GEOGRAPHICAL NAMES

Economy - overview:
Bermuda enjoys the fourth highest per capita income in the world, more than 50% higher than that of the US; the average cost of a house by the mid-2000s exceeded $1,000,000. Its economy is primarily based on providing financial services for international business and luxury facilities for tourists. A number of reinsurance companies relocated to the island following the 11 September 2001 attacks on the US and again after Hurricane Katrina in August 2005 contributing to the expansion of an already robust international business sector. Bermuda's tourism industry - which derives over 80% of its visitors from the US - continues to struggle but remains the island's number two industry. Most capital equipment and food must be imported. Bermuda's industrial sector is largely focused on construction and agriculture is limited, with only 20% of the land being arable.

GDP (purchasing power parity):
$4.5 billion (2004 est.)
country comparison to the world: 170
[see also: GDP country ranks ]

GDP (official exchange rate):
$NA
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4.6% (2004 est.)
country comparison to the world: 68
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$69,900 (2004 est.)
country comparison to the world: 5
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 0.7%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 7%
services: 92.3% (2012 est.)

Labor force:
38,360 (2004)
country comparison to the world: 200
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture and fishing: 3%
laborers: 17%
clerical: 19%
professional and technical: 21%
administrative and managerial: 15%
sales: 7%
services: 19% (2004 est.)

Unemployment rate:
2.1% (2004 est.)
country comparison to the world: 16
[see also: Unemployment rate country ranks ]

Population below poverty line:
19% (2000)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%

Budget:
revenues: $738 million
[see also: Budget revenues country ranks ]
expenditures: $665 million (FY04/05)

Inflation rate (consumer prices):
2.7% (2012 est.)
country comparison to the world: 60

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