Bermuda

Bermuda is a nation of islands in the North Atlantic Ocean, located east of South Carolina, with a total population of approximately 71,750 inhabitants.

The island covers an area of approximately 54 sq. km, almost all of which is land. Of the total land available 14.8% or 7.99 sq. km is arable. Almost 20% of the total land available or 10.8 sq. km is covered with forests.

The islands total GDP is valued at 6.127 billion. The services sector is the islands largest GDP contributor accounting for 93.8% of total GDP or 5.75 billion. The services sector is followed by industry which accounts for 5.3% or $0.32 billion of total GDP and agriculture which accounts for 0.9% or 0.06 billion of total GDP.

The islands total labor force is estimated at 33,480 or 46.66% of the total population. Of the total labor force available 85% or 28,458 are employed in the services sector, 13% or 4,352 are employed in the industrial sector and 2% or 670 are employed in the agricultural sector. 

The islands main industries include international business, tourism, and light manufacturing.

The islands main agricultural produce include bananas, vegetables, citrus, flowers; dairy products, and honey. 

The islands primary exports are re-exports of pharmaceutical products.

Bermuda’s major export partners are Jamaica 49.1%, Luxembourg 36.1%, and the United States 4.9% and its major import partners include the United States 72.1%, South Korea 9.7%, and Canada 4.2%.

 

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