Bermuda: Services, value added (% of GDP)

Key figures

What the numbers say

In 2024, Bermuda's services, value added (% of GDP) fell 0.17 percentage points on 2023 (from 91.48% to 91.31%).

Across the 13 yearly changes before that (2011 to 2023), the average change was +0.2 percentage points and a typical year strayed about 0.65 percentage points from that (the standard deviation). This year's change was 0.6 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

How it compares

In 2024, Bermuda had the 3rd highest value of the 31 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

• Macao SAR, China — 1st of 31: 92.03%
• Hong Kong SAR, China — 2nd of 31: 91.45%
• Monaco — 4th of 31: 87.2%

What this measures

Services industries correspond to ISIC (Rev. 4) divisions 45-99 and includes wholesale and retail trade, repair of motor vehicles, hotels and restaurants, transport, storage and communication, financial intermediation, real estate, renting and business activities, public administration and defence, compulsory social security, education, health and social work, other community, social and personal service activities, private households with employed persons, and extra-territorial organizations and bodies. 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 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 15 values

Services, value added (% of GDP) in nearby economies

• Canada — 64.11% (2022)
• United States — 76.26% (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)

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

Questions people ask

Source

World Bank, World Development Indicators, indicator NV.SRV.TOTL.ZS, 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 . Comparisons use the same World Bank release.