top of pageBackground: Bermuda was first settled in 1609 by shipwrecked English colonists heading for Virginia. Self-governing since 1620 Bermuda is the oldest and most populous of the British overseas territories. Vacationing 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 also developed into a highly successful offshore financial center. A referendum on independence from the UK was soundly defeated in 1995.
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 53.8% white 31% mixed 7.5% other 7.1% unspecified 0.6% (2010 est.)
Religions: Protestant 46.2% (includes Anglican 15.8% African Methodist Episcopal 8.6% Seventh Day Adventist 6.7 Pentecostal 3.5% Methodist 2.7% Presbyterian 2.0 % Church of God 1.6% Baptist 1.2% Salvation Army 1.1% Bretheren 1.0% other Protestant 2.0%) Roman Catholic 14.5% Jehovah's Witness 1.3% other Christian 9.1% Muslim 1% other 3.9% none 17.8% unspecified 6.2% (2010 est.)
top of pageAdministrative divisions: 9 parishes and 2 municipalities*; Devonshire Hamilton Hamilton* Paget Pembroke Saint George* Saint George's Sandys Smith's Southampton Warwick
Constitution: several previous (dating to 1684); latest entered into force 8 June 1968; amended several times last in 2003 (2015)
Executive branchChief of state: Queen ELIZABETH II ; represented by Governor George FERGUSSON (since 23 May 2012)
Head of government: Premier Michael DUNKLEY
Cabinet: Cabinet nominated by the premier appointed by the governor
Electionsappointments: the monarchy is hereditary; governor appointed by the monarch; following legislative elections the leader of the majority party or majority coalition usually appointed premier by the governor
Legislative branchDescription: bicameral Parliament consists of the Senate and the House of Assembly (36 seats; members directly elected in single-seat constituencies by simple majority vote to serve up to 5-year terms)
Elections: last held on 17 December 2012
Election results: percent of vote by party - OBA 51.7% PLP 46.1% other 2.2%; seats by party - OBA 19 PLP 17
Judicial branchHighest resident court: Court of Appeal ; Supreme Court (consists of the chief justice 4 puisne judges and 1 associate justice); note - the Judicial Committee of the Privy Council in London is the court of final appeal
Judge selection and term of office: Court of Appeal justice appointed by the governor; justice tenure by individual appointment; Supreme Court judges nominated by the Judicial and Legal Services Commission and appointed by the governor; judge tenure NA
Subordinate courts: commercial court ; magistrates' courts
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 the 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's economy entered its seventh straight year of recession in 2015. Unemployment is 9% public debt is growing and exceeds $2.3 billion the government pension fund faces a $2.4 billion shortfall and the economy has not attracted significant amounts of new foreign investment. Bermuda's FY 2015-16 budget proposal projects a 12% larger deficit than FY14/15. The government announced it would have to borrow $125 million in 2015 to meet current operating expenses. Still Bermuda enjoys the fourth highest per capita income in the world about 70% higher than that of the US. Tourism which derives over 80% of its visitors from the US accounts for 5.2% of GDP but a much larger share of employment. Tourism has struggled in the wake of the global recession of 2008. International business which consists primarily of reinsurance and other financial services is the real bedrock of Bermuda's economy consistently accounting for about 85% of the island's GDP. Even this sector however has lost roughly 5,000 high-paying expatriate jobs since 2008 weighing heavily on household consumption and retail sales. Bermuda must import almost everything. Agriculture and industry are limited due to the small size of the island.
Industries: international business tourism light manufacturing
Stock of narrow money:
$3.374 billion (30 September 2014)
$3.422 billion (31 December 2013)
Note: figures do not include US dollars which also circulate freely
Rank: 113
Imports:
$968 million (2014 est.)
$1.012 billion (2013 est.)
Rank: 181
Commodities: clothing fuels machinery and transport equipment construction materials chemicals food and live animals
Partners: South Korea 56.5% US 17.9% Singapore 9% Turkmenistan 5.5% China 5.2% (2014)
Exchange rates:
Bermudian dollars (BMD) per US dollar -
1 (2014 est.)
1 (2013 est.)
1 (2012 est.)
top of pagetop of pageTelephone systemGeneral assessment: a good fully automatic digital telephone system with fiber-optic trunk lines
Domestic: the system has a high fixed-line teledensity coupled with a mobile-cellular teledensity of roughly 125 per 100 persons
International: country code - 1-441; landing points for the GlobeNet Gemini Bermuda CBUS and the Challenger Bermuda-1 submarine cables; satellite earth stations - 3 (2010)
Broadcast media: 3 TV stations; cable and satellite TV subscription services are available; roughly 13 radio stations operating (2012)
top of pageMilitary service age and obligation: 18-45 years of age for voluntary male or female enlistment in the Bermuda Regiment; males must register at age 18 and may be subject to conscription; term of service is 38 months for volunteers or conscripts (2012)
top of pageBermuda - Transnational issues 2015
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