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Red
Sea Management provides Bermuda offshore incorporation, Bermuda
offshore asset protection and a full range of services. |
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Report on
Bermuda
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| Background:
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Bermuda was first settled in 1609 by shipwrecked English colonists
headed for Virginia. Tourism to the island to escape North American
winters first developed in Victorian times. Bermuda has developed into
a highly successful offshore financial center. A referendum on
independence was soundly defeated in 1995. |
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| Location:
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North America, group of islands in the North Atlantic Ocean, east of
North Carolina (US)
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Geographic coordinates:
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32 20 N, 64 45 W
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| Map
references:
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North America
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| Area: |
total: 58.8 sq km
land: 58.8 sq km
water: 0 sq km
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| Area -
comparative:
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about 0.3 times the size of Washington, DC
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| Land
boundaries: |
0 km
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Coastline:
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103 km
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| Maritime
claims:
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exclusive fishing zone: 200 NM
territorial sea: 12 NM
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| Climate:
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subtropical; mild, humid; gales, strong winds common in winter
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| Terrain:
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low hills separated by fertile depressions
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| Elevation
extremes:
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lowest point: Atlantic Ocean 0 m
highest point: Town Hill 76 m
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| Natural
resources:
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limestone, pleasant climate fostering tourism
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| Land use:
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arable land: 6%
permanent crops: 0%
permanent pastures: 0%
forests and woodland: 0%
other: 94% (55% developed, 39% rural/open space) (1997 est.)
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| Irrigated
land:
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NA sq km
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| Natural
hazards:
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hurricanes (June to November)
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Environment - current issues:
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asbestos disposal; water pollution; preservation of open space
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| Geography
- note:
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consists of about 360 small coral islands with ample rainfall, but no
rivers or freshwater lakes; some land, reclaimed and otherwise, was
leased by US Government from 1941 to 1995
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Population: |
63,503 (July 2001 est.)
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| Age
structure: |
0-14 years: 19.4% (male 6,091; female 6,230)
15-64 years: 69.43% (male 21,783; female 22,309)
65 years and over: 11.17% (male 3,073; female 4,017) (2001 est.)
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Population growth rate:
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0.74% (2001 est.)
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| Birth
rate: |
12.16 births/1,000 population (2001 est.)
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| Death
rate: |
7.42 deaths/1,000 population (2001 est.)
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| Net
migration rate: |
2.66 migrant(s)/1,000 population (2001 est.)
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| Sex
ratio: |
at birth: 0.94 male(s)/female
under 15 years: 0.98 male(s)/female
15-64 years: 0.98 male(s)/female
65 years and over: 0.76 male(s)/female
total population: 0.95 male(s)/female (2001 est.)
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| Infant
mortality rate: |
9.55 deaths/1,000 live births (2001 est.)
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| Life
expectancy at birth: |
total population: 77.12 years
male: 75.04 years
female: 79.06 years (2001 est.)
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| Total
fertility rate: |
1.81 children born/woman (2001 est.)
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| HIV/AIDS
- adult prevalence rate: |
NA |
| HIV/AIDS
- people living with HIV/AIDS: |
NA |
| HIV/AIDS
- deaths:
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NA |
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Nationality: |
noun: Bermudian(s)
adjective: Bermudian
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| Ethnic
groups:
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black 58%, white 36%, other 6%
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Religions:
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non-Anglican Protestant 39%, Anglican 27%, Roman Catholic 15%, other
19%
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Languages: |
English (official), Portuguese
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| Literacy: |
definition: age 15 and over can read and write
total population: 98%
male: 98%
female: 99% (1970 est.)
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| Country
name:
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conventional long form: none
conventional short form: Bermuda
former: Somers Islands
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Dependency status: |
overseas territory of the UK
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Government type:
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parliamentary British overseas territory with internal self-government
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| Capital: |
Hamilton
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Administrative divisions:
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9 parishes and 2 municipalities*; Devonshire, Hamilton, Hamilton*,
Paget, Pembroke, Saint George*, Saint Georges, Sandys, Smiths,
Southampton, Warwick
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Independence: |
none (overseas territory of the UK)
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| National
holiday: |
Bermuda Day, 24 May
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Constitution:
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8 June 1968, amended 1989
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| Legal
system: |
English law
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| Suffrage:
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18 years of age; universal
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Executive branch:
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chief of state: Queen ELIZABETH II (since 6 February 1952),
represented by Governor Thorold MASEFIELD (since NA June 1997)
head of government: Premier Jennifer SMITH (since 10 November 1998)
cabinet: Cabinet nominated by the premier, appointed by the governor
elections: none; the monarch is hereditary; governor appointed by the
monarch; governor invites leader of largest party in Parliament to
form a government as premier
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Legislative branch: |
bicameral Parliament consists of the Senate (an 11-member body
appointed by the governor) and the House of Assembly (40 seats;
members are elected by popular vote to serve five-year terms)
elections: last held 9 November 1998 (next to be held NA November
2003)
election results: percent of vote by party - PLP 54%, UBP 44%, NLP
1%, independents 1%; seats by party - PLP 26, UBP 14
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| Judicial
branch:
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Supreme Court; Court of Appeal; Magistrate Courts
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| Political
parties and leaders: |
National Liberal Party or NLP [Dessaline WALDRON]; Progressive Labor
Party or PLP [Jennifer SMITH]; United Bermuda Party or UBP [Pamela
GORDON]
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| Political
pressure groups and leaders: |
Bermuda Industrial Union or BIU [Derrick BURGESS]; Bermuda Public
Services Association or BPSA [Betty CHRISTOPHER]
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International organization participation: |
Caricom (observer), CCC, ICFTU, Interpol (subbureau), IOC
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Diplomatic representation in the US: |
none (overseas territory of the UK)
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Diplomatic representation from the US: |
chief of mission: Consul General Lawrence D. OWEN
consulate(s) general: Crown Hill, 16 Middle Road, Devonshire,
Hamilton
mailing address: P. O. Box HM325, Hamilton HMBX; American Consulate
General Hamilton, Department of State, Washington, DC 20520-5300
telephone: [1] (441) 295-1342
FAX: [1] (441) 295-1592
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| Flag
description: |
red, with the flag of the UK in the upper hoist-side quadrant and the
Bermudian coat of arms (white and green shield with a red lion holding
a scrolled shield showing the sinking of the ship Sea Venture off
Bermuda in 1609) centered on the outer half of the flag
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| Economy
- overview:
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Bermuda enjoys one of the highest per capita incomes in the world,
having successfully exploited its location by providing financial
services for international firms and luxury tourist facilities for
360,000 visitors annually. The tourist 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.
Government economic priorities are the further strengthening of the
tourist and international financial sectors.
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| GDP:
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purchasing power parity - $2.1 billion (2000 est.)
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| GDP -
real growth rate: |
1.5% (2000 est.)
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| GDP - per
capita: |
purchasing power parity - $33,000 (2000 est.)
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| GDP -
composition by sector: |
agriculture: 1%
industry: 10%
services: 89% (1995 est.)
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Population below poverty line: |
NA%
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| Household
income or consumption by percentage share: |
lowest 10%: NA%
highest 10%: NA%
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| Inflation
rate (consumer prices): |
2.7% (2000 est.)
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| Labor
force: |
35,296 (1997)
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| Labor
force - by occupation:
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clerical 23%, services 22%, laborers 17%, professional and technical
17%, administrative and managerial 12%, sales 7%, agriculture and
fishing 2% (1996)
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Unemployment rate: |
NEGL% (1995)
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| Budget:
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revenues: $504.6 million
expenditures: $537 million, including capital expenditures of $75
million (FY97/98)
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Industries: |
tourism, finance, insurance, structural concrete products, paints,
perfumes, pharmaceuticals, ship repairing
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Industrial production growth rate:
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NA%
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Electricity - production: |
550 million kWh (1999) |
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Electricity - production by source:
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fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1999)
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Electricity - consumption:
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511.5 million kWh (1999)
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Electricity - exports: |
0 kWh (1999)
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Electricity - imports: |
0 kWh (1999)
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Agriculture - products:
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bananas, vegetables, citrus, flowers; dairy products
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| Exports: |
$56 million (2000 est.)
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| Exports -
commodities: |
reexports of pharmaceuticals
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| Exports -
partners: |
UK 29.5%, US 9.8% (1997)
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| Imports: |
$739 million (2000 est.)
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| Imports -
commodities: |
machinery and transport equipment, construction materials, chemicals,
food and live animals
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| Imports -
partners: |
US 34%, UK 9%, Mexico 8% (1997)
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| Debt -
external: |
$NA
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| Economic
aid - recipient: |
$27.9 million (1995)
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| Currency:
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Bermudian dollar (BMD)
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| Currency
code: |
BMD
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| Exchange
rates:
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Bermudian dollar per US dollar - 1.0000 (fixed rate pegged to the US
dollar)
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| Fiscal
year: |
1 April - 31 March |
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Telephones - main lines in use:
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52,000 (1997)
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Telephones - mobile cellular: |
7,980 (1996)
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Telephone system: |
general assessment: NA
domestic: modern, fully automatic telephone system
international: 3 submarine cables; satellite earth stations - 3
Intelsat (Atlantic Ocean)
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| Radio
broadcast stations: |
AM 5, FM 3, shortwave 0 (1998)
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| Radios: |
82,000 (1997)
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Television broadcast stations: |
3 (1997) |
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Televisions: |
66,000 (1997) |
| Internet
country code: |
.bm |
| Internet
Service Providers (ISPs): |
20 (2000) |
| Internet
users: |
25,000 (2000) |
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| Railways:
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0 km
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| Highways: |
total: 225 km
paved: 225 km
unpaved: 0 km
note: in addition, there are 232 km of paved and unpaved roads that
are privately owned (1997)
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Waterways: |
none
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| Ports and
harbors: |
Hamilton, Saint George
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| Merchant
marine: |
total: 105 ships (1,000 GRT or over) totaling 5,836,538 GRT/9,728,045
DWT
ships by type: bulk 27, cargo 4, container 15, liquefied gas 7,
passenger 2, petroleum tanker 23, refrigerated cargo 16, roll on/roll
off 8, short-sea passenger 3
note: includes some foreign-owned ships registered here as a flag of
convenience: Canada 10, Hong Kong 10, Japan 1, Nigeria 4, Saudi Arabia
1, Sweden 3, Switzerland 2, UK 10, US 7 (2000 est.)
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| Airports: |
1 (2000 est.)
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| Airports
- with paved runways: |
total: 1
2,438 to 3,047 m: 1 (2000 est.)
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| Military
branches: |
Bermuda Regiment, Bermuda Police Force, Bermuda Reserve Constabulary
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| Military
expenditures - dollar figure: |
$NA
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| Military
expenditures - percent of GDP: |
NA%
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| Military
- note: |
defense is the responsibility of the UK
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| Disputes
- international: |
none |
