and, contributing to the expansion of an already robust
international business sector. On the negative side, Bermuda's
tourism industry - which derives over 80% of its visitors from the
US - was severely hit as American tourists chose not to travel.
Tourism rebounded somewhat in 2002-03. Most capital equipment and
food must be imported. Bermuda's industrial sector is small,
although construction continues to be important; the average cost of
a house in June 2003 had risen to $976,000. Agriculture is limited,
only 6% of the land being arable.

GDP:
purchasing power parity - $2.33 billion (2003 est.)

GDP - real growth rate:
2% (2003 est.)

GDP - per capita:
purchasing power parity - $36,000 (2003 est.)

GDP - composition by sector:
agriculture: 1%
industry: 10%
services: 89% (2002 est.)

Population below poverty line:
19% (2000)

Household income or consumption by percentage share:
lowest 10%: NA
highest 10%: NA

Inflation rate (consumer prices):
3.3% (mid-2003 est.)

Labor force:
37,470 (2000)

Labor force - by occupation:
agriculture and fishing 3%, laborers 17%, clerical 22%,
professional and technical 17%, administrative and managerial 13%,
sales 8%, services 20% (2000 est.)

Unemployment rate:
5% (2002 est.)

Budget:
revenues: $671.1 million
expenditures: $594.6 million, including capital expenditures of $55
million (FY03/04)

Agriculture - products:
bananas, vegetables, citrus, flowers; dairy products

Industries:
tourism, international business, light manufacturing

Industrial production growth rate:
NA

Electricity - production:
643.7 million kWh (2001)

Electricity - consumption:
598.6 million kWh (2001)

Electricity - exports:
0 kWh (2001)

Electricity - imports:
0 kWh (2001)

Oil - production:
0 bbl/day (2001 est.)

Oil - consumption:
4,000 bbl/day (2001 est.)

Oil - exports:
NA (2001)

Oil - imports:
NA (2001)

Exports:
$879 million (2002)

Exports - commodities:
reexports of pharmaceuticals

Exports - partners:
France 62%, Norway 13.8%, UK 7.5% (2003)

Imports:
$5.523 billion (2002)

Imports - commodities:
machinery and transport equipment, construction materials,
chemicals, food and live animals

Imports - partners:
Kazakhstan 46.7%, France 32.5%, US 8.5% (2003)

Debt - external:
$160 million (FY99/00)

Economic aid - recipient:
NA

Currency:
B