Net errors and omissions in Bermuda
Bermuda: Net errors and omissions was -370.23 million BoP, current US$ in 2023. ◆ Volatile
Net errors and omissions in Bermuda, 2006–2023
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in BoP, current US$.
Analysis
In 2023, net errors and omissions in Bermuda stood at -370.23 million BoP, current US$.
That represents a change of down 78.8% on the previous year and down 492.2% over ten years.
Over the whole period, net errors and omissions in Bermuda peaked at 140.36 million BoP, current US$ in 2014 and was at its lowest, -2.85 billion BoP, current US$, in 2006.
Bermuda ranks 146th of 199 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Net errors and omissions in Bermuda, year by year
| Year | BoP, current US$ | Change |
|---|---|---|
| 2006 | -2.85 billion BoP, current US$ | — |
| 2007 | -2.14 billion BoP, current US$ | -25.0% |
| 2008 | -437.33 million BoP, current US$ | -79.5% |
| 2009 | -893.72 million BoP, current US$ | +104.4% |
| 2010 | 18.03 million BoP, current US$ | -102.0% |
| 2011 | -630.19 million BoP, current US$ | -3594.7% |
| 2012 | -98.75 million BoP, current US$ | -84.3% |
| 2013 | 94.41 million BoP, current US$ | -195.6% |
| 2014 | 140.36 million BoP, current US$ | +48.7% |
| 2015 | -183.32 million BoP, current US$ | -230.6% |
| 2016 | -15.43 million BoP, current US$ | -91.6% |
| 2017 | -116.47 million BoP, current US$ | +655.1% |
| 2018 | 11.90 million BoP, current US$ | -110.2% |
| 2019 | 52.88 million BoP, current US$ | +344.2% |
| 2020 | -24.63 million BoP, current US$ | -146.6% |
| 2021 | -93.08 million BoP, current US$ | +277.9% |
| 2022 | -207.01 million BoP, current US$ | +122.4% |
| 2023 | -370.23 million BoP, current US$ | +78.8% |
Bermuda compared with similar countries
- Bermuda's -370.23 million BoP, current US$ is below the median for high income countries, which is -132.48 million BoP, current US$, 2.8× the median. (71 countries reporting)
Biggest year-on-year movements
Years where Net errors and omissions in Bermuda changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2011 | -3594.7% | 18.03 million BoP, current US$ | -630.19 million BoP, current US$ |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | -1.58 billion BoP, current US$ | -2.85 billion BoP, current US$ | -437.33 million BoP, current US$ | 4 |
| 2010s | -72.66 million BoP, current US$ | -630.19 million BoP, current US$ | 140.36 million BoP, current US$ | 10 |
| 2020s | -173.74 million BoP, current US$ | -370.23 million BoP, current US$ | -24.63 million BoP, current US$ | 4 |
Countries ranked near Bermuda
- 143 Gambia -333.27 million BoP, current US$ compare
- 144 Philippines -346.43 million BoP, current US$ compare
- 145 Malaysia -347.42 million BoP, current US$ compare
- 147 Congo -383.56 million BoP, current US$ compare
- 148 Mongolia -393.23 million BoP, current US$ compare
- 149 Finland -408.69 million BoP, current US$ compare
More economy & growth data for Bermuda
- General government final consumption expenditure (current LCU), per 0.1072 current LCU 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 unit 0.0128 BoP, current US$ per US$ of GDP (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)
- General government final consumption expenditure (current US$) 4.44 % change on previous year (2024)
Frequently asked questions
- What is net errors and omissions in Bermuda?
- Net errors and omissions in Bermuda was -370.23 million BoP, current US$ in 2023, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest net errors and omissions recorded in Bermuda?
- The highest recorded value was 140.36 million BoP, current US$ in 2014.
- What is the lowest net errors and omissions recorded in Bermuda?
- The lowest recorded value was -2.85 billion BoP, current US$ in 2006.
- How does Bermuda rank for net errors and omissions?
- Bermuda ranks 146th out of 199 countries with data for 2023.
- Is net errors and omissions rising or falling in Bermuda?
- Over the last ten years it is down 492.2%. The long-run trend across the full record is volatile.
- 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 Net errors and omissions (BoP, current US$). Statizoid updates them automatically from the source API.
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About this data
Net errors and omissions constitute a residual category needed to ensure that accounts in the balance of payments statement sum to zero. Net errors and omissions are derived as the balance on the financial account minus the balances on the current and capital accounts. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.