Bermuda

WorldABC.xyz: facts on every entity in the world

Bermuda was first settled in 1609 by shipwrecked English colonists heading for Virginia. Self-governing since 1620, Bermuda is the oldest and most populous of the British overseas territories. Vacationing 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 also developed into a highly successful offshore financial center. A referendum on independence from the UK was soundly defeated in 1995.

Geography

Location

North America, group of islands in the North Atlantic Ocean, east of South Carolina (US)

Geographic coordinates

32.20° N, 64.45° W

Area 232/257

total: 54 sq km

land: 54 sq km

water: 0 sq km

Area - comparative

about one-third the size of Washington, DC

Land boundaries

0 km

Coastline

103 km

Maritime claims

territorial sea: 12 nm

exclusive fishing zone: 200 nm

Climate

subtropical; mild, humid; gales, strong winds common in winter

Terrain

low hills separated by fertile depressions

Elevation

mean elevation:

elevation extremes:

lowest point: Atlantic Ocean 0 m

highest point: Town Hill 76 m

Natural resources

limestone, pleasant climate fostering tourism

Land use

agricultural land: 14.8%

arable land 14.8%; permanent crops 0%; permanent pasture 0%

forest: 20%

other: 65.2% (2011 est.)

Irrigated land

NA

Natural hazards

hurricanes (June to November)

Environment - current issues

sustainable development

Geography - note

consists of about 138 coral islands and islets with ample rainfall, but no rivers or freshwater lakes; some land was leased by the US Government from 1941 to 1995

People and Society

Nationality

noun: Bermudian(s)

adjective: Bermudian

Ethnic groups

black 53.8%, white 31%, mixed 7.5%, other 7.1%, unspecified 0.6% (2010 est.)

Languages

English (official), Portuguese

Religions

Protestant 46.2% (includes Anglican 15.8%, African Methodist Episcopal 8.6%, Seventh Day Adventist 6.7, Pentecostal 3.5%, Methodist 2.7%, Presbyterian 2.0 %, Church of God 1.6%, Baptist 1.2%, Salvation Army 1.1%, Bretheren 1.0%, other Protestant 2.0%), Roman Catholic 14.5%, Jehovah's Witness 1.3%, other Christian 9.1%, Muslim 1%, other 3.9%, none 17.8%, unspecified 6.2% (2010 est.)

Population 204/238

70,196 (July 2015 est.)

Age structure

0-14 years: 17.31% (male 6,144/female 6,009)

15-24 years: 12.21% (male 4,302/female 4,269)

25-54 years: 38.56% (male 13,541/female 13,526)

55-64 years: 15% (male 4,963/female 5,568)

65 years and over: 16.92% (male 5,002/female 6,872) (2015 est.)

Median age

total: 43.1 years

male: 41.2 years

female: 44.9 years (2015 est.)

Population growth rate 159/233

0.5% (2015 est.)

Birth rate 174/224

11.33 births/1,000 population (2015 est.)

Death rate 85/225

8.23 deaths/1,000 population (2015 est.)

Net migration rate 53/222

1.88 migrant(s)/1,000 population (2015 est.)

Urbanization

urban population: 100% of total population (2015)

rate of urbanization: 0.19% annual rate of change (2010-15 est.)

Major urban areas - population

HAMILTON (capital) 10,000 (2014)

Sex ratio

at birth: 1.02 male(s)/female

0-14 years: 1.02 male(s)/female

15-24 years: 1.01 male(s)/female

25-54 years: 1 male(s)/female

55-64 years: 0.89 male(s)/female

65 years and over: 0.73 male(s)/female

total population: 0.94 male(s)/female (2015 est.)

Infant mortality rate 219/224

total: 2.48 deaths/1,000 live births

male: 2.58 deaths/1,000 live births

female: 2.37 deaths/1,000 live births (2015 est.)

Life expectancy at birth 25/224

total population: 81.15 years

male: 77.94 years

female: 84.42 years (2015 est.)

Total fertility rate 130/224

1.95 children born/woman (2015 est.)

HIV/AIDS - adult prevalence rate

NA

HIV/AIDS - people living with HIV/AIDS

NA

HIV/AIDS - deaths

NA

Education expenditures 151/173

2.6% of GDP (2010)

School life expectancy (primary to tertiary education)

total: 12 years

male: 11 years

female: 13 years (2012)

Unemployment, youth ages 15-24

total: 35.7%

male: 34.8%

female: 36.5% (2012 est.)

Government

Country name

conventional long form: none

conventional short form: Bermuda

former: Somers Islands

etymology: the islands making up Bermuda are named after Juan de BERMUDEZ, a Spanish sea captain and the first European explorer of the archipelago in the early 16th century

Government type

parliamentary; self-governing territory

Capital

name: Hamilton

geographic coordinates: 32.17° N, 64.47° W

time difference: UTC-4 (1 hour ahead of Washington, DC, during Standard Time)

daylight saving time: +1hr, begins second Sunday in March; ends first Sunday in November

Administrative divisions

9 parishes and 2 municipalities*; Devonshire, Hamilton, Hamilton*, Paget, Pembroke, Saint George*, Saint George's, Sandys, Smith's, Southampton, Warwick

Independence

none (overseas territory of the UK)

National holiday

Bermuda Day, 24 May

Constitution

several previous (dating to 1684); latest entered into force 8 June 1968; amended several times, last in 2003 (2015)

Legal system

English common law

International law organization participation

has not submitted an ICJ jurisdiction declaration; non-party state to the ICCt

Citizenship

citizenship by birth: no

citizenship by descent only: at least one parent must be a citizen of the UK

dual citizenship recognized: yes

residency requirement for naturalization: 10 years

Suffrage

18 years of age; universal

Executive branch

chief of state: Queen ELIZABETH II (since 6 February 1952); represented by Governor George FERGUSSON (since 23 May 2012)

head of government: Premier Michael DUNKLEY (since 20 May 2014)

cabinet: Cabinet nominated by the premier, appointed by the governor

elections/appointments: the monarchy is hereditary; governor appointed by the monarch; following legislative elections, the leader of the majority party or majority coalition usually appointed premier by the governor

Legislative branch

description: bicameral Parliament consists of the Senate (11 seats; members appointed - 3 by the governor, 5 by the premier, and 3 by the opposition party; members serve 5-year terms) and the House of Assembly (36 seats; members directly elected in single-seat constituencies by simple majority vote to serve up to 5-year terms)

elections: last held on 17 December 2012 (next to be held not later than 2017)

election results: percent of vote by party - OBA 51.7%, PLP 46.1%, other 2.2%; seats by party - OBA 19, PLP 17

Judicial branch

highest resident court(s): Court of Appeal (consists of the court president and 4 justices); Supreme Court (consists of the chief justice, 4 puisne judges, and 1 associate justice); note - the Judicial Committee of the Privy Council, in London, is the court of final appeal

judge selection and term of office: Court of Appeal justice appointed by the governor; justice tenure by individual appointment; Supreme Court judges nominated by the Judicial and Legal Services Commission and appointed by the governor; judge tenure NA

subordinate courts: commercial court (began in 2006); magistrates' courts

Political parties and leaders

One Bermuda Alliance or OBA [Thad HOLLIS]

Progressive Labor Party or PLP [Marc BEAN]

Political pressure groups and leaders

Association of Bermuda Insurers and Reinsurers or ABIR [Bradley KADING]

Association of Bermuda International Companies or ABIC [George HUTCHINGS]

Bermuda Employer's Council [Keith JENSEN]

Bermuda Industrial Union or BIU [Chris Furbert]

Bermuda Public Services Union or BPSU [Kevin GRANT and Ed BALL]

Bermuda Union of Teachers [Michael CHARLES]

International organization participation

Caricom (associate), ICC (NGOs), Interpol (subbureau), IOC, ITUC (NGOs), UPU, WCO

Flag description

red, with the flag of the UK in the upper hoist-side quadrant and the Bermudian coat of arms (a white shield with a red lion standing on a green grassy field holding a scrolled shield showing the sinking of the ship Sea Venture off Bermuda in 1609) centered on the outer half of the flag; it was the shipwreck of the vessel, filled with English colonists originally bound for Virginia, that led to the settling of Bermuda

note: the flag is unusual in that it is only British overseas territory that uses a red ensign, all others use blue

National symbol(s)

red lion

National anthem

name: "Hail to Bermuda"

lyrics/music: Bette JOHNS

note: serves as a local anthem; as a territory of the United Kingdom, "God Save the Queen" is official (see United Kingdom)

Economy

Economy - overview

Bermuda's economy entered its seventh straight year of recession in 2015. Unemployment is 9%, public debt is growing and exceeds $2.3 billion, the government pension fund faces a $2.4 billion shortfall, and the economy has not attracted significant amounts of new foreign investment. Bermuda's FY 2015-16 budget proposal projects a 12% larger deficit than FY14/15. The government announced it would have to borrow $125 million in 2015 to meet current operating expenses. Still, Bermuda enjoys the fourth highest per capita income in the world, about 70% higher than that of the US. Tourism, which derives over 80% of its visitors from the US, accounts for 5.2% of GDP but a much larger share of employment. Tourism has struggled in the wake of the global recession of 2008. International business, which consists primarily of reinsurance and other financial services, is the real bedrock of Bermuda's economy, consistently accounting for about 85% of the island's GDP. Even this sector, however, has lost roughly 5000 high-paying expatriate jobs since 2008, weighing heavily on household consumption and retail sales. Bermuda must import almost everything. Agriculture and industry are limited due to the small size of the island.

GDP (purchasing power parity) 173/230

$5.198 billion (2013 est.)

$5.331 billion (2012 est.)

$5.6 billion (2011 est.)

GDP (official exchange rate)

$5.198 billion (2013 est.)

GDP - real growth rate 210/225

-2.5% (2013 est.)

-4.8% (2012)

-3.5% (2011 est.)

GDP - per capita (PPP) 6/230

$85,700 (2013 est.)

$85,400 (2012)

$86,000 (2011 est.)

GDP - composition, by end use

household consumption: 55.1%

government consumption: 17.3%

investment in fixed capital: 10.9%

investment in inventories: -0.1%

exports of goods and services: 47.3%

imports of goods and services: -30.5%

(2015 est.)

GDP - composition, by sector of origin

agriculture: 0.8%

industry: 5.9%

services: 93.3% (2015 est.)

Agriculture - products

bananas, vegetables, citrus, flowers; dairy products, honey

Industries

international business, tourism, light manufacturing

Industrial production growth rate 122/202

1.8% (2015 est.)

Labor force 203/233

33,490 (2014 est.)

Labor force - by occupation

agriculture: 2%

industry: 15%

services: 83% (2013 est.)

Unemployment rate 105/207

9% (2014 est.)

7% (2013)

Population below poverty line

11% (2008 est.)

Household income or consumption by percentage share

lowest 10%: NA%

highest 10%: NA%

Budget

revenues: $895.6 million

expenditures: $1.106 billion (2015 est.)

Taxes and other revenues 178/219

17.2% of GDP (2015 est.)

Budget surplus (+) or deficit (-) 147/220

-4% of GDP (2015 est.)

Public debt 105/176

43% of GDP (FY14/15)

Fiscal year

1 April - 31 March

Inflation rate (consumer prices) 94/226

1.6% (2015 est.)

2% (2014 est.)

Stock of narrow money 111/192

$3.374 billion (30 September 2014)

$3.422 billion (31 December 2013)

note: figures do not include US dollars, which also circulate freely

Stock of broad money 87/193

$22.1 billion (30 September 2014)

$25.1 billion (31 December 2013)

Stock of domestic credit

$NA

Market value of publicly traded shares 103/121

$1.487 billion (31 December 2012 est.)

$1.436 billion (31 December 2011)

$1.535 billion (31 December 2010 est.)

Exports 216/224

$12 million (2015 est.)

$11 million (2014 est.)

Exports - commodities

reexports of pharmaceuticals

Exports - partners

Indonesia 8.5%, US 8.1% (2014)

Imports 181/223

$958 million (2015 est.)

$968 million (2014 est.)

Imports - commodities

clothing, fuels, machinery and transport equipment, construction materials, chemicals, food and live animals

Imports - partners

South Korea 56.5%, US 17.9%, Singapore 9%, Turkmenistan 5.5%, China 5.2% (2014)

Debt - external 147/206

$2.435 billion (2015 est.)

$1.4 billion (2012 est.)

Stock of direct foreign investment - at home 106/120

$2.641 billion (2014 est.)

$2.664 billion (2013 est.)

Stock of direct foreign investment - abroad 84/105

$889 million (2014 est.)

$NA (2013 est.)

Exchange rates

Bermudian dollars (BMD) per US dollar -

1 (2015 est.)

1 (2014 est.)

1 (2013 est.)

1 (2012 est.)

Energy

Electricity - production 159/220

648.9 million kWh (2014 est.)

Electricity - consumption 166/219

664.2 million kWh (2013 est.)

Electricity - exports 105/218

0 kWh (2013 est.)

Electricity - imports 120/219

0 kWh (2013 est.)

Electricity - installed generating capacity 162/214

167,400 kW (2014 est.)

Electricity - from fossil fuels 54/214

98.2% of total installed capacity (2014 est.)

Electricity - from nuclear fuels 49/214

0% of total installed capacity (2014 est.)

Electricity - from hydroelectric plants 161/214

0% of total installed capacity (2014 est.)

Electricity - from other renewable sources 84/212

1.8% of total installed capacity

note: the Tynes Bay Waste Treatment Facility turns waste to electric energy (2014 est.)

Crude oil - production 108/214

0 bbl/day (2014 est.)

Crude oil - exports 99/214

0 bbl/day (2015 est.)

Crude oil - imports 160/214

0 bbl/day (2014 est.)

Crude oil - proved reserves 107/215

0 bbl (1 January 2015 est.)

Refined petroleum products - production 157/214

0 bbl/day (2012 est.)

Refined petroleum products - consumption 174/212

4,600 bbl/day (2013 est.)

Refined petroleum products - exports 155/214

0 bbl/day (2014 est.)

Refined petroleum products - imports 200/213

889.3 bbl/day (2015 est.)

Natural gas - production 157/216

0 cu m (2014 est.)

Natural gas - consumption 118/215

0 cu m (2013 est.)

Natural gas - exports 62/215

0 cu m (2013 est.)

Natural gas - imports 161/214

0 cu m (2014 est.)

Natural gas - proved reserves 112/212

0 cu m (1 January 2014 est.)

Carbon dioxide emissions from consumption of energy 175/212

614,200 Mt (2012 est.)

Communications

Telephones - fixed lines 173/219

total subscriptions: 29,200

subscriptions per 100 inhabitants: 42 (2014 est.)

Telephones - mobile cellular 201/217

total: 59,500

subscriptions per 100 inhabitants: 85 (2014 est.)

Telephone system

general assessment: a good, fully automatic digital telephone system with fiber-optic trunk lines

domestic: the system has a high fixed-line teledensity coupled with a mobile-cellular teledensity of roughly 125 per 100 persons

international: country code - 1-441; landing points for the GlobeNet, Gemini Bermuda, CBUS, and the Challenger Bermuda-1 (CB-1) submarine cables; satellite earth stations - 3 (2010)

Broadcast media

3 TV stations; cable and satellite TV subscription services are available; roughly 13 radio stations operating (2012)

Radio broadcast stations

AM 5, FM 4, shortwave 1 (2009)

Television broadcast stations

3 (2005)

Internet country code

.bm

Internet hosts 119/232

20,040 (2012)

Internet users 179/217

total: 68,300

percent of population: 97.8% (2014 est.)

Transportation

Airports 212/236

1 (2013)

Airports - with paved runways

total: 1

2,438 to 3,047 m: 1 (2013)

Roadways 198/223

total: 447 km

paved: 447 km

note: 225 km public roads; 222 km private roads (2010)

Merchant marine 41/156

total: 139

by type: bulk carrier 22, chemical tanker 3, container 14, liquefied gas 43, passenger 27, passenger/cargo 2, petroleum tanker 19, refrigerated cargo 9

foreign-owned: 105 (France 1, Germany 14, Greece 8, Hong Kong 4, Ireland 1, Israel 3, Japan 2, Monaco 2, Nigeria 11, Norway 5, Sweden 14, UK 14, US 26)

registered in other countries: 241 (Bahamas 15, Cyprus 1, France 5, Greece 3, Hong Kong 20, Isle of Man 7, Liberia 4, Malta 15, Marshall Islands 35, Netherlands 1, Norway 24, Panama 27, Philippines 47, Saint Vincent and the Grenadines 1, Singapore 25, UK 6, US 5) (2010)

Ports and terminals

major seaport(s): Hamilton, Ireland Island, Saint George

Military and Security

Military branches

Bermuda Regiment (2012)

Military service age and obligation

18-45 years of age for voluntary male or female enlistment in the Bermuda Regiment; males must register at age 18 and may be subject to conscription; term of service is 38 months for volunteers or conscripts (2012)

Transnational Issues

Disputes - international

none