Country Fast Facts: Bermuda

Bermuda was first settled in 1609 by shipwrecked English colonists headed for Virginia.

Tourism to the island to escape North American winters first developed in Victorian times.

Tourism continues to be important to the island's economy, although international business has overtaken it in recent years.

Bermuda has developed into a highly successful offshore financial center.

Although a referendum on independence from the UK was soundly defeated in 1995, the present government has reopened debate on the issue.

Source: CIA World Fact Book

Population:
66,163 (July 2007 est.)

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Age structure:
0-14 years: 18.3% (male 6,094/female 6,014)
15-64 years: 69.2% (male 22,696/female 23,094)
65 years and over: 12.5% (male 3,597/female 4,668) (2007 est.)

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Median age:
total: 40.6 years
male: 39.7 years
female: 41.4 years (2007 est.)

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Population growth rate:
0.576% (2007 est.)

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Birth rate:
11.26 births/1,000 population (2007 est.)

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Death rate:
7.84 deaths/1,000 population (2007 est.)

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Net migration rate:
2.34 migrant(s)/1,000 population (2007 est.)

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Sex ratio:
at birth: 1.02 male(s)/female
under 15 years: 1.013 male(s)/female
15-64 years: 0.983 male(s)/female
65 years and over: 0.771 male(s)/female
total population: 0.959 male(s)/female (2007 est.)

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Infant mortality rate:
total: 8.08 deaths/1,000 live births
male: 9.58 deaths/1,000 live births
female: 6.56 deaths/1,000 live births (2007 est.)

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Life expectancy at birth:
total population: 78.13 years
male: 76 years
female: 80.29 years (2007 est.)

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Total fertility rate:
1.88 children born/woman (2007 est.)

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HIV/AIDS - adult prevalence rate:
0.297% (2005)

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HIV/AIDS - people living with HIV/AIDS:
163 (2005)

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HIV/AIDS - deaths:
392 (2005)

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Nationality:
noun: Bermudian(s)
adjective: Bermudian

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Ethnic groups:
black 54.8%, white 34.1%, mixed 6.4%, other races 4.3%, unspecified 0.4% (2000 census)

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Religions:
Anglican 23%, Roman Catholic 15%, African Methodist Episcopal 11%, other Protestant 18%, other 12%, unaffiliated 6%, unspecified 1%, none 14% (2000 census)

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Languages:
English (official), Portuguese

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Literacy:
definition: age 15 and over can read and write
total population: 98%
male: 98%
female: 99% (2005 est.)

Bermuda enjoys the highest per capita income in the world, more than 50% higher than that of the US. 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 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 small, although construction continues to be important; the average cost of a house in June 2003 had risen to $976,000. Agriculture is limited with only 20% of the land being arable.

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GDP (purchasing power parity):
$4.5 billion (2004 est.)

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GDP (official exchange rate):
NA

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GDP - real growth rate:
4.6% (2004 est.)

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GDP - per capita (PPP):
$69,900 (2004 est.)

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GDP - composition by sector:
agriculture: 1%
industry: 10%
services: 89% (2002 est.)

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Labor force:
38,360 (2004)

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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.)

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Unemployment rate:
2.1% (2004 est.)

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Population below poverty line:
19% (2000)

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Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

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Inflation rate (consumer prices):
2.8% (November 2005)

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Budget:
revenues: $738 million
expenditures: $665 million (FY04/05)

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Agriculture - products:
bananas, vegetables, citrus, flowers; dairy products, honey

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Industries:
international business, tourism, light manufacturing

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Industrial production growth rate:
NA%

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Electricity - production:
682.5 million kWh (2005)

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Electricity - consumption:
616.7 million kWh (2005)

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Electricity - exports:
0 kWh (2005)

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Electricity - imports:
0 kWh (2004)

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Oil - production:
0 bbl/day (2004)

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Oil - consumption:
4,658 bbl/day (2005 est.)

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Oil - exports:
0 bbl/day (2005)

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Oil - imports:
NA bbl/day

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Oil - proved reserves:
0 bbl

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Natural gas - production:
0 cu m (2004 est.)

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Natural gas - consumption:
0 cu m (2004 est.)

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Exports:
$1.469 billion (2004 est.)

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Exports - commodities:
reexports of pharmaceuticals

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Exports - partners:
Spain 35%, UK 18.4%, Sweden 8.7%, Germany 4.1% (2006)

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Imports:
$982 million (2004 est.)

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Imports - commodities:
clothing, fuels, machinery and transport equipment, construction materials, chemicals, food and live animals

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Imports - partners:
South Korea 21.5%, US 16.7%, Germany 16.1%, Italy 13.4%, Spain 8.8% (2006)
Debt - external:
$160 million (FY99/00)

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Economic aid - recipient:
$NA

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Currency (code):
Bermudian dollar (BMD)

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Exchange rates:
Bermudian dollar per US dollar - 1.0000 (fixed rate pegged to the US dollar)

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Fiscal year:
1 April - 31 March