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; premier appointed by the governor
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
Judicial branch: Supreme Court
Political parties and leaders: United Bermuda Party or UBP
Political pressure groups and leaders: Bermuda Industrial Union
International organization participation: Caricom (observer),
CCC, ICFTU, Interpol (subbureau), IOC
Diplomatic representation in the US: none (overseas territory of
the UK)
Diplomatic representation from the US:
chief of mission: Consul General Robert A. FARMER
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
Flag description: red, with the flag of the UK in the upper hoist-side quadrant and the Bermudian coat of arms (white and blue 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
Economy
Economy—overview: 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.
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:
domestic: modern, fully automatic telephone system
international: 3 submarine cables; satellite earth stations—3
Intelsat (Atlantic Ocean)
Radio broadcast stations: AM 3, FM 3, shortwave 0
Radios: 78,000 (1992 est.)
Television broadcast stations: 3 (1997)
Televisions: 57,000 (1992 est.)
Transportation
Railways: 0 km
Highways:
total: 225 km
paved: 225 km
unpaved: 0 km (1997 est.)
note: in addition, there are 232 km of paved and unpaved roads that
are privately owned
Ports and harbors: Hamilton, Saint George
Merchant marine:
total: 97 ships (1,000 GRT or over) totaling 4,647,576 GRT/7,612,686
DWT
ships by type: bulk 18, cargo 3, chemical tanker 1, container 20,
liquefied gas tanker 7, oil tanker 27, refrigerated cargo 15,
roll-on/roll-off cargo 4, short-sea passenger 2
note: a flag of convenience registry; includes ships from 11
countries among which are UK 24, Canada 12, Hong Kong 11, US 11,
Nigeria 4, Sweden 4, Norway 3, and Switzerland 2 (1998 est.)
Airports: 1 (1998 est.)
Airports—with paved runways: total: 1 2,438 to 3,047 m: 1 (1998 est.)
Military
Military branches: Bermuda Regiment, Bermuda Police Force,
Bermuda Reserve Constabulary