Bermuda: Current account balance (% of GDP)

Key figures

What the numbers say

In 2024, Bermuda's current account balance (% of GDP) rose 2.94 percentage points on 2023 (from 15.35% to 18.29%).

Across the 17 yearly changes before that (2007 to 2023), the average change was −0.3 percentage points and a typical year strayed about 2.19 percentage points from that (the standard deviation). This year's change was 1.5 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.

On record, the biggest yearly rise was 3.25 percentage points in 2011 and the biggest yearly fall was 4.98 percentage points in 2008. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 the straight-line trend is upward, about 0.42 percentage points a year. A straight line explains 40% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Bermuda had the 2nd highest value of the 30 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Bermuda in the 2024 ranking

• Marshall Islands — 1st of 30: 21.87%
• Papua New Guinea — 3rd of 30: 15.48%
• Djibouti — 4th of 30: 14.69%
• Malta — 5th of 30: 7.1%

What this measures

Balance of current transactions (transactions in goods and services, earned income and transfer income) between residents and non-residents. The term current account balance is used in the external accounts and is expressed from the perspective of resident units. The term current external balance is used in the national accounts and is expressed from the perspective of the non-resident units, and therefore with the opposite sign. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.

All 19 values

Current account balance (% of GDP) in nearby economies

• Canada — -0.96% (2025)
• United States — -3.83% (2025)

More economic policy & debt data for Bermuda

• GDP (current US$) — US$9.19 billion (2024)
• GDP (current LCU) — 9.19 billion (2024)
• GDP (constant 2015 US$) — US$7.53 billion (2024)
• GDP (constant LCU) — 7.1 billion (2024)
• GDP per capita (current US$) — US$142,250 (2024)
• GDP per capita (current LCU) — 142,250 (2024)
• GDP per capita (constant 2015 US$) — US$116,514 (2024)
• GDP per capita (constant LCU) — 109,864 (2024)
• GDP (annual % growth) — 1.89% (2024)
• GDP per capita (annual % growth) — 1.99% (2024)
• Adjusted savings, education expenditure (% of GNI)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
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Questions people ask

What is Bermuda's current account balance (% of GDP)?

18.29% in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2006?

It is down 2.09 percentage points from 20.38% in 2006. The highest value was 20.38% in 2006 and the lowest 8.73% in 2009.

How does Bermuda rank?

2nd highest of 30 economies with data for 2024.

Is the latest change in current account balance (% of GDP) unusual for Bermuda?

In 2024, Bermuda's current account balance (% of GDP) rose 2.94 percentage points on 2023 (from 15.35% to 18.29%). Across the 17 yearly changes before that (2007 to 2023), the average change was −0.3 percentage points and a typical year strayed about 2.19 percentage points from that (the standard deviation). This year's change was 1.5 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.

Source

World Bank, World Development Indicators, indicator BN.CAB.XOKA.GD.ZS, licensed CC BY 4.0. Original source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF); World Development Indicators Database, World Bank (WB); National Accounts data files, Organisation for Economic Co-operation and Development (OECD) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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