Services, value added in Bermuda
Bermuda: Services, value added was 8.40 billion current US$ in 2024. ▲ Rising
Services, value added in Bermuda, 2010–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in current US$.
Analysis
In 2024, services, value added in Bermuda stood at 8.40 billion current US$. That is the highest value across all 15 years on record.
The figure is up 6.7% on the previous year and up 44.1% over ten years.
Over the whole period, services, value added in Bermuda peaked at 8.40 billion current US$ in 2024 and was at its lowest, 5.67 billion current US$, in 2011.
Bermuda ranks 142nd of 206 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 15 years of available data.
Services, value added in Bermuda, year by year
| Year | current US$ | Change |
|---|---|---|
| 2010 | 5.90 billion current US$ | — |
| 2011 | 5.67 billion current US$ | -4.0% |
| 2012 | 5.78 billion current US$ | +2.1% |
| 2013 | 5.82 billion current US$ | +0.7% |
| 2014 | 5.82 billion current US$ | +0.0% |
| 2015 | 6.02 billion current US$ | +3.3% |
| 2016 | 6.22 billion current US$ | +3.4% |
| 2017 | 6.41 billion current US$ | +3.0% |
| 2018 | 6.48 billion current US$ | +1.1% |
| 2019 | 6.62 billion current US$ | +2.2% |
| 2020 | 6.22 billion current US$ | -6.0% |
| 2021 | 6.60 billion current US$ | +6.0% |
| 2022 | 7.03 billion current US$ | +6.6% |
| 2023 | 7.87 billion current US$ | +11.9% |
| 2024 | 8.40 billion current US$ | +6.7% |
Bermuda compared with similar countries
- Bermuda's 8.40 billion current US$ is below the median for high income countries, which is 71.23 billion current US$, 12% of the median. (77 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 6.07 billion current US$ | 5.67 billion current US$ | 6.62 billion current US$ | 10 |
| 2020s | 7.22 billion current US$ | 6.22 billion current US$ | 8.40 billion current US$ | 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 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$) 4.44 % change on previous year (2024)
Frequently asked questions
- What is services, value added in Bermuda?
- Services, value added in Bermuda was 8.40 billion current US$ 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 8.40 billion current US$ in 2024.
- What is the lowest services, value added recorded in Bermuda?
- The lowest recorded value was 5.67 billion current US$ in 2011.
- How does Bermuda rank for services, value added?
- Bermuda ranks 142nd out of 206 countries with data for 2024.
- Is services, value added rising or falling in Bermuda?
- Over the last ten years it is up 44.1%. The long-run trend across the full record is rising.
- 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 (current US$). Statizoid updates them automatically from the source API.
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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 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.