Services, value added in Bermuda
Bermuda: Services, value added was 1.8% in 2024. ◆ Volatile
Services, value added in Bermuda, 2011–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in annual % growth.
Analysis
The most recent figure for services, value added in Bermuda is 1.8%, measured in 2024.
Compared with earlier readings it is down 63.9% on the previous year and up 151.5% over ten years.
Over the whole period, services, value added in Bermuda peaked at 7.0% in 2022 and was at its lowest, -6.7%, in 2020.
That places Bermuda 149th out of 198 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Services, value added in Bermuda, year by year
| Year | annual % growth | Change |
|---|---|---|
| 2011 | -3.4% | — |
| 2012 | -5.0% | +46.8% |
| 2013 | -0.3% | -94.9% |
| 2014 | -3.4% | +1255.6% |
| 2015 | 0.2% | -106.8% |
| 2016 | -0.8% | -458.8% |
| 2017 | 3.6% | -529.2% |
| 2018 | -0.7% | -119.0% |
| 2019 | -0.5% | -30.8% |
| 2020 | -6.7% | +1331.0% |
| 2021 | 5.4% | -179.4% |
| 2022 | 7.0% | +29.9% |
| 2023 | 4.9% | -29.5% |
| 2024 | 1.8% | -63.9% |
Bermuda compared with similar countries
- Bermuda's 1.8% is below the median for high income countries, which is 2.2%, 82% of the median. (69 countries reporting)
Biggest year-on-year movements
Years where Services, value added 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 |
|---|---|---|---|
| 2020 | -1331.0% | -0.5% | -6.7% |
| 2014 | -1255.6% | -0.3% | -3.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | -1.1% | -5.0% | 3.6% | 9 |
| 2020s | 2.4% | -6.7% | 7.0% | 5 |
Countries ranked near Bermuda
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 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 services, value added in Bermuda?
- Services, value added in Bermuda was 1.8% in 2024, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest services, value added recorded in Bermuda?
- The highest recorded value was 7.0% in 2022.
- What is the lowest services, value added recorded in Bermuda?
- The lowest recorded value was -6.7% in 2020.
- How does Bermuda rank for services, value added?
- Bermuda ranks 149th out of 198 countries with data for 2024.
- Is services, value added rising or falling in Bermuda?
- Over the last ten years it is up 151.5%. The long-run trend across the full record is volatile.
- Where does this Bermuda data come from?
- The figures come from Country official statistics, National Statistical Offices (NSOs), published as part of Services, value added (annual % growth). Statizoid updates them automatically from the source API.
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CSV · JSON — 14 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Services industries correspond to ISIC (Rev. 4) divisions 45-99 and includes wholesale and retail trade, repair of motor vehicles, hotels and restaurants, transport, storage and communication, financial intermediation, real estate, renting and business activities, public administration and defence, compulsory social security, education, health and social work, other community, social and personal service activities, private households with employed persons, and extra-territorial organizations and bodies. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods and services used to produce that output. This indicator denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.