Bermuda's discrepancy in expenditure estimate of GDP (constant LCU) was 6.95 million in 2024, the latest year in the World Bank's World Development Indicators. That is up 103.8% from -182.75 million in 2014.
Key figures
| Value | Year | |
|---|---|---|
| Latest | 6.95 million | 2024 |
| Five years earlier | -86.68 million | 2019 |
| Ten years earlier | -182.75 million | 2014 |
| Highest | 276.05 million | 2023 |
| Lowest | -922.88 million | 2016 |
| Average since 2015 | -110.15 million | 2015–2024 |
| First recorded | -182.75 million |
What the numbers say
In 2024, Bermuda's discrepancy in expenditure estimate of GDP (constant LCU) fell 269.1 million on 2023 (from 276.05 million to 6.95 million).
Across the 9 yearly changes before that (2015 to 2023), the average change was +50.98 million and a typical year strayed about 337.49 million from that (the standard deviation). This year's change was 0.9 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was 715.37 million in 2017 and the biggest yearly fall was 598.18 million in 2016. 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 87.41 million a year. A straight line explains 60% 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 6th highest value of the 14 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
- Solomon Islands — 3rd of 14: 818.02 million
- Ghana — 4th of 14: 480.43 million
- Bahrain — 5th of 14: 43.22 million
- Marshall Islands — 7th of 14: 2.18 million
- Kuwait — 8th of 14: 0.1
- Cuba — 9th of 14: 0
What this measures
Although the SNA ensures there is perfect consistency between the three measures of GDP, this is a conceptual consistency that in general does not emerge naturally from data compilations. This is because of the wide disparity of data sources that must be called on and the fact that any error in any source will lead to a difference between at least two of the GDP measures. In practice it is inevitable that many such data errors will exist and will become apparent in exercises such as the balancing of supply and use tables. This indicator is expressed in constant prices, meaning the underlying series have been adjusted to account for price changes over time. The reference year for this adjustment varies by country.
All 11 values
| Year | Discrepancy in expenditure estimate of GDP (constant LCU) |
|---|---|
| 2024 | 6,949,000 |
| 2023 | 276,048,000 |
| 2022 | 230,405,000 |
| 2021 | 96,152,000 |
| 2020 | -6,981,000 |
| 2019 | -86,682,000 |
| 2018 | -162,338,900 |
| 2017 | -207,507,800 |
| 2016 | -922,878,600 |
| 2015 | -324,701,900 |
Discrepancy in expenditure estimate of GDP (constant LCU) in nearby economies
- Canada — 2.35 million (2025)
- United States — 0 (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
Questions people ask
- What is Bermuda's discrepancy in expenditure estimate of GDP (constant LCU)?
- 6.95 million in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 2014?
- It is up 103.8% from -182.75 million in 2014. The highest value was 276.05 million in 2023 and the lowest -922.88 million in 2016.
- How does Bermuda rank?
- 6th highest of 14 economies with data for 2024.
- Is the latest change in discrepancy in expenditure estimate of GDP (constant LCU) unusual for Bermuda?
- In 2024, Bermuda's discrepancy in expenditure estimate of GDP (constant LCU) fell 269.1 million on 2023 (from 276.05 million to 6.95 million). Across the 9 yearly changes before that (2015 to 2023), the average change was +50.98 million and a typical year strayed about 337.49 million from that (the standard deviation). This year's change was 0.9 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
Source
World Bank, World Development Indicators, indicator NY.GDP.DISC.KN, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB) 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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