HAMILTON, Bermuda, CMC – The Bermuda government says its surplus on trade with non-residents totalled US$532 million, a decline of US$34 million from the previous year.
“Transactions related to trade in goods led to a contraction of the deficit on the goods account, decreasing by US$16 million to US$320 million. Decreased imports were associated mainly with finished equipment,” Economy and Labour Minister, Jason Hayward said, following the publication of the “2025 Q2 Balance of Payments & International Investment Position”.
Hayward said that service transactions realised a surplus of US$190 million, down US$113 million year over year.
“The decrease in the surplus balance reflected primarily a decrease in the export of services, combined with an increase in imports. The surplus on Bermuda’s primary income account increased by US$84 million to US$723 million due mainly to compensation earned or paid to non-residents, and income from investments and payroll tax paid by non-resident companies to the Government.”
Hayward said Bermuda’s trade in financial assets and liabilities with the rest of the world resulted in a net international investment position of US$5.1 billion at the end of the second quarter of 2025.
He said that this balance increased by US$202 million over the first quarter of last year and that two of the four institutional sectors recorded positive net international investment positions at the end of the second quarter.
“Specifically, financial corporations recorded a balance of US$7.6 billion, and non-profit institutions recorded a balance of US$98 million. In contrast, non-financial corporations recorded a deficit balance of US$2.1 billion while the government sector recorded a deficit balance of US$413 million,” Hayward added.
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