Gross Domestic Product Per Capita for Bermuda
PCAGDPBMA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
138,934.96
Year-over-Year Change
38.64%
Date Range
1/1/1960 - 1/1/2024
Summary
The Gross Domestic Product (GDP) per capita for Bermuda is a measure of the total economic output of the country divided by its population, providing insight into the standard of living and economic well-being of Bermuda's residents.
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
The GDP per capita trend represents the total economic output of Bermuda divided by its population, offering a gauge of the average income and purchasing power of the country's residents. This metric is widely used by economists and policymakers to assess a country's economic development and living standards.
Methodology
The data is calculated by the World Bank using official GDP and population figures reported by the Bermudian government.
Historical Context
Policymakers and analysts monitor Bermuda's GDP per capita to evaluate the country's economic performance and make informed decisions about economic and social policies.
Key Facts
- Bermuda has one of the highest GDP per capita in the world.
- The GDP per capita in Bermuda has grown by over 50% in the past two decades.
- Bermuda's economy is heavily dependent on international business and tourism.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) per capita for Bermuda measures the total economic output of the country divided by its population, providing insight into the standard of living and economic well-being of Bermuda's residents.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists and policymakers to assess a country's economic development and living standards, and to make informed decisions about economic and social policies.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using official GDP and population figures reported by the Bermudian government.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor Bermuda's GDP per capita to evaluate the country's economic performance and make informed decisions about economic and social policies.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank, and may be subject to revisions or delays in reporting from the Bermudian government.
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Citation
U.S. Federal Reserve, Gross Domestic Product Per Capita for Bermuda (PCAGDPBMA646NWDB), retrieved from FRED.