Services, value added (% of GDP) in Bermuda
Bermuda: Services, value added (% of GDP) was 91.3% in 2024. ▬ Flat
Services, value added in Bermuda, 2010–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in % of GDP.
Analysis
In 2024, services, value added in Bermuda stood at 91.3%.
The figure is down 0.2% on the previous year and up 0.5% over ten years.
Over the whole period, services, value added in Bermuda peaked at 91.5% in 2023 and was at its lowest, 88.9%, in 2010.
Bermuda ranks 4th of 206 countries on this measure, in the top 10%.
Services, value added (% of GDP) in Bermuda, year by year
| Year | % of GDP | Change |
|---|---|---|
| 2010 | 88.9% | — |
| 2011 | 89.7% | +0.9% |
| 2012 | 90.7% | +1.0% |
| 2013 | 90.1% | -0.7% |
| 2014 | 90.8% | +0.8% |
| 2015 | 90.4% | -0.4% |
| 2016 | 90.1% | -0.3% |
| 2017 | 89.7% | -0.5% |
| 2018 | 89.6% | -0.1% |
| 2019 | 89.1% | -0.5% |
| 2020 | 90.3% | +1.3% |
| 2021 | 90.5% | +0.2% |
| 2022 | 90.5% | +0.0% |
| 2023 | 91.5% | +1.1% |
| 2024 | 91.3% | -0.2% |
Bermuda compared with similar countries
- Bermuda's 91.3% is above the median for high income countries, which is 66.2%, 1.4× the median. (77 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 89.9% | 88.9% | 90.8% | 10 |
| 2020s | 90.8% | 90.3% | 91.5% | 5 |
Countries ranked near Bermuda
- 1 Isle of Man 95.2% compare
- 2 Macao 92.0% compare
- 3 Hong Kong 91.5% compare
- 5 Channel Islands 91.2% compare
- 6 Sint Maarten (Dutch part) 89.3% compare
- 7 Monaco 87.2% compare
More economy & growth data for Bermuda
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0128 BoP, current US$ 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 capita 1,823 BoP, current US$ per person (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 91.3% 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 91.5% in 2023.
- What is the lowest services, value added recorded in Bermuda?
- The lowest recorded value was 88.9% in 2010.
- How does Bermuda rank for services, value added?
- Bermuda ranks 4th 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 0.5%. The long-run trend across the full record is flat.
- 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 (% of GDP). 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 as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.