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Bermuda Tariff Rate

Bermuda's tariff rate rose to 22.29% in 2022, up from 22.24% in 2021, according to World Bank. This represents an increase of 0.05% from the previous year. Bermuda has the 3rd highest tariff rate. Other top countries are Bahamas, Cayman Islands, Equatorial Guinea and Central African Republic.

Yearly Historical Data (2007-2022)

(in %)
Year Tariff Rate (%)
2022 22.29%
2021 22.24%
2020 22.26%
2019 39.96%
2018 24.13%
2017 19.9%
2016 18.45%
2015 18.7%
2014 18.15%
2013 18.32%
2012 18.4%
2011 18.92%
2010 18.92%
2009 19.15%
2008 19.16%
2007 19.34%
Bermuda Tariff Rate : Definition
Tariff Rate measures the simple average of the import taxes applied by Bermuda on all products, expressed as a percentage.
Indicator Last Value Prior Value Period
Annual Exports $22.28M $33.53M 2023
Annual Imports $1.18B $1.19B 2023
Exports (% GDP) 56.31% 50.23% 2024
FDI Inflows (% GDP) 1.76% 0.07% 2023
Imports (% GDP) 24.21% 23.36% 2024
Net Trade (Goods & Services, BoP) -$701.16M -$809.91M 2023
Trade (% GDP) 80.52% 73.59% 2024