A British Overseas Territory and island in the North Atlantic Ocean, Bermuda shipped US$68.3 million worth of exported products around the world in 2024.

That dollar amount results from a 257.7% acceleration from $19.1 million 5 years earlier during 2020.

Year over year, the value of all goods exported from Bermuda spiked by 206.6% compared to $22.3 million for 2023.

The top 3 most valuable exports from Bermuda are highly capital-intensive aircraft or spacecraft parts, turbo-jets then regulating or controlling instruments. Combined, that trio of major export product categories accounted for 47% of total sales for Bermudian exported goods in 2024.

Bermuda’s Major Trading Partners

The latest available country-specific data shows that 100% of products exported from Bermuda was bought by importers in: United States of America (71.4% of the Bermudian total), New Zealand (21%), United Kingdom (4.2%), Dominican Republic (2%), France (0.93%), Canada (0.24%), Malaysia (0.14%) and Germany (0.12%).

From a continental perspective, 71.7% of Bermuda’s exports by value was delivered to North American countries while 21% was sold to importers in Oceania’s New Zealand. Bermuda shipped another 5.3% worth of goods to customers based in Europe.

Tinier percentages went to buyers in the Caribbean’s Dominican Republic (2%) then Asia’s Malaysia (0.1%).

Given Bermuda’s population of 65,000, the island shipped an average $1,050 worth of exported goods per capita in 2024. That metric surpasses the average $350 per capita for 2023.

Bermuda’s Top 10 Exports

The following export product groups represent the highest dollar value in Bermudian global shipments during 2024 at the 2-digit Harmonized Tariff System (HTS) code level. Also shown is the percentage share each export category represents in terms of overall exports from Bermuda.

1. Aircraft, spacecraft: US$28 million (40.9% of total exports)
2. Machinery including computers: $5.8 million (8.4%)
3. Optical, technical, medical apparatus: $2.4 million (3.4%)
4. Electrical machinery, equipment: $1.3 million (1.9%)
5. Gems, precious metals: $906,000 (1.3%)
6. Beverages, spirits, vinegar: $719,000 (1.1%)
7. Clocks, watches including parts: $463,000 (0.7%)
8. Other base metal goods: $337,000 (0.5%)
9. Articles of iron or steel: $299,000 (0.4%)
10. Base metal tools, cutlery: $277,000 (0.4%)

Bermuda’s top 10 export product categories generated nearly three-fifths (59.1%) of the overall value of its global shipments.

Aircraft and spacecraft represent the fastest grower among the top 10 export categories, up by 5,117% from 2023 to 2024.

In second place for improving export sales was the clocks and watches including parts category, propelled by a 534.2% advance.

Bermuda’s shipments of base metal tools and cutlery posted the third-fastest gain in value, up by 432.7%.

The leading decliner among Bermuda’s top 10 export categories was the beverages, spirits and vinegar grouping, recording a -81.8% year-over-year drop.

Products Generating Bermuda’s Best Trade Surpluses

Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports. This can result in a positive or negative trade balance.

In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.

Below are exports from Bermuda that result in positive net exports or product trade balance surpluses. The positive net export reveals the product category where foreign spending on home country Bermuda’s goods exceed Bermudian importer spending on foreign products.

• Aircraft, spacecraft: US$27.6 million (Up by 5,326% since 2023)

Products Causing Bermuda’s Worst Trade Deficits

Overall Bermuda incurred an -US$1.2 billion trade deficit in 2024, rising by 3.8% from -$1.158 billion in red ink one year earlier for 2023.

Below are exports from Bermuda that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Bermuda’s goods trail Bermudian importer spending on foreign products.

1. Mineral fuels including oil: -US$146.2 million (Up by 50.1% since 2023)
2. Books, newspapers, pictures: -$113.5 million (Up by 59.5%)
3. Machinery including computers: -$78.5 million (Up by 9.2%)
4. Electrical machinery, equipment: -$60.2 million (Up by 2.6%)
5. Furniture, bedding, lighting, signs, prefab buildings: -$55.1 million (Up by 11.5%)
6. Vehicles: -$53.1 million (Down by -8.9%)
7. Beverages, spirits, vinegar: -$50.6 million (Up by 2.1%)
8. Pharmaceuticals: -$37.8 million (Up by 8.9%)
9. Plastics, plastic articles: -$33.4 million (Down by -2.3%)
10. Meat: -$33.1 million (Up by 14.4%)

Historically, Bermuda has highly negative net exports and therefore deep international trade deficits for refined petroleum oils and petroleum gas under the product category mineral fuels including oil.

Bermudian Export Companies

Nine businesses with headquarters in Bermuda rank among Forbes Global 2000. Below is a sample of the world-class Bermudian companies that Forbes included.

1. Seadrill (oil services & equipment)
2. Everest Re Group (diversified insurance)
3. PartnerRe (diversified insurance)
4. Arch Capital Group (property/casualty insurance)
5. Axis Capital Holdings (diversified insurance)
6. Assured Guaranty (diversified insurance)
7. Nabors Industries (oil services & equipment)
8. Catlin Group (property/casualty insurance)
9. Signet Jewelers (jewelry stores)

Wikipedia lists exports-related companies from Bermuda. Selected examples are shown below.

• Bacardi (alcoholic beverages)
• Gosling Brothers (alcoholic beverages)
• Nabors Industries (oil, natural gas)
• Scorpion Offshore (oil, gas)

 

Bermuda’s capital city is Hamilton.

See also Cuba’s Top 10 Exports, Jamaica’s Top 10 Exports and Colombia’s Top Trading Partners

Research Sources:
FlagPictures.org, Flag of Bermuda. Accessed on February 3, 2026

Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on February 3, 2026

International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on February 3, 2026

Investopedia, Net Exports Definition. Accessed on February 3, 2026

Royal Gazette, Bermuda Employment statistics. Accessed on February 3, 2026

Trade Map, International Trade Centre. Accessed on February 3, 2026

Wikipedia, Bermuda. Accessed on February 3, 2026

Wikipedia, List of Companies of Bermuda. Accessed on February 3, 2026