Bermuda: Remittances

* indicates monthly or quarterly data series
 Bermuda

Remittances, million USD

 Latest value 1,800.00
 Year 2023
 Measure million U.S. dollars
 Data availability 2005 - 2023
 Average 1,356.74
 Min - Max 0.00 - 1,800.00
 Source The World Bank
The latest value from 2023 is 1800 million U.S. dollars, an increase from 1799.6 million U.S. dollars in 2022. In comparison, the world average is 4590.03 million U.S. dollars, based on data from 184 countries. Historically, the average for Bermuda from 2005 to 2023 is 1356.74 million U.S. dollars. The minimum value, 0 million U.S. dollars, was reached in 2005 while the maximum of 1800 million U.S. dollars was recorded in 2023. 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 data
Bermuda - Remittances - Recent values chart

Historical series
Bermuda - Remittances - historical chart - 2005-2023




Remittances are the money sent home by people who work in a foreign country. These are, for example, the money sent to Mexico by Mexican workers in the U.S.
Definition: Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.

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 Related indicators Latest Reference Measure
 Terms of trade 156.81 2021 percent
 Trade openness 77.54 2023 percent
 Exports, percent of GDP 50.46 2022 percent
 Exports, billion dollars 4.31 2023 billion U.S. dollars
 Growth of exports 9.82 2022 percent
 Imports, percent of GDP 25.05 2022 percent
 Imports, billion dollars 2.00 2023 billion U.S. dollars
 Foreign Direct Investment, percent of GDP 0.13 2022 percent
 Foreign Direct Investment, billion dollars 0.02 2023 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 25.42 2022 percent
 Trade balance, in dollars -0.79 2021 billion U.S. dollars
 Remittances, percent of GDP 22.99 2022 percent
 Remittances 1,800.00 2023 million U.S. dollars
 Net errors and omissions -93.08 2021 million USD
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