News Release: HAMILTON, Bermuda – Today, the Minister of Economy and Labour, Jason Hayward released the 2021 Q3 Balance of Payments & International Investment Position publication from the Department of Statistics.

 The Minister explained: “Bermuda’s trade with non-residents resulted in a $164 million surplus for the third quarter of 2021, decreasing $16 million from a year ago. 

“Transactions related to trade in goods resulted in a wider deficit on the goods account, increasing by $70 million to $294 million. Higher imports were associated mainly with finished equipment and fuel.

Minister Hayward added: “Services transactions realised a surplus of $51 million, rising $4 million year-over-year. An improvement was recorded on the travel account due to higher visitor expenditure which offset a larger deficit on the transportation account. The surplus on Bermuda’s primary income account rose by $44 million to $480 million due mostly to an increase in net employee compensation.

Jason Hayward, Minister of Labour

The 2021 Q3 Balance of Payments & International Investment Position publication is available online at https://www.gov.bm/balance-payments. The public is advised to read the concepts and definitions located on the last page of the publication before reviewing the data.