Bermuda: Imports, percent of GDP

* indicates monthly or quarterly data series
 Bermuda

Imports of goods and services as percent of GDP

 Latest value 25.97
 Year 2022
 Measure percent
 Data availability 2010 - 2022
 Average 24.26
 Min - Max 22.06 - 26.08
 Source The World Bank
For that indicator, we provide data for Bermuda from 2010 to 2022. The average value for Bermuda during that period was 24.26 percent with a minimum of 22.06 percent in 2020 and a maximum of 26.08 percent in 2018. The latest value from 2022 is 25.97 percent. For comparison, the world average in 2022 based on 133 countries is 51.99 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent values chart
Bermuda - Imports, percent of GDP - recent values

Historical chart
Bermuda - Imports, percent of GDP - historical chart - 2010-2022




The imports of Bermuda and other countries are calculated as the total amount of goods and services produced abroad and sold at home. Imports are often reported as percent of GDP so that we can evaluate their magnitude relative to the size of the economy.

If imports are about 15 percent or less of GDP the economy is considered relatively closed. That, for example, applies to the U.S. In contrast, many small European countries import over 40 percent of the products they consume. They are considered more open to international trade.
Definition: Imports of goods and services represent the value of all goods and other market services received from the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments.


 Related indicators Latest value Reference Measure
 Terms of trade 156.81 2021 percent
 Trade openness 78.29 2022 percent
 Exports, percent of GDP 52.32 2022 percent
 Exports, billion dollars 3.95 2022 billion U.S. dollars
 Growth of exports 8.22 2022 percent
 Imports, percent of GDP 25.97 2022 percent
 Imports, billion dollars 1.96 2022 billion U.S. dollars
 Foreign Direct Investment, percent of GDP -0.44 2022 percent
 Foreign Direct Investment, billion dollars -0.03 2022 billion U.S. dollars
 Portfolio investment inflows, equities 1.29 2021 million dollars (current)
 Current account, in dollars 0.96 2021 billion U.S. dollars
 Trade balance, percent of GDP 26.37 2022 percent
 Trade balance, in dollars -0.79 2021 billion U.S. dollars
 Remittances, percent of GDP 23.85 2022 percent
 Remittances 1.62 2017 million U.S. dollars
 Net errors and omissions -93.08 2021 million USD
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