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Bermuda Trade Summary

2021

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 2021

Overall Exports and Imports for Bermuda 2021

Exports and imports of Bermuda in 2021 are below, along with number of countries and products

  • The total value of exports (FoB) was 29 million.
  • The total value of imports (CIF) was 1,055 million.
  • At the HS6 digit level, 459 products were exported to 32 countries and 3,450 products were imported from 179 countries.

Bermuda top 5 Export and Import partners 2021

Top five countries to which Bermuda exported in 2021 are below, along with the percent of total exports that went to that country:

  1. Bermuda exports to United States worth US$ 26 million, with a partner share of 89.99 percent.
  2. Bermuda exports to Germany worth US$ 1 million, with a partner share of 4.06 percent.
  3. Bermuda exports to United Kingdom worth US$ 1 million, with a partner share of 2.78 percent.
  4. Bermuda exports to Netherlands worth US$ 0 million, with a partner share of 0.92 percent.
  5. Bermuda exports to Turkey worth US$ 0 million, with a partner share of 0.44 percent.

Top five countries from which Bermuda imported goods in 2021 are below, along with percent of total imports that came from the country :

  1. Bermuda imports from United States worth US$ 763 million, with a partner share of 72.34 percent.
  2. Bermuda imports from Canada worth US$ 72 million, with a partner share of 6.83 percent.
  3. Bermuda imports from United Kingdom worth US$ 63 million, with a partner share of 5.93 percent.
  4. Bermuda imports from China worth US$ 22 million, with a partner share of 2.08 percent.
  5. Bermuda imports from Germany worth US$ 18 million, with a partner share of 1.68 percent.

Bermuda Top 5 Productsexports imports at HS 6 digit level 2021

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

  1. Bermuda exported Trailers nes for the transport of goods , worth US$ 12,789.90 million.
  2. Bermuda exported Special purpose motor vehicles nes , worth US$ 4,709.40 million.
  3. Bermuda exported Rum and tafia , worth US$ 2,098.97 million.
  4. Bermuda exported Video recording or reproducing apparatus nes , worth US$ 647.99 million.
  5. Bermuda exported Generating sets,diesel or semi-diesel exceeding , worth US$ 590.00 million.

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 US$ 86,612.94 million.
  2. Bermuda imported New stamps; stamp-impressed paper; banknotes; c , worth US$ 40,843.61 million.
  3. Bermuda imported Other medicaments of mixed or unmixed products, , worth US$ 24,026.69 million.
  4. Bermuda imported Furniture, wooden, nes , worth US$ 14,647.43 million.
  5. Bermuda imported Wine (not sparkling); grape must with by alcoho , worth US$ 12,730.97 million.

Exports and Imports of Product Groups 2021

Exports and imports of products by stages of processing in 2021 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2021

Tariffs imposed by Bermuda in 2021 are below

  • The maximum rate of tariff in percentage on any product was 3,000 percent.
  • The simple average tariff across all products was 22.24 percent.
  • The trade weighted average tariff was 23.84 .
  • The total duty free imports in thousands of US dollars were 63,766.04 and duty free tariff line items share was 7.03 percent.

Development Indicators 2021

Key Development Indicators of Bermuda in 2021 are below

  • Bermuda GDP in current US dollar was 7,127 million.
  • GNI per capita, Atlas method (current US$) was 120,020.00 .
  • Bermuda Trade balance: as % of GDP was 25.99.
  • Trade balance in current US$ was 1,853.00 million.
  • Trade as percentage of GDP was 74.09 .
  • Trade in services as percentage of GDP was 27.59 .

Trade Indicators 2021

Trade Indicators for Bermuda in 2021 are below

  • Hirschman Herfindahl market concentration index was 0.32.
  • Index of export market penetration was 1.38.
  • World Growth in percentage was 12.59 and Bermuda Country Growth was -7.87 .