Territory Summary: Bermuda
Territory Name: Bermuda
Capital: Hamilton
Official Visa & Travel Information: Government of Bermuda Immigration Services (Visa Services)
Government Type: Overseas Territory of the UK with limited self-government; parliamentary democracy
Background: Bermuda was first settled in 1609 by shipwrecked English colonists heading for Virginia. Self-governing since 1620, Bermuda is the oldest and most populous of the British Overseas Territories. Vacationing to the island to escape North American winters first developed in Victorian times. Tourism continues to be important to the island's economy, although international business has overtaken it in recent years. Bermuda has also developed into a highly successful offshore financial center. A referendum on independence from the UK was soundly defeated in 1995.
Region: Oceania
Population: 72,576 (2023 est.)
Ethnic Groups: African descent 52%, White 31%, mixed 9%, Asian 4%, other 4% (2010 est.)
Languages: English (official), Portuguese
Religions: Protestant 46.2% (includes Anglican 15.8%, African Methodist Episcopal 8.6%, Seventh Day Adventist 6.7, Pentecostal 3.5%, Methodist 2.7%, Presbyterian 2.0%, Church of God 1.6%, Baptist 1.2%, Salvation Army 1.1%, Brethren 1.0%, other Protestant 2.0%), Roman Catholic 14.5%, Jehovah's Witness 1.3%, other Christian 9.1%, Muslim 1%, other 3.9%, none 17.8%, unspecified 6.2% (2010 est.)
Economic Overview: small, tourism- and construction-based, territorial-island economy; American import and tourist destination; known offshore banking hub; increasing inflation; major re-exportation and re-importation area
Currency: Bermudian Dollar (BMD)
Real GDP (Purchasing Power Parity): $5.157 billion (2022 est.) note: data in 2017 dollars
Real GDP Growth Rate: 2.93% (2022 est.) note: annual GDP % growth based on constant local currency
Real GDP per Capita: $81,200 (2022 est.) note: data in 2017 dollars
Exports:
$1.136 billion (2021 est.)
note: balance of payments - exports of goods and services in current dollars
Comparison Ranking: 177
Export Commodities: recreational boats, ships, trailers, aircraft, fertilizers (2021)
Imports:
$1.925 billion (2021 est.) note: data are in current year dollars
note: balance of payments - imports of goods and services in current dollars
Comparison Ranking: 178
Import Commodities: ships, refined petroleum, postage stamps, recreational boats, aircraft (2019)
Import Partners: United States 44%, South Korea 17%, Germany 10%, Canada 8% (2019)
Natural Resources: limestone, pleasant climate fostering tourism
Agricultural Products: bananas, vegetables, citrus, flowers; dairy products, honey
Industries: international business, tourism, light manufacturing
Industrial Production Growth Rate:
0.1% (2021 est.)
note: annual % change in industrial value added based on constant local currency
Comparison Ranking: 159
Labor Force: 33,480 (2016 est.)
Unemployment Rate: 7% (2017 est.)
Natural Hazards: hurricanes (June to November)
Geography:
Total: 54 sq km
Land: 54 sq km
Water: 0 sq km
(Country Summary, The World Factbook, CIA.gov)
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