industry, which accounts for an estimated 28% of GDP, attracts 84%
of its business from North America. The industrial sector is small,
and agriculture is severely limited by a lack of suitable land.
About 80% of food needs are imported. International business
contributes over 60% of Bermuda's economic output; a failed
independence vote in late 1995 can be partially attributed to
Bermudian fears of scaring away foreign firms.

GDP: purchasing power parity--$1.9 billion (1997 est.)

GDP--real growth rate: 3% (1997 est.)

GDP--per capita: purchasing power parity?$30,000 (1997 est.)

GDP--composition by sector:
agriculture: NA%
industry: NA%
services: NA%

Population below poverty line: NA%

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

Inflation rate (consumer prices): 2.1% (1997)

Labor force: 35,296 (1997)

Labor force--by occupation: clerical 23%, services 22%, laborers
17%, professional and technical 17%, administrative and managerial
12%, sales 7%, agriculture and fishing 2% (1996)

Unemployment rate: NEGL% (1995)

Budget:
revenues: $504.6 million
expenditures: $537 million, including capital expenditures of $75
million (FY97/98)

Industries: tourism, finance, insurance, structural concrete
products, paints, perfumes, pharmaceuticals, ship repairing

Industrial production growth rate: NA%

Electricity--production: 480 million kWh (1996)

Electricity--production by source:
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1996)

Electricity--consumption: 480 million kWh (1996)

Electricity--exports: 0 kWh (1996)

Electricity--imports: 0 kWh (1996)

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

Exports: $57 million (1997)

Exports--commodities: reexports of pharmaceuticals

Exports--partners: Netherlands 50%, Brazil 13%, Canada 6% (1996)

Imports: $617 million (1997)

Imports--commodities: miscellaneous manufactured articles,
machinery and transport equipment, food and live animals, chemicals

Imports--partners: US 73%, UK 5%, Canada 4% (1996 est.)

Debt--external: $NA

Economic aid--recipient: $27.9 million (1995)

Currency: 1 Bermudian dollar (Bd$) = 100 cents

Exchange rates: Bermudian dollar (Bd$) per US$1--1.0000 (fixed
rate)

Fiscal year: 1 April--31 March

Communications

Telephones: 54,000 (1991 est.)

Telephone system:
domest