Trade Trend

In 2023, Bermuda's total export value is 22.28Million USD, total import value is 1.18Billion USD, Deficit is -1.16Billion USD. In 2023，Bermuda's top export products are Customized software, test reports, blueprints and similar items (for export only)(6.07Million USD), Ethyl alcohol, undenatured; of an alcoholic strength by volume of less than 80% volume; spirits, liqueurs and other spirituous beverages(3.94Million USD), Yachts and other vessels; for pleasure or sports, rowing boats and canoes(1.95Million USD), top export destinations are United States(20.04Million USD), Canada(561.09Thousands USD), United Kingdom(508.60Thousands USD). In 2023, Bermuda's top import products are Customized software, test reports, blueprints and similar items (for export only)(165.53Million USD), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(95.15Million USD), Unused postage, revenue or similar stamps of current or new issue in the country in which they have, or will have, a recognised face value; stampimpressed paper; cheque forms; banknotes, stock, share or bond certificates and the like of similar title(67.94Million USD), top import origins are United States(878.87Million USD), United Kingdom(61.16Million USD), Canada(47.51Million USD).

Comparing to 2022, Bermuda's total export value decreased -11.24Million USD(-33.53%) in 2023, this could result from its export decreases of products such as Customized software, test reports, blueprints and similar items (for export only)(-14.62Million USD or -70.67%), Reciprocating or rotary internal combustion piston engines(-1.83Million USD or -99.97%), Machinery and mechanical appliances; having individual functions, n.e.c. in this chapter(-638.50Thousands USD or -98.84%) and export decreases to countries/economics such as United States(-8.34Million USD or -29.39%), United Kingdom(-2.72Million USD or -84.25%), Canada(-425.37Thousands USD or -43.12%). Comparing to 2022, Bermuda's total import value decreased -22.14Million USD(-1.84%) in 2023, this could result from its import decreases of products such as Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(-42.87Million USD or -31.06%), Coin(-8.72Million USD or -85.95%), Scissors; tailors shears and similar shears, and blades therefore(-8.21Million USD or -99.37%), and its import decreases from countries/economies such as Canada(-54.31Million USD or -53.34%), Germany(-9.52Million USD or -51.77%), China(-8.60Million USD or -24.98%).

Cumulated to first 7 months of 2024, Bermuda's total export value is 15.46Million USD, total import value is 910.31Million USD, and tradedeficit is -894.86Million USD. Cumulated to first 7 months of 2024, Bermuda's top export products are Commodities not specified according to kind(5.50Million USD), Turbojets, turbopropellers and other gas turbines(3.38Million USD), Automatic data processing machines and units thereof, magnetic or optical readers, machines for transcribing data onto data media in coded form and machines for processing such data, not elsewhere specified or included(1.49Million USD), and top export destinations are United States(12.10Million USD), Georgia(1.44Million USD), United Kingdom(990.77Thousands USD). Cumulated to first 7 months of 2024, Bermuda's top import products are Commodities not specified according to kind(5.50Million USD), Turbojets, turbopropellers and other gas turbines(3.38Million USD), Automatic data processing machines and units thereof, magnetic or optical readers, machines for transcribing data onto data media in coded form and machines for processing such data, not elsewhere specified or included(1.49Million USD), and top import origins areSouth Korea(419.36Million USD), United States(319.98Million USD), China(89.25Million USD).