The Bermuda economy is impressive to say the least. In 2011 its
gross domestic product (GDP) stood at over $5.5 billion. Not bad
for a country with a population of just over 64,000. It’s GDP
per capita is only bettered by a handful of countries such as
Liechtenstein, Monaco, and Luxembourg. |GDP per capita ($)||70,2
83||76,403||83,896||90,049||92,693||90,168||89,613||85,996|
Bermuda imports virtually everything (mainly from the US) and
manufactures and exports almost nothing. Import duties on the $1
billion worth of merchandise imported is one of the principal
sources of government revenue and partially explains the
country’s unusually high cost of living. Payroll taxes,
passenger tax, and taxes on international companies are the
other principal sources of income for the government. Imports
and Exports |Merchandise imports
($m)||965||964||1,061||1,151||1,145||1,051||969||893|
|Merchandise exports ($m)||35||25||27||25||24||29||15||14| Total
Government Revenue and Main Sources of Income |Total government
revenue