[ Nominal GDP in billions of USD ]
Year -
$9.23 billions
Bermuda GDP expanded from 1960 to 2024, increasing from $0.07 billion to $9.23 billion.The compound annual growth rate (CAGR) averaged 7.93% over the period. The economy recorded its peak level in 2024 and its lowest level in 1960. Growth volatility remained high. The maximum drawdown reached 9.6%, indicating the largest cyclical decline from peak levels. The country experienced 3 recession episode(s) during the observed period.
| Metric | Nominal GDP (Current USD) | GDP (PPP, Int$) |
|---|---|---|
| Latest Year | 2024 | 2024 |
| Latest GDP | $ 9.23 Billions | $ 8.03 Int Billions |
| Growth (YoY) | 7.627% | 8.535% |
| Net Change vs Previous Year | $ 0.65 Billion | $ 0.63 Int Billion |
| % of World GDP | 0.01% | 0.00% |
| Meaning | Nominal GDP (Current USD, exchange-rate based) | GDP (PPP, cost-of-living adjusted) |
| Nominal | PPP | |||||
|---|---|---|---|---|---|---|
| Year | Bil $ | Net Chg | % Chg | Int Bil $ | Net Chg | % Chg |
| 1960 | 0.07 | - | - | - | - | - |
| 1961 | 0.08 | 0 | 5.663 % | - | - | - |
| 1962 | 0.08 | 0 | 5.49 % | - | - | - |
| 1963 | 0.08 | 0 | 2.354 % | - | - | - |
| 1964 | 0.09 | 0.01 | 11.622 % | - | - | - |
| 1965 | 0.1 | 0.01 | 6.291 % | - | - | - |
| 1966 | 0.12 | 0.02 | 17.347 % | - | - | - |
| 1967 | 0.13 | 0.02 | 17.217 % | - | - | - |
| 1968 | 0.15 | 0.02 | 11.276 % | - | - | - |
| 1969 | 0.16 | 0.01 | 9.933 % | - | - | - |
| 1970 | 0.19 | 0.02 | 12.978 % | - | - | - |
| 1971 | 0.21 | 0.02 | 13.312 % | - | - | - |
| 1972 | 0.24 | 0.02 | 11.511 % | - | - | - |
| 1973 | 0.27 | 0.03 | 14.486 % | - | - | - |
| 1974 | 0.31 | 0.04 | 15.993 % | - | - | - |
| 1975 | 0.35 | 0.03 | 10.365 % | - | - | - |
| 1976 | 0.39 | 0.04 | 11.971 % | - | - | - |
| 1977 | 0.45 | 0.06 | 15.713 % | - | - | - |
| 1978 | 0.48 | 0.03 | 6.443 % | - | - | - |
| 1979 | 0.52 | 0.04 | 8.701 % | - | - | - |
| 1980 | 0.61 | 0.1 | 18.581 % | - | - | - |
| 1981 | 0.74 | 0.13 | 20.512 % | - | - | - |
| 1982 | 0.79 | 0.05 | 6.278 % | - | - | - |
| 1983 | 0.89 | 0.1 | 13.227 % | - | - | - |
| 1984 | 0.99 | 0.1 | 10.828 % | - | - | - |
| 1985 | 1.04 | 0.05 | 5.458 % | - | - | - |
| 1986 | 1.17 | 0.13 | 12.891 % | - | - | - |
| 1987 | 1.3 | 0.12 | 10.481 % | - | - | - |
| 1988 | 1.42 | 0.12 | 9.148 % | - | - | - |
| 1989 | 1.5 | 0.09 | 6.106 % | - | - | - |
| 1990 | 1.59 | 0.09 | 6.054 % | 2.07 | - | - |
| 1991 | 1.63 | 0.04 | 2.669 % | 2.06 | -0.01 | -0.272 % |
| 1992 | 1.68 | 0.04 | 2.752 % | 2.11 | 0.05 | 2.218 % |
| 1993 | 1.82 | 0.14 | 8.361 % | 2.22 | 0.11 | 5.45 % |
| 1994 | 1.87 | 0.05 | 2.571 % | 2.29 | 0.06 | 2.748 % |
| 1995 | 2.03 | 0.16 | 8.761 % | 2.44 | 0.15 | 6.588 % |
| 1996 | 2.7 | 0.66 | 32.729 % | 2.54 | 0.11 | 4.479 % |
| 1997 | 2.93 | 0.24 | 8.809 % | 2.71 | 0.16 | 6.404 % |
| 1998 | 3.13 | 0.2 | 6.748 % | 2.84 | 0.14 | 5.068 % |
| 1999 | 3.32 | 0.19 | 6.187 % | 2.98 | 0.14 | 4.846 % |
| 2000 | 3.48 | 0.16 | 4.686 % | 3.33 | 0.35 | 11.793 % |
| 2001 | 3.68 | 0.2 | 5.754 % | 3.66 | 0.32 | 9.637 % |
| 2002 | 3.94 | 0.26 | 6.976 % | 3.66 | 0 | 0.053 % |
| 2003 | 4.19 | 0.25 | 6.332 % | 3.86 | 0.2 | 5.452 % |
| 2004 | 4.48 | 0.3 | 7.122 % | 4.05 | 0.2 | 5.073 % |
| 2005 | 4.87 | 0.38 | 8.55 % | 4.25 | 0.2 | 4.862 % |
| 2006 | 6.14 | 1.28 | 26.208 % | 4.62 | 0.37 | 8.799 % |
| 2007 | 6.77 | 0.62 | 10.14 % | 4.91 | 0.28 | 6.145 % |
| 2008 | 6.98 | 0.21 | 3.148 % | 4.91 | 0 | 0.025 % |
| 2009 | 6.66 | -0.32 | -4.642 % | 4.66 | -0.25 | -5.045 % |
| 2010 | 6.63 | -0.02 | -0.323 % | 4.6 | -0.06 | -1.318 % |
| 2011 | 6.31 | -0.32 | -4.851 % | 4.52 | -0.08 | -1.757 % |
| 2012 | 6.38 | 0.07 | 1.038 % | 4.4 | -0.12 | -2.619 % |
| 2013 | 6.47 | 0.09 | 1.373 % | 4.55 | 0.15 | 3.311 % |
| 2014 | 6.41 | -0.05 | -0.801 % | 4.57 | 0.03 | 0.584 % |
| 2015 | 6.65 | 0.24 | 3.75 % | 4.82 | 0.25 | 5.386 % |
| 2016 | 6.9 | 0.25 | 3.687 % | 5.1 | 0.28 | 5.859 % |
| 2017 | 7.14 | 0.24 | 3.513 % | 5.45 | 0.35 | 6.769 % |
| 2018 | 7.23 | 0.08 | 1.171 % | 5.49 | 0.04 | 0.746 % |
| 2019 | 7.42 | 0.2 | 2.733 % | 5.83 | 0.34 | 6.28 % |
| 2020 | 6.89 | -0.54 | -7.222 % | 5.48 | -0.35 | -6.015 % |
| 2021 | 7.29 | 0.4 | 5.847 % | 5.97 | 0.49 | 8.873 % |
| 2022 | 7.87 | 0.58 | 8.016 % | 6.81 | 0.84 | 14.067 % |
| 2023 | 8.58 | 0.7 | 8.951 % | 7.4 | 0.59 | 8.693 % |
| 2024 | 9.23 | 0.65 | 7.627 % | 8.03 | 0.63 | 8.535 % |
Between 1960 to 2024, Bermuda experienced the following economic phases:
The most remarkable growth occurred in 1996 with an increase of 32.729%, while the largest decline was in 2020 at -7.222%.