Current Economy
As of 2004, Bermuda has a GDP (PPP) of US$4.5 billion, with a real growth rate of 4.6% and a per-capita PPP of US$69,900. 1% of the GDP consists of agriculture, 10% of industry, and 89% of services (2002 est.). For the 2004-05 fiscal year, the government had revenues of US$738 million and expenditures of US$665 million.
19% of the population is below the poverty line as of 2000. The inflation rate (consumer prices, as of 2005) is 2.8%. 19% of the total labor force of 38,360 is in clerical occupations, 22% services, 3% laborers, 17% professional and technical, 15% administrative and managerial, 19% sales, and 3% agriculture and fishing; there is an unemployment rate of 2.1% as of 2004.
As of 2006, Bermuda's exports (mostly reexports of pharmaceuticals) are valued at $783 million; export partners include Spain (13.8%), Germany (11.7%), Switzerland (8.8%), Denmark (6.6%), and the UK (6%). As of 2007, imports (of clothing, fuels, machinery and transport equipment, construction materials, chemicals, food, and live animals) are valued at $1.162 billion; import partners include South Korea (36.4%), the US (15.7%), Germany (13.2%) and Italy (11.8%). Bermuda has an external debt of $160 million as of 2000. Bermuda's currency is the Bermudian dollar, which is fixed as equal in value to the US dollar.
Read more about this topic: Economy Of Bermuda
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