Current account balance in Bermuda
Bermuda: Current account balance was 15.3% in 2023. ▼ Falling
Current account balance in Bermuda, 2006–2023
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
The most recent figure for current account balance in Bermuda is 15.3%, measured in 2023.
That represents a change of up 5.1% on the previous year and up 18.0% over ten years.
Over the whole period, current account balance in Bermuda peaked at 20.4% in 2006 and was at its lowest, 8.7%, in 2009.
Bermuda ranks 12th of 199 countries on this measure, in the top 10%.
The long-run direction has been consistently falling across the 18 years of available data.
Current account balance in Bermuda, year by year
| Year | % of GDP | Change |
|---|---|---|
| 2006 | 20.4% | — |
| 2007 | 18.0% | -11.8% |
| 2008 | 13.0% | -27.7% |
| 2009 | 8.7% | -32.8% |
| 2010 | 10.5% | +20.1% |
| 2011 | 13.7% | +31.0% |
| 2012 | 14.5% | +5.7% |
| 2013 | 13.0% | -10.5% |
| 2014 | 12.7% | -2.0% |
| 2015 | 14.2% | +11.2% |
| 2016 | 12.3% | -13.5% |
| 2017 | 13.2% | +7.4% |
| 2018 | 12.3% | -6.5% |
| 2019 | 11.3% | -8.2% |
| 2020 | 12.4% | +9.7% |
| 2021 | 13.2% | +6.5% |
| 2022 | 14.6% | +10.7% |
| 2023 | 15.3% | +5.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 15.0% | 8.7% | 20.4% | 4 |
| 2010s | 12.8% | 10.5% | 14.5% | 10 |
| 2020s | 13.9% | 12.4% | 15.3% | 4 |
Countries ranked near Bermuda
More economy & growth data for Bermuda
- Gross value added at basic prices (GVA) (constant LCU), per capita 105,450 constant LCU per person (2024)
- Gross value added at basic prices (GVA) (current LCU), per unit of GDP 0.9638 current LCU per US$ of GDP (2024)
- Gross value added at basic prices (GVA) (current LCU), per capita 137,106 current LCU per person (2024)
- Gross value added at basic prices (GVA) (constant 2015 US$), annual 1.92 % change on previous year (2024)
- Gross value added at basic prices (GVA) (constant 2015 US$), per unit 0.7902 constant 2015 US$ per US$ of GDP (2024)
- Gross value added at basic prices (GVA) (constant 2015 US$), per 112,409 constant 2015 US$ per person (2024)
- Gross value added at basic prices (GVA) (constant LCU), annual growth 1.92 % change on previous year (2024)
- Gross value added at basic prices (GVA) (constant LCU), per unit of 0.7413 constant LCU per US$ of GDP (2024)
- GDP (constant 2015 US$), per unit of GDP 0.8191 constant 2015 US$ per US$ of GDP (2024)
- GDP (constant 2015 US$), annual growth rate 1.89 % change on previous year (2024)
Frequently asked questions
- What is current account balance in Bermuda?
- Current account balance in Bermuda was 15.3% in 2023, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest current account balance recorded in Bermuda?
- The highest recorded value was 20.4% in 2006.
- What is the lowest current account balance recorded in Bermuda?
- The lowest recorded value was 8.7% in 2009.
- How does Bermuda rank for current account balance?
- Bermuda ranks 12th out of 199 countries with data for 2023.
- Is current account balance rising or falling in Bermuda?
- Over the last ten years it is up 18.0%. The long-run trend across the full record is falling.
- Where does this Bermuda data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Current account balance (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Balance of current transactions (transactions in goods and services, earned income and transfer income) between residents and non-residents. The term current account balance is used in the external accounts and is expressed from the perspective of resident units. The term current external balance is used in the national accounts and is expressed from the perspective of the non-resident units, and therefore with the opposite sign. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.