Bermuda - Wholesale & Retail Trade, Motor Vehicles & Repair ServicesBermuda – Wholesale
Overview
Bermuda has virtually no manufacturing capacity, so nearly all goods are imported. The U.S. is the primary source of imports at approximately 71%), followed by Canada (about 12%), the Caribbean (about 1%), the U.K. (about 3%), and other countries (about 10%). Value added in this industry decreased from $1.004 billion in 2013 to $962.4 million in 2014, the most recent year for which data are available. Wholesale distributors supply retail stores and restaurants with high quality merchandise from both sides of the Atlantic. The retail trade sector is heavily dependent on resident and visitor spending and is closely correlated to the global economy as a whole.
Sub-Sector Best Prospects
Bermuda imports a wide variety of goods in the sub-sectors of food, liquor, clothing, health and beauty supplies, restaurant equipment and supplies, automobiles and motorcycles and parts, building materials, hardware goods, household consumer goods, appliances, and pharmaceuticals.
Opportunities
The GOB promotes the use of energy-efficient products and technology. Although rebates for solar/green products ceased in 2014, duty on most such goods remains at 0%.
Web Resources
Bermuda Chamber of Commerce: www.bermudachamber.bm
Bermuda Yellow Pages: www.bermudayp.com
Registrar of Companies: www.roc.gov.bm
|
2014 |
2015 |
2016 |
2017 (Estimated) |
Market Size |
4,093 |
n/a |
n/a |
n/a |
Local Production |
$376,100 |
n/a |
n/a |
n/a |
Imports |
n/a |
n/a |
n/a |
n/a |
Exports |
n/a |
n/a |
n/a |
n/a |
Total Market Size |
n/a |
n/a |
n/a |
n/a |
$US thousands (total market size = (total local production + imports) - exports)