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Bermuda |
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| Background: |
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. Tourism continues to be important
to the island's economy, although international business has overtaken
it in recent years. Bermuda has developed into a highly successful offshore
financial center. A referendum on independence was soundly defeated
in 1995. |
| Location: |
North America, group of islands in the North Atlantic Ocean, east of
North Carolina (US) |
| Geographic
coordinates: |
32 20 N, 64 45 W |
| Map
references: |
North
America |
| Area: |
total: 53.3 sq km
water: 0 sq km
land:
53.3 sq km |
| Area
- comparative: |
about one-third the size of Washington, DC |
| Land
boundaries: |
0 km |
| Coastline: |
103 km |
| Maritime
claims: |
exclusive fishing zone: 200 NM
territorial sea:
12 NM |
| Climate: |
subtropical; mild, humid; gales, strong winds common in winter |
| Terrain: |
low hills separated by fertile depressions |
| Elevation
extremes: |
lowest point: Atlantic Ocean 0 m
highest point:
Town Hill 76 m |
| Natural
resources: |
limestone, pleasant climate fostering tourism |
| Land
use: |
arable land: 6%
permanent crops: 0%
other:
94% (55% developed, 45% rural/open space) (1998 est.) |
| Irrigated
land: |
NA sq km |
| Natural
hazards: |
hurricanes (June to November) |
| Environment
- current issues: |
asbestos disposal; water pollution; preservation of open space; sustainable
development |
| Geography
- note: |
consists of about 138 coral islands and islets with ample rainfall,
but no rivers or freshwater lakes; some land was leased by US Government
from 1941 to 1995
|
| Population: |
64,482 (July 2003 est.) |
| Age
structure: |
0-14 years: 19.2% (male 6,195; female 6,205)
15-64
years: 69.3% (male 22,110; female 22,574)
65 years and over:
11.5% (male 3,215; female 4,183) (2003 est.) |
| Median
age: |
total: 38.7 years
male: 37.8 years
female:
39.6 years (2002) |
| Population
growth rate: |
0.72% (2003 est.) |
| Birth
rate: |
12.13 births/1,000 population (2003 est.) |
| Death
rate: |
7.46 deaths/1,000 population (2003 est.) |
| Net
migration rate: |
2.56 migrant(s)/1,000 population (2003 est.) |
| Sex
ratio: |
at birth: 1.02 male(s)/female
under 15 years:
1 male(s)/female
15-64 years: 0.98 male(s)/female
65
years and over: 0.77 male(s)/female
total population:
0.96 male(s)/female (2003 est.) |
| Infant
mortality rate: |
total: 9.05 deaths/1,000 live births
female:
7.3 deaths/1,000 live births (2003 est.)
male: 10.77 deaths/1,000
live births |
| Life
expectancy at birth: |
total population: 77.41 years
male: 75.38 years
female: 79.49 years (2003 est.) |
| Total
fertility rate: |
1.9 children born/woman (2003 est.) |
| Nationality: |
noun: Bermudian(s)
adjective: Bermudian |
| Ethnic
groups: |
black 58%, white 36%, other 6% |
| Religions: |
non-Anglican Protestant 39%, Anglican 27%, Roman Catholic 15%, other
19% |
| Languages: |
English (official), Portuguese |
| Literacy: |
definition: age 15 and over can read and write
total
population: 98%
male: 98%
female: 99% (1970
est.)
|
| Economy
- overview: |
Bermuda enjoys one of the highest per capita incomes in the world, with
its economy primarily based on providing financial services for international
business and luxury facilities for tourists. The effects of 11 September
2001 have had both positive and negative ramifications for Bermuda.
On the positive side, a number of new reinsurance companies have located
on the island, 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 - has been severely
hit as American tourists have chosen not to travel. Tourism rebounded
somewhat in 2002, but remains below the pre-11 September level. Most
capital equipment and food must be imported. Bermuda's industrial sector
is small, although construction continues to be important. Agriculture
is limited, only 6% of the land being arable. |
| GDP: |
purchasing power parity - $2.25 billion (2002 est.) |
| GDP
- real growth rate: |
0.5% (2002 est.) |
| GDP
- per capita: |
purchasing power parity - $35,200 (2002 est.) |
| GDP
- composition by sector: |
agriculture: 1%
industry: 10%
services:
89% (2002 est.) |
| Population
below poverty line: |
NA% |
| Household
income or consumption by percentage share: |
lowest 10%: NA%
highest 10%: NA% |
| Inflation
rate (consumer prices): |
2.3% (July 2002) |
| Labor
force: |
37,472 (2000) |
| Labor
force - by occupation: |
clerical 22%, services 20%, laborers 17%, professional and technical
17%, administrative and managerial 13%, sales 8%, agriculture and fishing
3% (2000 est.) |
| Unemployment
rate: |
4.5% (1993) |
| Budget: |
revenues: $609.5 million
expenditures: $574.6
million, including capital expenditures of $54.8 million (FY00/01) |
| Industries: |
tourism, international business, light manufacturing |
| Industrial
production growth rate: |
NA% |
| Electricity
- production: |
643.7 million kWh (2001) |
| Electricity
- production by source: |
fossil fuel: 100%
hydro: 0%
other:
0% (2001)
nuclear: 0% |
| Electricity
- consumption: |
598.64 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) |
| Agriculture
- products: |
bananas, vegetables, citrus, flowers; dairy products |
| Exports: |
$51 million (2000) |
| Exports
- commodities: |
reexports of pharmaceuticals |
| Exports
- partners: |
EU excluding UK 78%, US 4.5%, UK 4.4% (2001) |
| Imports: |
$719 million (2000) |
| Imports
- commodities: |
machinery and transport equipment, construction materials, chemicals,
food and live animals |
| Imports
- partners: |
EU 48.5%, Kazakhstan 26.9%, US 8.2%, Mexico 3.8% (2001) |
| Debt
- external: |
$145 million (FY99/00) |
| Economic
aid - recipient: |
$NA |
| Currency: |
Bermudian dollar (BMD) |
| Currency
code: |
BMD |
| Exchange
rates: |
Bermudian dollar per US dollar - 1.0000 (fixed rate pegged to the US
dollar) |
| Fiscal
year: |
1 April - 31 March
|
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