Bermuda's manufacturing, value added (current LCU) was 28.53 million in 2024, the latest year in the World Bank's World Development Indicators. That is down 7.36% from 30.79 million in 2014 (0.76% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 28.53 million | 2024 |
| Five years earlier | 38.31 million | 2019 |
| Ten years earlier | 30.79 million | 2014 |
| Highest | 84.08 million | 2002 |
| Lowest | 23.17 million | 2020 |
| Average since 2015 | 30.32 million | 2015–2024 |
| First recorded | 77.59 million |
What the numbers say
In 2024, Bermuda's manufacturing, value added (current LCU) rose 1.3% on 2023 (from 28.15 million to 28.53 million).
Across the 17 yearly changes before that (2002 to 2023), the average change was −2.7% and a typical year strayed about 14.6% from that (the standard deviation). This year's change was 0.3 standard deviations above 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 11.3% in 2017 and the biggest yearly fall was 39.5% 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 27% 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 41st highest value of the 45 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
- Tonga — 38th of 45: 85.15 million
- Cayman Islands — 39th of 45: 56.01 million
- Timor-Leste — 40th of 45: 35.45 million
- Kiribati — 42nd of 45: 22.07 million
- Marshall Islands — 43rd of 45: 9.04 million
- Turks and Caicos Islands — 44th of 45: 7.8 million
What this measures
Manufacturing includes industries classified in ISIC (Rev. 3) major division C and is defined as the physical or chemical transformation of materials or components into new products. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods and services used to produce that output. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.
All 20 values
| Year | Manufacturing, value added (current LCU) |
|---|---|
| 2024 | 28,525,000 |
| 2023 | 28,148,000 |
| 2022 | 27,507,000 |
| 2021 | 25,302,000 |
| 2020 | 23,168,000 |
| 2019 | 38,308,000 |
| 2018 | 35,210,000 |
| 2017 | 33,116,000 |
| 2016 | 29,743,000 |
| 2015 | 34,216,000 |
| 2014 |
Manufacturing, value added (current LCU) in nearby economies
- Canada — 267.07 billion (2022)
- United States — 2.5 trillion (2021)
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 manufacturing, value added (current LCU)?
- 28.53 million in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 2001?
- It is down 63.23% from 77.59 million in 2001 (4.26% a year on average, compounded). The highest value was 84.08 million in 2002 and the lowest 23.17 million in 2020.
- How does Bermuda rank?
- 41st highest of 45 economies with data for 2024.
- Is the latest change in manufacturing, value added (current LCU) unusual for Bermuda?
- In 2024, Bermuda's manufacturing, value added (current LCU) rose 1.3% on 2023 (from 28.15 million to 28.53 million). Across the 17 yearly changes before that (2002 to 2023), the average change was −2.7% and a typical year strayed about 14.6% from that (the standard deviation). This year's change was 0.3 standard deviations above 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 NV.IND.MANF.CN, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Offices (NSOs); National Accounts data files, Central Banks; 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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