Bermuda recorded a $532 million surplus on trade with non-residents in the second quarter of 2025, the Ministry of Economy and Labour reported, down $34 million from the same period last year.
Minister of Economy and Labour, Jason Hayward, explained that transactions in goods helped narrow the deficit on the goods account by $16 million to $320 million, primarily due to decreased imports of finished equipment.
“Services transactions realised a surplus of $190 million, narrowing by $113 million year-over-year,” the Minister said. “This decrease largely reflects lower exports of services combined with higher imports.”
The surplus on Bermuda’s primary income account rose $84 million to $723 million, driven by compensation earned or paid to non-residents, investment income, and payroll taxes paid by non-resident companies.
Bermuda’s trade in financial assets and liabilities with the rest of the world produced a net international investment position of $5.1 billion at the end of Q2 2025, up $202 million from the previous quarter. Two institutional sectors reported positive net positions: financial corporations with $7.6 billion and non-profit institutions with $98 million. Meanwhile, non-financial corporations recorded a deficit of $2.1 billion, and the government sector had a deficit of $413 million.
Minister Hayward emphasized that the results reflect Bermuda’s continued engagement in global trade and investment while highlighting the financial sector’s strong position in the international market.
