Bermuda: Net secondary income (current US$, BoP)

Key figures

What the numbers say

In 2025, Bermuda's net secondary income (current US$, BoP) rose US$25.29 million on 2024 (from −US$234.52 million to −US$209.23 million).

Across the 18 yearly changes before that (2007 to 2024), the average change was −US$12.65 million and a typical year strayed about US$24.77 million 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 US$31.88 million in 2023 and the biggest yearly fall was US$61.91 million 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 2016 to 2025 the straight-line trend is downward, about US$4.31 million a year. A straight line explains 41% 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 2025, Bermuda had the 93rd highest value of the 136 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 2025 ranking

• Grenada — 89th of 136: −US$63.64 million
• Antigua and Barbuda — 90th of 136: −US$105.78 million
• Kazakhstan — 91st of 136: −US$168.39 million
• Panama — 93rd of 136: −US$222.33 million
• Cyprus — 94th of 136: −US$386.29 million
• Angola — 95th of 136: −US$399.46 million

What this measures

Net secondary income (from abroad) comprises transfers of income between residents of the reporting country and the rest of the world that carry no provisions for repayment. Net secondary income is equal to the unrequited transfers of income from nonresidents to residents minus the unrequited transfers from residents to nonresidents. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.

Limitations: Discrepancies may arise in the balance of payments because there is no single source for balance of payments data and therefore no way to ensure that the data are fully consistent. Sources include customs data, monetary accounts of the banking system, external debt records, information provided by enterprises, surveys to estimate service transactions, and foreign exchange records. Differences in collection methods - such as in timing, definitions of residence and ownership, and the exchange rate used to value transactions - contribute to net errors and omissions. In addition, smuggling and other illegal or quasi-legal transactions may be unrecorded or misrecorded.

All 20 values

Net secondary income (current US$, BoP) in nearby economies

• Canada — −US$4.64 billion (2025)
• United States — −US$197.52 billion (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
• 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 net secondary income (current US$, BoP)?

−US$209.23 million in 2025, according to the World Bank (World Development Indicators).

How has it changed since 2006?

It is down 2,968% from −US$6.82 million in 2006. The highest value was −US$6.82 million in 2006 and the lowest −US$234.52 million in 2024.

How does Bermuda rank?

93rd highest of 136 economies with data for 2025.

Is the latest change in net secondary income (current US$, BoP) unusual for Bermuda?

In 2025, Bermuda's net secondary income (current US$, BoP) rose US$25.29 million on 2024 (from −US$234.52 million to −US$209.23 million). Across the 18 yearly changes before that (2007 to 2024), the average change was −US$12.65 million and a typical year strayed about US$24.77 million 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.TRF.CURR.CD, licensed CC BY 4.0. Original source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF) 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.