External balance on goods and services as a percent of GDP in Bermuda
Bermuda: External balance on goods and services as a percent of GDP was 30.1% in 2024. ▬ Flat
External balance on goods and services as a percent of GDP in Bermuda, 2010–2024
Source: National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data. Measured in % of GDP.
Analysis
The most recent figure for external balance on goods and services as a percent of gdp in Bermuda is 30.1%, measured in 2024. That is the highest value across all 15 years on record.
That represents a change of up 7.9% on the previous year and up 16.6% over ten years.
Over the whole period, external balance on goods and services as a percent of gdp in Bermuda peaked at 30.1% in 2024 and was at its lowest, 22.9%, in 2021.
That places Bermuda 7th out of 191 countries with data for 2024, putting it in the top 10%.
External balance on goods and services as a percent of GDP in Bermuda, year by year
| Year | % of GDP | Change |
|---|---|---|
| 2010 | 27.0% | — |
| 2011 | 28.8% | +6.7% |
| 2012 | 27.2% | -5.4% |
| 2013 | 27.0% | -1.1% |
| 2014 | 25.8% | -4.3% |
| 2015 | 26.6% | +3.3% |
| 2016 | 25.9% | -2.8% |
| 2017 | 24.7% | -4.7% |
| 2018 | 25.4% | +2.9% |
| 2019 | 25.9% | +2.1% |
| 2020 | 23.7% | -8.7% |
| 2021 | 22.9% | -3.4% |
| 2022 | 24.0% | +4.9% |
| 2023 | 27.9% | +16.1% |
| 2024 | 30.1% | +7.9% |
Bermuda compared with similar countries
- Bermuda's 30.1% is above the median for high income countries, which is 2.2%, 13.4× the median. (72 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 26.4% | 24.7% | 28.8% | 10 |
| 2020s | 25.7% | 22.9% | 30.1% | 5 |
Countries ranked near Bermuda
More economy & growth data for Bermuda
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0128 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), gaps 33.80 million BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0037 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita 522.99 BoP, current US$ per person (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 117.84 million BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual -21.86 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita 1,823 BoP, current US$ per person (2024)
- General government final consumption expenditure (current LCU) 4.44 % change on previous year (2024)
- General government final consumption expenditure (current US$), per 15,245 current US$ per person (2024)
- General government final consumption expenditure (current US$), per 0.1072 current US$ per US$ of GDP (2024)
Frequently asked questions
- What is external balance on goods and services as a percent of gdp in Bermuda?
- External balance on goods and services as a percent of gdp in Bermuda was 30.1% in 2024, according to National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data.
- What is the highest external balance on goods and services as a percent of gdp recorded in Bermuda?
- The highest recorded value was 30.1% in 2024.
- What is the lowest external balance on goods and services as a percent of gdp recorded in Bermuda?
- The lowest recorded value was 22.9% in 2021.
- How does Bermuda rank for external balance on goods and services as a percent of gdp?
- Bermuda ranks 7th out of 191 countries with data for 2024.
- Is external balance on goods and services as a percent of gdp rising or falling in Bermuda?
- Over the last ten years it is up 16.6%. The long-run trend across the full record is flat.
- Where does this Bermuda data come from?
- The figures come from National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data, published as part of External balance on goods and services as a percent of GDP. Statizoid updates them automatically from the source API.
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About this data
Exports of goods and services minus imports of goods and services divided by gross domestic product, expressed as a percentage.