Bermuda: Gross domestic income (constant LCU)

Key figures

What the numbers say

In 2024, Bermuda's gross domestic income (constant LCU) rose 0.9% on 2023 (from 7.18 billion to 7.25 billion).

Across the 9 yearly changes before that (2015 to 2023), the average change was +1.3% and a typical year strayed about 6.7% from that (the standard deviation). This year's change was 0.1 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 10.4% in 2023 and the biggest yearly fall was 13.2% in 2020. 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 there is no clear straight-line trend: a straight line explains 13% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

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 22nd highest value of the 29 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

• Bahrain — 19th of 29: 15.72 billion
• Bahamas, The — 20th of 29: 13.81 billion
• Solomon Islands — 21st of 29: 11.62 billion
• Tajikistan — 23rd of 29: 6.04 billion
• Belize — 24th of 29: 5.32 billion
• Timor-Leste — 25th of 29: 1.66 billion

What this measures

Real gross domestic income (real GDI) measures the purchasing power of the total incomes generated by domestic production. It is a concept that exists in real terms only. When the terms of trade change there may be a significant divergence between the movements of GDP in volume terms and real GDI. The difference between the change in GDP in volume terms and real GDI is generally described as the “trading gain” (or loss) or, to turn this round, the trading gain or loss from changes in the terms of trade is the difference between real GDI and GDP in volume terms. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment varies by country. This series is expressed in local currency units.

All 11 values

Gross domestic income (constant LCU) in nearby economies

• Canada — 2.67 trillion (2025)
• United States — 24.81 trillion (2024)

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
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Bermuda's gross domestic income (constant LCU)?

7.25 billion in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2014?

It is up 11.59% from 6.49 billion in 2014 (1.1% a year on average, compounded). The highest value was 7.25 billion in 2024 and the lowest 5.94 billion in 2020.

How does Bermuda rank?

22nd highest of 29 economies with data for 2024.

Is the latest change in gross domestic income (constant LCU) unusual for Bermuda?

In 2024, Bermuda's gross domestic income (constant LCU) rose 0.9% on 2023 (from 7.18 billion to 7.25 billion). Across the 9 yearly changes before that (2015 to 2023), the average change was +1.3% and a typical year strayed about 6.7% from that (the standard deviation). This year's change was 0.1 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.GDY.TOTL.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.

Want to ask your own questions of data like this? Try AnalyzeIt: upload a file or ask about public data in plain words, and every figure comes with its working.