Overview: In 2018 Bermuda was the number 172 in total exports and the number 162 in total imports. In 2018, Bermuda exported $199M and imported $1.54B, resulting in a negative trade balance of -$1.34B. In 2018, Bermuda's exports per capita were $3.11k and its imports per capita were $24.1k.
In 2018 Bermuda exported a total of $199M, making it the number 172 exporter in the world. During the last five reported years the exports of Bermuda have changed by -$137M from $336M in 2013 to $199M in 2018.
In 2018 Bermuda imported $1.54B, making it the number 162 trade destination in the world. During the last five reported years the imports of Bermuda changed by -$965M from $2.51B in 2013 to $1.54B in 2018.
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 Base Metal Watches (0.05), Pearls (0.05), Crustaceans (0.047), Postage Stamps (0.047), and Coconut Oil (0.047). 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.
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.