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Bermuda Trade Summary

2022

Bermuda exports, imports, tariff by year.

Country and Region
Year
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Please note the exports, imports and tariff data are based on reported data and not gap filled. Please check the Data Availability for coverage.

Imports/Exports


Products

TRADE SUMMARY FOR BERMUDA 2022

Overall Exports and Imports for Bermuda 2022

Exports and imports of Bermuda in 2022 are below, along with number of countries and products

  • The total value of exports (FoB) was 34 million.
  • The total value of imports (CIF) was 1,192 million.
  • At the HS6 digit level, 565 products were exported to 26 countries and 3,433 products were imported from 179 countries.

Bermuda top 5 Export and Import partners 2022

Top five countries to which Bermuda exported in 2022 are below, along with the percent of total exports that went to that country:

  1. Bermuda exports to United States worth US$ 28 million, with a partner share of 84.64 percent.
  2. Bermuda exports to United Kingdom worth US$ 3 million, with a partner share of 9.63 percent.
  3. Bermuda exports to Canada worth US$ 1 million, with a partner share of 2.94 percent.
  4. Bermuda exports to Germany worth US$ 1 million, with a partner share of 1.67 percent.
  5. Bermuda exports to Denmark worth US$ 0 million, with a partner share of 0.25 percent.

Top five countries from which Bermuda imported goods in 2022 are below, along with percent of total imports that came from the country :

  1. Bermuda imports from United States worth US$ 852 million, with a partner share of 71.48 percent.
  2. Bermuda imports from Canada worth US$ 102 million, with a partner share of 8.54 percent.
  3. Bermuda imports from United Kingdom worth US$ 64 million, with a partner share of 5.36 percent.
  4. Bermuda imports from China worth US$ 34 million, with a partner share of 2.89 percent.
  5. Bermuda imports from Germany worth US$ 18 million, with a partner share of 1.54 percent.

Bermuda Top 5 Productsexports imports at HS 6 digit level 2022

The top five exported HS 6 digit level products to world by Bermuda along with trade value are:

  1. Bermuda exported Rum and tafia , worth 2,362.54 (US$ Thousands).
  2. Bermuda exported Aircraft engines, spark-ignition reciprocating , worth 1,828.98 (US$ Thousands).
  3. Bermuda exported Generating sets,diesel or semi-diesel exceeding , worth 883.00 (US$ Thousands).
  4. Bermuda exported Parts of machines & mechanical appliances nes h , worth 486.12 (US$ Thousands).
  5. Bermuda exported Instruments and appliances used in medical or v , worth 454.05 (US$ Thousands).

The top five imported HS 6 digit level products from world by Bermuda along with trade value are

  1. Bermuda imported Petroleum oils, etc, (excl. crude); preparation , worth 138,026.98 (US$ Thousands).
  2. Bermuda imported New stamps; stamp-impressed paper; banknotes; c , worth 61,405.57 (US$ Thousands).
  3. Bermuda imported Other medicaments of mixed or unmixed products, , worth 25,563.23 (US$ Thousands).
  4. Bermuda imported Wine (not sparkling); grape must with by alcoho , worth 13,652.29 (US$ Thousands).
  5. Bermuda imported Other bread, etc, nes; communion wafers, rice p , worth 12,932.09 (US$ Thousands).

Exports and Imports of Product Groups 2022

Exports and imports of products by stages of processing in 2022 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2022

Tariffs imposed by Bermuda in 2022 are below

  • The maximum rate of tariff in percentage on any product was 3,000 percent.
  • The simple average tariff across all products was 22.62 percent.
  • The trade weighted average tariff was 30.26 .
  • The total duty free imports in thousands of US dollars were 50,800.61 and duty free tariff line items share was 8.57 percent.

Development Indicators 2022

Key Development Indicators of Bermuda in 2022 are below

  • Bermuda GDP in current US dollar was 7,551 million.
  • GNI per capita, Atlas method (current US$) was 125,240.00 .
  • Bermuda Trade balance: as % of GDP was 26.35.
  • Trade balance in current US$ was 1,990.00 million.
  • Trade as percentage of GDP was 78.29 .
  • Trade in services as percentage of GDP was not available .

Trade Indicators 2022

Trade Indicators for Bermuda in 2022 are below

  • Hirschman Herfindahl market concentration index was 0.13.
  • Index of export market penetration was 1.41.
  • World Growth in percentage was 5.18 and Bermuda Country Growth was -42.41 .