Gross domestic product
Gross domestic product (GDP) is a measure of economic activity which captures the value of goods and services produced within a country during a given period. GDP can be expressed in nominal or real terms.
Quarterly Bulletin of Statistics
Compiled by the Economics Division of the Department of Statistics, the Quarterly Bulletin of Statistics (QBS) is a summary report and contains some of the quarterly data collected by the Department. Statistics included in this report are imports to Bermuda, overseas declarations by Bermuda’s residents, and employment income (by industry) as well as a variety of tourism related statistics including visitor arrivals and expenditure, hotel employment and hotel gross receipts.
Retail Sales Index
The Retail Sales Index (RSI) is produced by the Economic Division of the Department of Statistics and is a key economic indicator used to assess the current performance of sales activity in the retail sector. The RSI measures goods sold by retailers based on a sampling of retail stores. The RSI is considered a self-weighting index, as stores reporting a large value of sales have a greater impact on the movement of the index than stores reporting a low level of sales activity.
Retail sales index reports are released each month.
Tourism Satellite Account
The Tourism Satellite Account is the conceptual framework for a comprehensive reconciliation of tourism data related with supply and demand. A tourism industry represents the grouping of those establishments whose main activity is the same tourism characteristic activity. The effects of a tourism industry’s activity are measured in three ways: direct, indirect and induced effects. The overall economic impacts of tourism on the economy are a combination of these effects and can be established for different types of economic variables such as output, employment and wages.
Bermuda’s tourism sector provides hundreds of millions of dollars in government revenue. Tourism’s contribution to the Bermuda economy is measured manually and released each year.
Information and Communications Technology Statistics
The Information and Communication Technologies (ICT) sector comprises a combination of manufacturing and services industries that enable or fulfil the function of information processing and communication, including transmission and display by electronic means. These industries are involved in the development, delivery and support of advanced technological products.
The information and communications technology sector contributed over $200 million to Bermuda’s GDP in 2014. These figures are updated and released yearly.
Balance of Payments
Bermuda’s Department of Statistics constantly compares the economic transactions between Bermuda and the rest of the world, examining:
• transactions in exports and imports of goods, services, and personal transfers
• transactions in financial assets, financial liabilities and capital transfers.
This report is updated each quarter.