Bermuda's trade (% of GDP) was 80.21% in 2024, the latest year in the World Bank's World Development Indicators. That is up 3.69 percentage points from 76.52% in 2014.
Key figures
| Value | Year | |
|---|---|---|
| Latest | 80.21% | 2024 |
| Five years earlier | 77.56% | 2019 |
| Ten years earlier | 76.52% | 2014 |
| Highest | 80.21% | 2024 |
| Lowest | 70.59% | 2020 |
| Average since 2015 | 75.29% | 2015–2024 |
| First recorded | 74.6% | 2010 |
What the numbers say
In 2024, Bermuda's trade (% of GDP) rose 2.56 percentage points on 2023 (from 77.65% to 80.21%).
Across the 13 yearly changes before that (2011 to 2023), the average change was +0.23 percentage points and a typical year strayed about 3.31 percentage points from that (the standard deviation). This year's change was 0.7 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 5.16 percentage points in 2018 and the biggest yearly fall was 6.97 percentage points 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 the straight-line trend is upward, about 0.63 percentage points a year. A straight line explains 35% 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 18th highest value of the 33 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.
| Value | Year | |
|---|---|---|
| Bermuda | 80.21% | 2024 |
| World | 68.49% | 2025 |
| North America | 28.46% | 2024 |
| High income | 60.54% | 2024 |
Closest to Bermuda in the 2024 ranking
What this measures
Trade is the sum of exports and imports of goods and services. 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.
Regional and income-group figures are computed by the World Bank as a weighted average.
All 15 values
| Year | Trade (% of GDP) |
|---|---|
| 2024 | 80.21 |
| 2023 | 77.65 |
| 2022 | 77.98 |
| 2021 | 72.93 |
| 2020 | 70.59 |
| 2019 | 77.56 |
| 2018 | 77.56 |
| 2017 | 72.39 |
| 2016 | 72.75 |
| 2015 | 73.3 |
| 2014 | 76.52 |
Trade (% of GDP) in nearby economies
- Canada — 63.51% (2025)
- United States — 25.02% (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
Questions people ask
- What is Bermuda's trade (% of GDP)?
- 80.21% in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 2010?
- It is up 5.61 percentage points from 74.6% in 2010. The highest value was 80.21% in 2024 and the lowest 70.59% in 2020.
- How does Bermuda rank?
- 18th highest of 33 economies with data for 2024.
- Is the latest change in trade (% of GDP) unusual for Bermuda?
- In 2024, Bermuda's trade (% of GDP) rose 2.56 percentage points on 2023 (from 77.65% to 80.21%). Across the 13 yearly changes before that (2011 to 2023), the average change was +0.23 percentage points and a typical year strayed about 3.31 percentage points from that (the standard deviation). This year's change was 0.7 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 NE.TRD.GNFS.ZS, 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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