Personal remittances, received in Bermuda
Bermuda: Personal remittances, received was 23.7% in 2023. ▲ Rising
Personal remittances, received in Bermuda, 2006–2023
Source: Staff estimates, World Bank (WB). Measured in % of GDP.
Analysis
Bermuda recorded 23.7% for personal remittances, received in 2023. That is the highest value across all 18 years on record.
Compared with earlier readings it is up 4.8% on the previous year and up 24.9% over ten years.
Over the whole period, personal remittances, received in Bermuda peaked at 23.7% in 2023 and was at its lowest, 18.6%, in 2011.
Bermuda ranks 8th of 195 countries on this measure, in the top 10%.
The long-run direction has been consistently rising across the 18 years of available data.
Personal remittances, received in Bermuda, year by year
| Year | % of GDP | Change |
|---|---|---|
| 2006 | 19.2% | — |
| 2007 | 21.4% | +11.3% |
| 2008 | 19.9% | -7.0% |
| 2009 | 20.2% | +1.5% |
| 2010 | 19.0% | -6.0% |
| 2011 | 18.6% | -2.1% |
| 2012 | 18.7% | +0.3% |
| 2013 | 18.9% | +1.5% |
| 2014 | 20.8% | +9.9% |
| 2015 | 21.7% | +4.3% |
| 2016 | 21.0% | -3.5% |
| 2017 | 21.1% | +0.6% |
| 2018 | 20.0% | -5.0% |
| 2019 | 20.8% | +4.1% |
| 2020 | 22.9% | +9.7% |
| 2021 | 22.7% | -0.6% |
| 2022 | 22.6% | -0.5% |
| 2023 | 23.7% | +4.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 20.2% | 19.2% | 21.4% | 4 |
| 2010s | 20.1% | 18.6% | 21.7% | 10 |
| 2020s | 23.0% | 22.6% | 23.7% | 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 personal remittances, received in Bermuda?
- Personal remittances, received in Bermuda was 23.7% in 2023, according to Staff estimates, World Bank (WB).
- What is the highest personal remittances, received recorded in Bermuda?
- The highest recorded value was 23.7% in 2023.
- What is the lowest personal remittances, received recorded in Bermuda?
- The lowest recorded value was 18.6% in 2011.
- How does Bermuda rank for personal remittances, received?
- Bermuda ranks 8th out of 195 countries with data for 2023.
- Is personal remittances, received rising or falling in Bermuda?
- Over the last ten years it is up 24.9%. The long-run trend across the full record is rising.
- Where does this Bermuda data come from?
- The figures come from Staff estimates, World Bank (WB), published as part of Personal remittances, received (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees.