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2023
Flag → Flag
Exports $490MRnk 105 / 220
2023
Flag → Flag
Top Product $52.5MRefined Petroleum
2023
Flag → Flag
Exports $5.9MRnk 4 / 90
2023
Flag → Flag
Top Product $2.02MHard Liquor
2023
Flag
Economic Complexity (ECI) ECI 1.5Rnk 10 / 132
2023
Flag  
GDP$27.7TCURRENT US$
Rnk 1 / 195
2013-2023
Flag
GDP GROWTH64.2%CURRENT US$
Rnk 44 / 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 $82,769CURRENT US$
Rnk 9 / 195
2013-2023
Flag
GDP PC GROWTH55%CURRENT US$
Rnk 40 / 195
2023
Flag
GDP PC$125,842CURRENT US$
Rnk 3 / 196
2013-2023
Flag
GDP PC GROWTH23.7%CURRENT US$
Rnk 91 / 195

About

United States-Bermuda Trade: In 2023, United States exported $490M to Bermuda. The main products that United States exported to Bermuda were Refined Petroleum ($52.5M), Recreational Boats ($23.4M), and Broadcasting Equipment ($14.7M). Over the past 5 years the exports of United States to Bermuda have decreased at an annualized rate of 4.93%, from $631M in 2018 to $490M in 2023.

In 2017, United States exported services to Bermuda worth $11.3B, with Financial services ($4.12B), Insurance services ($2.92B), and Royalties and license fees ($1.99B) being the largest in terms of value.

Bermuda-United States Trade: In 2023, Bermuda exported $5.9M to United States. The main products that Bermuda exported to United States were Hard Liquor ($2.02M), Scrap Iron ($946k), and Paintings ($555k). Over the past 5 years the exports of Bermuda to United States have decreased at an annualized rate of 15.6%,  from $13.8M in 2018 to $5.9M in 2023.

In 2023, Bermuda did not export any services to United States.

Comparison In 2023,  United States ranked 10 in the Economic Complexity Index (ECI 1.5),  and 2 in total exports ($1.86T). That same year, Bermuda ranked 179 in total exports ($254M), and does not have data regarding Economic Complexity Index.

Company data: In 2023, leading companies such as Celebrity Cruises (93), Heineken (6), and Amazon (1) were at the forefront of exporting goods from Bermuda to the United States. Conversely, Celebrity Cruises Inc. (92), Burrows Lightbourn Ltd. (6), and Unknown (1) were notable for importing products to Bermuda from the United States.

Latest Trends

November, 2024

About

Overview In November 2024, United States exported $51.3M and imported $1.73M from Bermuda, resulting in a positive trade balance of $49.6M. Between November 2023 and November 2024 the exports of United States have decreased by $-3.22M (-5.91%) from $54.5M to $51.3M, while imports decreased by $-813k (-31.9%) from $2.55M to $1.73M.

Trade In November 2024, the top exports of United States to Bermuda were Refined Petroleum ($7.6M), Commodities not elsewhere specified ($5.91M), Knit Men's Shirts ($2.87M), Knit T-shirts ($2.26M), and Telephones ($1.97M). In November 2024 the top imports of United States from Bermuda were Commodities not elsewhere specified ($1.91M), Hard Liquor ($289k), Medical Instruments ($37k), Scrap Lead ($6.18k), and Chemical Analysis Instruments ($6k).

Origins In November 2024 the exports of United States were mainly from Florida ($14.6M), New Jersey ($6.84M), Pennsylvania ($3.61M), New York ($3.48M), and Rhode Island ($2M), while imports destinations were mainly Indiana ($647k), Virginia ($288k), Alaska ($128k), New Jersey ($126k), and Florida ($124k).

Growth In November 2024, the decrease in United States's year-by-year exports to Bermuda was explained primarily by an decrease in product exports in Recreational Boats ($-1.12M or -97.7%), Liquid Dispersing Machines ($-848k or -98%), and Aluminium Structures ($-679k or -82.7%). In November 2024, the decrease in United States's year-by-year imports  from Bermuda was explained primarily by an decrease in product imports  in .

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)$-3.22M(-5.91%)
IMPORT GROWTH (November 2023 - November 2024)$-813k(-31.9%)
MAIN EXPORTER (November 2024)Florida$14.6M

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

To check Bermuda and United States trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, United States exported $490M to Bermuda. The main products exported from United States to Bermuda were Refined Petroleum ($52.5M), Recreational Boats ($23.4M), and Broadcasting Equipment ($14.7M). During the last 5 years the exports of United States to Bermuda have decreased at an annualized rate of 4.93%, from $631M in 2018 to $490M in 2023.

In 2018, Bermuda exported $5.9M to United States. The main products exported from Bermuda to United States were Hard Liquor ($2.02M), Scrap Iron ($946k), and Paintings ($555k). During the last 5 years the exports of Bermuda to United States have decreased at an annualized rate of 15.6%, from $13.8M in 2023 to $5.9M in 2018.

Exports from United States (Flag) to Bermuda (Flag) (2023)

Exports from Bermuda (Flag) to United States (Flag) (2023)

Market Competitiveness

Color
United States
Top DestinationCanada$269B
Bermuda
Top DestinationGermany$101M

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 2023, countries that imported more from United States than Bermuda included Canada ($269B), Mexico ($243B), and China ($154B).

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

Difference in imports from Bermuda (Flag) and United States (Flag) (2023)

Comparative Advantage United States - Bermuda

Flow
Scale

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

During 2023, United States had a large net trade with Bermuda in the exports of Machines ($99.4M), Foodstuffs ($60M), and Mineral Products ($54.7M).

During 2018, Bermuda had a large net trade with United States in the exports of Foodstuffs ($2.02M), Metals ($1.44M), and Instruments ($787k).

Economic Complexity

Competitive Landscape

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

Product Space of United States (Flag) and Bermuda (Flag) (2023)

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