cycles (C$286k), and Other Heating Machinery (C$256k). In November 2024 the top imports of Canada from Bermuda were Hard Liquor (C$15.7k), Perfumes (C$4.16k), Orthopedic Appliances (C$832), Beauty Products (C$516), and Soap (C$246).

Origins In November 2024 the exports of Canada were mainly from Quebec (C$12.4M), Ontario (C$3.38M), New Brunswick (C$51.3k), Nova Scotia (C$49.3k), and Manitoba (C$24.5k), while imports destinations were mainly Ontario (C$15.5k), Quebec (C$69), and Manitoba (C$2).

Growth In November 2024, the increase in Canada's year-by-year exports to Bermuda was explained primarily by an increase in product exports in Other Furniture (C$259k or 209%), Packaged Medicaments (C$54k or 42.1%), and Centrifuges (C$48.6k or 1.03k%). In November 2024, the decrease in Canada's year-by-year imports  from Bermuda was explained primarily by an decrease in product imports  in Commodities not elsewhere specified (C$-628 or -87%), Pastes and Waxes (C$-23 or -95.8%), and Brochures (C$-21 or -67.7%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)C$12M(304%)
IMPORT GROWTH (November 2023 - November 2024)C$-36.4k(-70%)
MAIN EXPORTER (November 2024)QuebecC$12.4M

This section shows exports and imports data at subnational level for Canada. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Canada over time.

To check Bermuda and Canada trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Canada exported $53.2M to Bermuda. The main products exported from Canada to Bermuda were Refined Petroleum ($23M), Packaged Medicaments ($6.01M), and Other Furniture ($3.33M). During the last 5 years the exports of Canada to Bermuda have decreased at an annualized rate of 12.2%, from $102M in 2018 to $53.2M in 2023.

In 2018, Bermuda exported $693k to Canada. The main products exported from Bermuda to Canada were Vaccines, blood, antisera, toxins and cultures ($299k), Hard Liquor ($228k), and Precious Metal Scraps ($44.9k). During the last 5 years the exports of Bermuda to Canada have decreased at an annualized rate of 18.9%, from $1.97M in 2023 to $693k in 2018.

Exports from Canada (Flag) to Bermuda (Flag) (2023)

Exports from Bermuda (Flag) to Canada (Flag) (2023)

Market Competitiveness

Color
Canada
Top DestinationUnited States$410B
Bermuda
Top DestinationGermany$101M

This map shows whether countries import more from Canada or Bermuda. Each country is colored based on the difference in imports they receive from Canada and Bermuda or the difference in the growth in imports.

In 2023, countries that imported more from Canada than Bermuda included United States ($410B), China ($31.1B), and United Kingdom ($18B).

In 2023, no countries were registered that imported more from Bermuda than from Canada.

Difference in imports from Bermuda (Flag) and Canada (Flag) (2023)

Comparative Advantage Canada - Bermuda

Flow
Scale

This chart compares trade between Canada and Bermuda by product, considering products traded by both, Canada and Bermuda.

During 2023, Canada had a large net trade with Bermuda in the exports of Mineral Products ($23.9M), Chemical Products ($7.48M), and Miscellaneous ($3.93M).

During 2018, Bermuda had a large net trade with Canada in the exports of Chemical Products ($316k), Foodstuffs ($229k), and Machines ($58.7k).

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Canada and Bermuda. This means that a dot/product with the flag of Canada indicates it has a comparative advantage over Bermuda. Similarly, a dot/product with the flag of Bermuda indicates it has a comparative advantage over Canada.

Product Space of Canada (Flag) and Bermuda (Flag) (2023)

Keep Exploring

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