Bermuda - Merchandise imports (current US$)

The value for Merchandise imports (current US$) in Bermuda was 785,000,000 as of 2020. As the graph below shows, over the past 40 years this indicator reached a maximum value of 1,167,000,000 in 2007 and a minimum value of 312,000,000 in 1980.

Definition: Merchandise imports show the c.i.f. value of goods received from the rest of the world valued in current U.S. dollars.

Source: World Trade Organization.

See also:

Year Value
1980 312,000,000
1981 323,000,000
1982 351,000,000
1983 378,000,000
1984 414,000,000
1985 403,000,000
1986 440,000,000
1987 420,000,000
1988 488,000,000
1989 535,000,000
1990 595,000,000
1991 510,000,000
1992 562,000,000
1993 534,000,000
1994 551,000,000
1995 550,000,000
1996 569,000,000
1997 619,000,000
1998 629,000,000
1999 712,000,000
2000 720,000,000
2001 720,000,000
2002 747,000,000
2003 833,000,000
2004 988,000,000
2005 985,000,000
2006 1,094,000,000
2007 1,167,000,000
2008 1,159,000,000
2009 1,064,000,000
2010 972,000,000
2011 900,000,000
2012 900,000,000
2013 1,012,000,000
2014 962,000,000
2015 934,000,000
2016 977,000,000
2017 1,095,000,000
2018 1,101,000,000
2019 1,146,000,000
2020 785,000,000

Limitations and Exceptions: The value of imports is generally recorded as the cost of the goods when purchased by the importer plus the cost of transport and insurance to the frontier of the importing country - the cost, insurance, and freight (c.i.f.) value, corresponding to the landed cost at the point of entry of foreign goods into the country. A few countries collect import data on a free on board (f.o.b.) basis and adjust them for freight and insurance costs. Countries may report trade according to the general or special system of trade. Under the general system imports include goods imported for domestic consumption and imports into bonded warehouses and free trade zones. Under the special system imports comprise goods imported for domestic consumption (including transformation and repair) and withdrawals for domestic consumption from bonded warehouses and free trade zones. Goods transported through a country en route to another are excluded. Data on imports of goods are derived from the same sources as data on exports. In principle, world exports and imports should be identical. Similarly, exports from an economy should equal the sum of imports by the rest of the world from that economy. But differences in timing and definitions result in discrepancies in reported values at all levels.

Statistical Concept and Methodology: Merchandise trade data are from customs reports of goods moving into or out of an economy or from reports of financial transactions related to merchandise trade recorded in the balance of payments. Because of differences in timing and definitions, trade flow estimates from customs reports and balance of payments may differ. Several international agencies process trade data, each correcting unreported or misreported data, leading to other differences. The data on total imports of goods (merchandise) are from the World Trade Organization (WTO), which obtains data from national statistical offices and the IMF's International Financial Statistics, supplemented by the Comtrade database and publications or databases of regional organizations, specialized agencies, economic groups, and private sources (such as Eurostat, the Food and Agriculture Organization, and country reports of the Economist Intelligence Unit). Country websites and email contact have improved collection of up-to-date statistics, reducing the proportion of estimates. The WTO database now covers most major traders in Africa, Asia, and Latin America, which together with high-income countries account for nearly 95 percent of world trade. Reliability of data for countries in Europe and Central Asia has also improved.

Aggregation method: Gap-filled total

Periodicity: Annual

Classification

Topic: Private Sector & Trade Indicators

Sub-Topic: Imports