Gross Domestic Product for Bermuda
MKTGDPBMA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,980,200,000.00
Year-over-Year Change
40.80%
Date Range
1/1/1960 - 1/1/2024
Summary
The Gross Domestic Product (GDP) for Bermuda measures the total value of goods and services produced within the Bermuda economy. It is a key indicator used by economists and policymakers to assess the overall health and growth of the country's economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
GDP represents the monetary value of all finished goods and services produced within a country's borders over a specific time period, typically a year or quarter. It is widely used to track economic performance and trends, inform policy decisions, and make international comparisons.
Methodology
The GDP for Bermuda is calculated by the World Bank using data on production, income, and expenditure collected through surveys and national accounts.
Historical Context
Bermuda's GDP is closely monitored by international institutions, investors, and analysts to understand the island's economic conditions and outlook.
Key Facts
- Bermuda has a high-income, service-based economy.
- Tourism and international business are major drivers of Bermuda's GDP.
- Bermuda's GDP per capita is among the highest in the world.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) for Bermuda measures the total monetary value of all goods and services produced within the Bermuda economy over a given time period.
Q: Why is this trend relevant for users or analysts?
A: Bermuda's GDP is a key indicator of the country's overall economic performance and growth, which is closely monitored by investors, policymakers, and international institutions.
Q: How is this data collected or calculated?
A: The GDP for Bermuda is calculated by the World Bank using data on production, income, and expenditure collected through surveys and national accounts.
Q: How is this trend used in economic policy?
A: Bermuda's GDP data is used by policymakers, economists, and analysts to assess the health of the country's economy, inform policy decisions, and make international comparisons.
Q: Are there update delays or limitations?
A: The GDP data for Bermuda may be subject to update delays and potential revisions by the World Bank as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product for Bermuda (MKTGDPBMA646NWDB), retrieved from FRED.