Net trade in goods in Bermuda
Bermuda: Net trade in goods was -1.20 billion BoP, current US$ in 2023. ▼ Falling
Net trade in goods in Bermuda, 2006–2023
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in BoP, current US$.
Analysis
In 2023, net trade in goods in Bermuda stood at -1.20 billion BoP, current US$.
That represents a change of up 1.3% on the previous year and down 20.6% over ten years.
Over the whole period, net trade in goods in Bermuda peaked at -887.78 million BoP, current US$ in 2011 and was at its lowest, -1.22 billion BoP, current US$, in 2022.
Bermuda ranks 114th of 200 countries on this measure, in the middle of the range.
The long-run direction has been consistently falling across the 18 years of available data.
Net trade in goods in Bermuda, year by year
| Year | BoP, current US$ | Change |
|---|---|---|
| 2006 | -1.07 billion BoP, current US$ | — |
| 2007 | -1.14 billion BoP, current US$ | +6.7% |
| 2008 | -1.14 billion BoP, current US$ | -0.4% |
| 2009 | -1.04 billion BoP, current US$ | -8.8% |
| 2010 | -973.35 million BoP, current US$ | -6.0% |
| 2011 | -887.78 million BoP, current US$ | -8.8% |
| 2012 | -889.22 million BoP, current US$ | +0.2% |
| 2013 | -998.84 million BoP, current US$ | +12.3% |
| 2014 | -948.01 million BoP, current US$ | -5.1% |
| 2015 | -918.25 million BoP, current US$ | -3.1% |
| 2016 | -960.84 million BoP, current US$ | +4.6% |
| 2017 | -1.08 billion BoP, current US$ | +12.0% |
| 2018 | -1.08 billion BoP, current US$ | +0.7% |
| 2019 | -1.13 billion BoP, current US$ | +4.6% |
| 2020 | -916.12 million BoP, current US$ | -19.2% |
| 2021 | -1.08 billion BoP, current US$ | +17.4% |
| 2022 | -1.22 billion BoP, current US$ | +13.5% |
| 2023 | -1.20 billion BoP, current US$ | -1.3% |
Bermuda compared with similar countries
- Bermuda's -1.20 billion BoP, current US$ is below the median for high income countries, which is -743.67 million BoP, current US$, 1.6× the median. (72 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | -1.10 billion BoP, current US$ | -1.14 billion BoP, current US$ | -1.04 billion BoP, current US$ | 4 |
| 2010s | -986.99 million BoP, current US$ | -1.13 billion BoP, current US$ | -887.78 million BoP, current US$ | 10 |
| 2020s | -1.10 billion BoP, current US$ | -1.22 billion BoP, current US$ | -916.12 million BoP, current US$ | 4 |
Countries ranked near Bermuda
- 111 Cameroon -983.96 million BoP, current US$ compare
- 112 New Zealand -1.01 billion BoP, current US$ compare
- 113 Gambia -1.03 billion BoP, current US$ compare
- 115 Aruba -1.22 billion BoP, current US$ compare
- 116 Zimbabwe -1.26 billion BoP, current US$ compare
- 117 Curacao -1.27 billion 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$) 4.44 % change on previous year (2024)
Frequently asked questions
- What is net trade in goods in Bermuda?
- Net trade in goods in Bermuda was -1.20 billion BoP, current US$ in 2023, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest net trade in goods recorded in Bermuda?
- The highest recorded value was -887.78 million BoP, current US$ in 2011.
- What is the lowest net trade in goods recorded in Bermuda?
- The lowest recorded value was -1.22 billion BoP, current US$ in 2022.
- How does Bermuda rank for net trade in goods?
- Bermuda ranks 114th out of 200 countries with data for 2023.
- Is net trade in goods rising or falling in Bermuda?
- Over the last ten years it is down 20.6%. 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 Net trade in goods (BoP, current US$). Statizoid updates them automatically from the source API.
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About this data
The balance of international trade in goods is the difference between the exports and imports of goods. 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.