Names: conventional long form: none conventional short form: Bermuda former: Somers Islands
Capital City: Hamilton
Population: 65,773 (July 2006 est.)
GDP Per Capita: $69,900 (2004 est.)
Currency: Bermudian dollar (BMD)
Languages: English (official), Portuguese
Total Area: total: 53.3 sq km land: 53.3 sq km water: 0 sq km about one-third the size of Washington, DC
Region: North America
Industries: international business, tourism, light manufacturing
Agriculture: bananas, vegetables, citrus, flowers; dairy products, honey
Resources: limestone, pleasant climate fostering tourism
Labor Force:
38,360 (2004)
agriculture and fishing 3%, laborers 3%, clerical 19%, professional and technical 17%, administrative and managerial 15%, sales 19%, services 19% (2004 est.)
Exports:
$1.469 billion (2004 est.)
reexports of pharmaceuticals
Imports:
$982 million (2004 est.)
clothing, fuels, machinery and transport equipment, construction materials, chemicals, food and live animals
Overview:
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 11 September 2001 and again after Hurricane Katrina, 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.
In 2007 Missouri exported $2,073,909 in goods to Bermuda. This ranks Bermuda 71st among the 223 international buyers of Missouri goods. Missouri exports to Bermuda increased from the previous year by $1,152,667 a change of 60.02%. State exports to Bermuda have increased over the last 5 years by $1,892,448 a change of 160.29%. Missouri exports account for .02%. of all 2007 US exports to Bermuda.
| NAICS Industry | Annual | ||||||
|---|---|---|---|---|---|---|---|
| 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | ||
| 000 - Total All Industries MO | 1,180,609 | 952,253 | 1,620,189 | 2,618,989 | 1,920,390 | 3,073,057 | |
| 000 - Total All Industries US | 415,170,976 | 401,214,858 | 471,874,027 | 489,175,996 | 637,729,525 | 660,073,766 | |