Bermuda - PricingBermuda - Pricing
Job losses, company closures, and a declining population as a result of the continuing recession make pricing very important to Bermudians. Some grocery stores offer five percent price discounts on Wednesdays. Prices in Bermuda reflect the costs of importing nearly all goods and products, and this contributes significantly to the high cost of living. According to 2011 figures released by the World Bank’s International Comparison Program on April 29, 2014, Bermuda ranked third, after Switzerland and Norway, among the most expensive economies in which to live. In setting prices, vendors should consider shipping costs, customs duties/wharfage, competition, overhead costs and any wholesaler charges. There is no sales tax or VAT in Bermuda.
Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.