External balance on goods and services in Bermuda
Bermuda: External balance on goods and services was 30.1% in 2024. ▬ Flat
External balance on goods and services in Bermuda, 2010–2024
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in % of GDP.
Analysis
In 2024, external balance on goods and services in Bermuda stood at 30.1%. 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 in Bermuda peaked at 30.1% in 2024 and was at its lowest, 22.9%, in 2021.
That places Bermuda 7th out of 193 countries with data for 2024, putting it in the top 10%.
External balance on goods and services 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% |
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
- 4 Singapore 35.4% compare
- 5 Luxembourg 31.2% compare
- 6 San Marino 31.0% compare
- 8 Gabon 26.1% compare
- 9 Brunei Darussalam 19.5% compare
- 10 Malta 19.2% compare
More economy & growth data for Bermuda
- Industry (including construction), value added (current LCU), annual 13.18 % change on previous year (2024)
- Industry (including construction), value added (constant LCU), annual 4.66 % change on previous year (2024)
- Industry (including construction), value added (constant 2015 US$) 6,143 constant 2015 US$ per person (2024)
- Industry (including construction), value added (constant 2015 US$) 0.0432 constant 2015 US$ per US$ of GDP (2024)
- Industry (including construction), value added (constant 2015 US$) 4.66 % change on previous year (2024)
- Industry (including construction), value added (current LCU), per 6,965 current LCU per person (2024)
- Industry (including construction), value added (current LCU), per 0.049 current LCU per US$ of GDP (2024)
- Manufacturing, value added (constant 2015 US$), per capita 454.57 constant 2015 US$ per person (2024)
- Manufacturing, value added (constant LCU), per capita 427.72 constant LCU per person (2024)
- Industry (including construction), value added (current US$), annual 13.18 % change on previous year (2024)
Frequently asked questions
- What is external balance on goods and services in Bermuda?
- External balance on goods and services in Bermuda was 30.1% in 2024, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest external balance on goods and services recorded in Bermuda?
- The highest recorded value was 30.1% in 2024.
- What is the lowest external balance on goods and services recorded in Bermuda?
- The lowest recorded value was 22.9% in 2021.
- How does Bermuda rank for external balance on goods and services?
- Bermuda ranks 7th out of 193 countries with data for 2024.
- Is external balance on goods and services 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 Country official statistics, National Statistical Organizations and/or Central Banks, published as part of External balance on goods and services (% of GDP). Statizoid updates them automatically from the source API.
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About this data
The balance of international trade in goods and services is the difference between the exports and imports of goods and services. 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.