a house by the mid-2000s exceeded $1,000,000. Its economy is primarily based on providing financial services for international business and luxury facilities for tourists. A number of reinsurance companies relocated to the island following the 11 September 2001 attacks and again after Hurricane Katrina in August 2005 contributing to the expansion of an already robust international business sector. Bermuda's tourism industry - which derives over 80% of its visitors from the US - continues to struggle but remains the island's number two industry. Most capital equipment and food must be imported. Bermuda's industrial sector is largely focused on construction and agriculture is limited, with only 20% of the land being arable.
GDP (purchasing power parity):
$4.5 billion (2004 est.) country comparison to the world: 164
GDP (official exchange rate):
$NA
GDP - real growth rate:
4.6% (2004 est.) country comparison to the world: 67
GDP - per capita (PPP):
$69,900 (2004 est.) country comparison to the world: 4
GDP - composition by sector:
agriculture: 1%
industry: 10%
services: 89% (2002 est.)
Labor force:
38,360 (2004) country comparison to the world: 200
Labor force - by occupation:
agriculture and fishing: 3%
laborers: 17%
clerical: 19%
professional and technical: 21%
administrative and managerial: 15%
sales: 7%
services: 19% (2004 est.)
Unemployment rate:
2.1% (2004 est.) country comparison to the world: 15
Population below poverty line:
19% (2000)
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices):
2.8% (November 2005) country comparison to the world: 86
Market value of publicly traded shares:
$1.36 billion (31 December 2009) country comparison to the world: 95 $1.912 billion (31 December 2008)
$2.731 billion (31 December 2007)
Agriculture - products:
bananas, vegetables, citrus, flowers; dairy products, honey
Industries:
international business, tourism, light manufacturing
Industrial production growth rate:
NA%
Electricity - production:
675.6 million kWh (2007 est.) country comparison to the world: 152
Electricity - consumption:
628.3 million kWh (2007 est.) country comparison to the world: 154
Electricity - exports:
0 kWh (2008 est.)
Electricity - imports:
0 kWh (2008 est.)
Oil - production:
0 bbl/day (2009 est.) country comparison to the world: 204
Oil - consumption:
5,000 bbl/day (2009 est.) country comparison to the world: 166
Oil - exports:
0 bbl/day (2007 est.) country comparison to the world: 208
Oil - imports:
4,500 bbl/day (2007 est.) country comparison to the world: 160
Oil - proved reserves:
0 bbl (1 January 2010 est.) country comparison to the world: 101
Natural gas - production:
0 cu m (2008 est.) country comparison to the world: 97
Natural gas - consumption:
0 cu m (2008 est.) country comparison to the world: 205
Natural gas - exports:
0 cu m (2008 est.) country comparison to the world: 54
Natural gas - imports:
0 cu m (2008 est.) country comparison to the world: 81
Natural gas - proved reserves:
0 cu m (1 January 2010 est.) country comparison to the world: 105
Exports:
$763 million (2006) country comparison to the world: 160
Exports - commodities:
reexports of pharmaceuticals
Exports - partners:
Spain 16.91%, India 10.15%, Brazil 9.55%, Germany 7.4% (2009)
Imports:
$1.162 billion (2006) country comparison to the world: 168
Imports - commodities:
clothing, fuels, machinery and transport equipment, construction materials, chemicals, food and live animals
Imports - partners:
US 31.2%, South Korea 26.71%, Brazil 6.77%, Ireland 6.11%, Singapore 5.35% (2009)
Debt - external:
$160 million (FY99/00) country comparison to the world: 177
Stock of direct foreign investment - at home:
$NA
