telephone: [1] (441) 295-1342
FAX: [1] (441) 295-1592
Flag description: red, with the flag of the UK in the upper hoist-side quadrant and the Bermudian coat of arms (white and green shield with a red lion holding a scrolled shield showing the sinking of the ship Sea Venture off Bermuda in 1609) centered on the outer half of the flag
Bermuda Economy
Economy - overview: Bermuda enjoys one of the highest per capita incomes in the world, having successfully exploited its location by providing financial services for international firms and luxury tourist facilities for 360,000 visitors annually. The tourist industry, which accounts for an estimated 28% of GDP, attracts 84% of its business from North America. The industrial sector is small, and agriculture is severely limited by a lack of suitable land. About 80% of food needs are imported. International business contributes over 60% of Bermuda's economic output; a failed independence vote in late 1995 can be partially attributed to Bermudian fears of scaring away foreign firms. Government economic priorities are the further strengthening of the tourist and international financial sectors.
GDP: purchasing power parity - $2.1 billion (2000 est.)
GDP - real growth rate: 1.5% (2000 est.)
GDP - per capita: purchasing power parity - $33,000 (2000 est.)
GDP - composition by sector: agriculture: 1%
industry: 10%