Volume of remittances (in United States dollars) as a proportion of in Bermuda
Bermuda: Volume of remittances (in United States dollars) as a proportion of was 23.7% in 2023. ▲ Rising
Volume of remittances (in United States dollars) as a proportion of in Bermuda, 2006–2023
Source: United Nations Statistics Division, SDG Global Database.
Analysis
In 2023, volume of remittances (in united states dollars) as a proportion of in Bermuda stood at 23.7%. That is the highest value across all 18 years on record.
The figure is up 6.5% on the previous year and up 25.2% over ten years.
Over the whole period, volume of remittances (in united states dollars) as a proportion of in Bermuda peaked at 23.7% in 2023 and was at its lowest, 18.6%, in 2011.
That places Bermuda 10th out of 203 countries with data for 2023, putting it in the top 10%.
The long-run direction has been consistently rising across the 18 years of available data.
Volume of remittances (in United States dollars) as a proportion of in Bermuda, year by year
| Year | Value | 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 | 22.3% | -1.9% |
| 2023 | 23.7% | +6.5% |
Bermuda compared with similar countries
- Bermuda's 23.7% is above the median for high income countries, which is 0.7%, 32.2× the median. (66 countries reporting)
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 | 22.9% | 22.3% | 23.7% | 4 |
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 volume of remittances (in united states dollars) as a proportion of in Bermuda?
- Volume of remittances (in united states dollars) as a proportion of in Bermuda was 23.7% in 2023, according to United Nations Statistics Division, SDG Global Database.
- What is the highest volume of remittances (in united states dollars) as a proportion of recorded in Bermuda?
- The highest recorded value was 23.7% in 2023.
- What is the lowest volume of remittances (in united states dollars) as a proportion of recorded in Bermuda?
- The lowest recorded value was 18.6% in 2011.
- How does Bermuda rank for volume of remittances (in united states dollars) as a proportion of?
- Bermuda ranks 10th out of 203 countries with data for 2023.
- Is volume of remittances (in united states dollars) as a proportion of rising or falling in Bermuda?
- Over the last ten years it is up 25.2%. The long-run trend across the full record is rising.
- Where does this Bermuda data come from?
- The figures come from United Nations Statistics Division, SDG Global Database, published as part of Volume of remittances (in United States dollars) as a proportion of total GDP (%). Statizoid updates them automatically from the source API.
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