Flag United States / Bermuda Flag

2019
Flag β†’ Flag  
Exports
: $579M, Rnk 89 / 218

2019
Flag β†’ Flag
Top Product
: $105M, Refined Petroleum

2019
Flag β†’ Flag
Exports
: $24.2M, Rnk 4 / 82

2019
Flag β†’ Flag
Top Product
: $9.87M, Specialized Vehicles

2019
Flag
Economic Complexity (ECI)
: ECI 1.63, Rnk 10 / 157

2019
Flag  
GDP
: $21.4T, CURRENT US$
Rnk 1 / 187

2009-2019
Flag
GDP GROWTH
: 48.3%, CURRENT US$
Rnk 96 / 187

2019
Flag
 GDP
: $7.48B, CURRENT US$
Rnk 147 / 187

2009-2019
Flag
GDP GROWTH
: 12.4%, CURRENT US$
Rnk 159 / 187

2019
Flag
GDP PC 
: $65,298, CURRENT US$
Rnk 8 / 187

2009-2019
Flag
GDP PC GROWTH
: 38.6%, CURRENT US$
Rnk 76 / 187

2019
Flag
GDP PC 
: $117,089, CURRENT US$
Rnk 1 / 187

2009-2019
Flag
GDP PC GROWTH
: 15.5%, CURRENT US$
Rnk 127 / 187

United States-Bermuda: In 2019, United States exported $579M to Bermuda. The main products that United States exported to Bermuda are Refined Petroleum ($105M), Paintings ($21.7M), and Other Furniture ($11.6M). During the last 24 years the exports of United States to Bermuda have increased at an annualized rate of 1.33%, from $421M in 1995 to $579M in 2019.

In 2017, United States exported services to Bermuda worth $7.21B, with Insurance services ($2.76B), Other business services ($1.86B), and Royalties and license fees ($1.66B) being the largest in terms of value.

Bermuda-United States: In 2019, Bermuda exported $24.2M to United States . The main products that Bermuda exported to United States were Specialized Vehicles ($9.87M), Non-fillet Frozen Fish ($2.51M), and Hard Liquor ($1.86M). During the last 24 years the exports of Bermuda to United States have increased at an annualized rate of 7.91%, from $3.89M in 1995 to $24.2M in 2019.

In 2019, Bermuda did not exported services to United States.

Comparison: In 2019,  United States ranked 10 in the Economic Complexity Index (ECI 1.63),  and 2 in total exports ($1.51T). That same year, Bermuda ranked 165 in total exports ($574M), and does not have data regarding Economic Complexity Index.

Bilateral Trade by Products

#permalink to section
Depth
Value

In 2019, United States exported $579M to Bermuda. The main products exported from United States to Bermuda were Refined Petroleum ($105M), Paintings ($21.7M), and Other Furniture ($11.6M). During the last 24 years the exports of United States to Bermuda have increased at an annualized rate of 1.33%, from $421M in 1995 to $579M in 2019.

In 2019, Bermuda exported $24.2M to United States. The main products exported from Bermuda to United States were Specialized Vehicles ($9.87M), Non-fillet Frozen Fish ($2.51M), and Hard Liquor ($1.86M). During the last 24 years the exports of Bermuda to United States have increased at an annualized rate of 7.91%, from $3.89M in 1995 to $24.2M in 2019.

Market Competitiveness

#permalink to section
Measure

United States
Top Destination
: Canada, $252B

Bermuda
Top Destination
: Ireland, $436M

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

In 2019, countries that imported more from United States than Bermuda were Canada ($252B), Mexico ($235B), and China ($103B).

In 2019, no countries were registered that imported more from Bermuda than from United States.

Comparative Advantage United States - Bermuda

#permalink to section
Depth

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

During 2019, United States had a large net trade with Bermuda in the exports of Mineral Products ($112M), Machines ($94.2M), and Foodstuffs ($63.9M).

During 2019, Bermuda had a large net trade with United States in the exports of Transportation ($11.1M), Animal Products ($2.75M), and Foodstuffs ($2.05M).

Tariff Section

#permalink to section

This section shows import tariffs for products traded between United States and Bermuda (using the HS6 product classification and the last year reported).

In 2018, the products from United States that paid the highest import tariffs to enter Bermuda were Tobacco: smoking, other than water pipe tobacco, whether or not containing tobacco substitutes in any proportion (350%) and Homogenized or reconstituted tobacco (350%).

In 2018, the products from Bermuda that paid the highest import tariffs to enter United States were Other Vehicles Including Gas Turbine Powered (75%) and Motor vehicle chassis fitted with engine (75%).

Explore Tariff Data

*The tariffs present between United States and Bermuda are:
136: Most Favoured Nation duty rate treatement
136: Most Favoured Nation duty rate treatement

Bilateral Service Trade

#permalink to section

In 2017, United States exported services to Bermuda worth $7.21B, with Insurance services ($2.76B), Other business services ($1.86B), and Royalties and license fees ($1.66B) being the largest in terms of value.

Service trade data is presented based on availability.

Economic Complexity

#permalink to section

Competitive Landscape

#permalink to section

This visualization show the product space at the HS4 level colored from blue to red.  This mean that the more blue a dot/product is, the more United States has comparative advantage over Bermuda. Similarly, the more red a dot/product is, the more Bermuda has comparative advantage over United States.