USA-Bermuda Bilateral Trade Analysis 2023
Complete trade statistics: $495.66M total volume •USA surplus: $483.86M
USA → Bermuda
$489.76M
Exports (2023)
Bermuda → USA
$5.90M
Imports (2023)
Trade Balance
$483.86M
Surplus for USA
Total Trade
$495.66M
Combined Volume
Trade Flow Visualization
Direct trade relationship between USA and Bermuda. Green line shows exports from USA, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the USA-Bermuda commercial relationship and competitive positioning in global markets.
USA → Bermuda Exports
Export Market Intelligence
🎯 Strategic Export Focus
USA's export portfolio to Bermuda demonstrates strategic specialization, with petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils representing a key competitive advantage in this bilateral market.
Bermuda → USA Imports
Import Dependency Profile
📦 Import Strategy Analysis
USA's import pattern from Bermuda reveals significant dependencyin rum and other spirits obtained by distilling fermented sugar-cane products, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
USA demonstrates competitive strength in exportingpetroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils to Bermuda, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $495.66M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: USA-Bermuda Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $495.66 millionrepresenting a significant bilateral economic relationship
- Trade Balance: USA maintains a surplus of $483.86 million
- Export Focus: USA's primary exports include petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, motorboats: (other than outboard motorboats), for pleasure or sports, other than inflatable, medical, surgical or dental instruments and appliances: n.e.c. in heading no. 9018
- Import Dependencies: Key imports from Bermuda include rum and other spirits obtained by distilling fermented sugar-cane products, ferrous waste and scrap: n.e.c. in heading no. 7204, paintings, drawings and pastels: executed entirely by hand, other than drawings of heading no. 4906
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $495.66M represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with USA leveraging its comparative advantages in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
USA's specialization in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oilscomplements Bermuda's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in rum and other spirits obtained by distilling fermented sugar-cane products.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $495.66M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $495.66M bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $495.66 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils and rum and other spirits obtained by distilling fermented sugar-cane products demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
USA's trade surplus of $483.86 million strengthens its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between USA and Bermuda represents a total trade volume of $495.66 million in 2023. This partnership demonstrates a favorable trade balance for USA, with exports exceeding importsby $483.86 million.
Export Strengths
USA's exports to Bermuda total $489.76 million, with competitive advantages in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, representing $52.53M or10.7% of bilateral exports.
Import Dependencies
Imports from Bermuda amount to $5.90 million, highlighting economic interdependence in rum and other spirits obtained by distilling fermented sugar-cane products, with Rum and other spirits obtained by distilling fermented sugar-cane products comprising34.3% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates USA's competitive position in this bilateral relationship. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between USA and Bermuda in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023