top of pageBackground: 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. Although a referendum on independence from the UK was soundly defeated in 1995 the present government has reopened debate on the issue.
Climate: subtropical; mild humid; gales strong winds common in winter
Terrain: low hills separated by fertile depressions
GeographyNote: consists of about 138 coral islands and islets with ample rainfall but no rivers or freshwater lakes; some land was leased by the US Government from 1941 to 1995
top of pageEthnic groups: black 54.8% white 34.1% mixed 6.4% other races 4.3% unspecified 0.4% (2000 census)
Religions: Anglican 23% Roman Catholic 15% African Methodist Episcopal 11% other Protestant 18% other 12% unaffiliated 6% unspecified 1% none 14% (2000 census)
top of pageAdministrative divisions: 9 parishes and 2 municipalities*; Devonshire Hamilton Hamilton* Paget Pembroke Saint George* Saint George's Sandys Smith's Southampton Warwick
Executive branchChief of state: Queen ELIZABETH II ; represented by Governor Sir Richard GOZNEY (since 12 December 2007)
Head of government: Premier Paula COX (since 29 October 2010); Deputy Premier Derrick BURGESS
Cabinet: Cabinet nominated by the premier appointed by the governor
Elections: the monarchy is hereditary; governor appointed by the monarch; following legislative elections the leader of the majority party or the leader of the majority coalition usually appointed premier by the governor
Legislative branch: bicameral Parliament consists of the Senate (11 seats; members appointed by the governor the premier and the opposition) and the House of Assembly (36 seats; members are elected by popular vote to serve up to five-year terms)
Elections: last general election held on 18 December 2007 (next to be held not later than 2012)
Election results: percent of vote by party - PLP 52.5% UBP 47.3%; seats by party - PLP 22 UBP 14
Flag description: red with the flag of the UK in the upper hoist-side quadrant and the Bermudian coat of arms (a white shield with a red lion standing on a green grassy field holding a scrolled shield showing the sinking of the ship Sea Venture off Bermuda in 1609) centered on the outer half of the flag; it was the shipwreck of the vessel filled with English colonists originally bound for Virginia that led to settling of Bermuda
Note: the flag is unusual in that it is only British overseas territory that uses a red ensign all others use blue
top of pageEconomy overview: Bermuda enjoys the third highest per capita income in the world more than 50% higher than that of the US; the average cost of a house by the mid-2000s exceeded $1,000,000 Its economy is primarily based on providing financial services for international business and luxury facilities for tourists. A number of reinsurance companies relocated to the island following the 11 September 2001 attacks and again after Hurricane Katrina in August 2005 contributing to the expansion of an already robust international business sector. Bermuda's tourism industry - which derives over 80% of its visitors from the US - continues to struggle but remains the island's number two industry. Most capital equipment and food must be imported. Bermuda's industrial sector is largely focused on construction and agriculture is limited with only 20% of the land being arable.
Industries: international business tourism light manufacturing
Imports: $1.162 billion (2006)
Rank: 168
Commodities: clothing fuels machinery and transport equipment construction materials chemicals food and live animals
Partners: US 31.2% South Korea 26.71% Brazil 6.77% Ireland 6.11% Singapore 5.35% (2009)
Exchange rates: Bermudian dollars (BMD) per US dollar - 1.0000 (fixed rate pegged to the US dollar)
top of pagetop of pageBroadcast media: 3 television stations; cable and satellite TV subscription services are available; roughly 10 radio stations operating (2007)
top of pageMilitary service age and obligation: 18-30 years of age for voluntary or compulsory enlistment in the Bermuda Regiment; males must register at age 18; term of service is 38 months (2009)
top of pageMerchant marineTotal: 139
Rank: 43
By type: bulk carrier 22 chemical tanker 3 container 15 liquefied gas 38 passenger 26 passenger/cargo 6 petroleum tanker 20 refrigerated cargo 9
Foreign owned: 114 (China 13 France 1 Germany 15 Greece 2 Hong Kong 5 Ireland 2 Israel 3 Japan 2 Monaco 2 Nigeria 11 Norway 5 Sweden 17 UK 11 US 25)
Registered in other countries: 180 (Bahamas 12 Cyprus 1 Greece 3 Hong Kong 12 Isle of Man 7 Liberia 4 Malta 8 Marshall Islands 34 Norway 5 Panama 15 Philippines 43 Saint Vincent and the Grenadines 1 Singapore 21 UK 9 US 5) (2010)
Bermuda - Transnational issues 2010
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