Summary
- Largest supplier: South Korea
- 61%
- Concentration (HHI)
- 4,519
- Products with a supplier above 50%
- 185
- Products with a supplier above 75%
- 148
Concentration index (HHI): 4,519 out of 10,000; equivalent to splitting purchases among 2 suppliers of the same size
Trend
Trend in shares
South Korea went from 4.4% to 61% of what Bermuda buys
Share (%)
- South Korea 61%
- United States 28.1%
- Canada 2.9%
- United Kingdom 1.7%
- China 0.97%
Source: CEPII BACI
Show the numbers
| Year | Largest supplier | Share |
|---|---|---|
| 1995 | United States | 50.5% |
| 1996 | United States | 25.5% |
| 1997 | United States | 35.2% |
| 1998 | United States | 29.4% |
| 1999 | United Kingdom | 21.6% |
| 2000 | Kazakhstan | 41.5% |
| 2001 | Kazakhstan | 40% |
| 2002 | Kazakhstan | 48.2% |
| 2003 | Kazakhstan | 61.7% |
| 2004 | Japan | 34.1% |
| 2005 | South Korea | 35.1% |
| 2006 | South Korea | 26.9% |
| 2007 | South Korea | 38.1% |
| 2008 | Italy | 28.7% |
| 2009 | South Korea | 34% |
| 2010 | South Korea | 40.3% |
| 2011 | South Korea | 41.3% |
| 2012 | South Korea | 53.6% |
| 2013 | South Korea | 62.6% |
| 2014 | South Korea | 63.2% |
| 2015 | South Korea | 56.4% |
| 2016 | South Korea | 46.8% |
| 2017 | South Korea | 42.6% |
| 2018 | United States | 38.9% |
| 2019 | United States | 48.5% |
| 2020 | South Korea | 49.6% |
| 2021 | United States | 30.2% |
| 2022 | United States | 40.3% |
| 2023 | United States | 50% |
| 2024 | South Korea | 61% |
Its suppliers
Products with a dominant supplier
Of the 203 products Bermuda buys for more than $1 million in 2024, these are the highest-value ones with a dominant supplier.
| Product | Supplier | Share | Second | Value |
|---|---|---|---|---|
| Cargo and cruise ships | South Korea | 100%over 75% | United States · 0% | $1.9 billion |
| Refined petroleum | United States | 57.4% | Canada · 26.1% | $238 million |
| Stamps and banknotes | United States | 98.4%over 75% | United Kingdom · 1.3% | $103 million |
| Medicines in measured doses or retail packs | United Kingdom | 50.7% | United States · 24.8% | $34 million |
| Furniture | United States | 80.3%over 75% | Canada · 11.8% | $30 million |
| Bread, biscuits and pastries | United States | 89.5%over 75% | United Kingdom · 9.4% | $16 million |
| Soft drinks | United States | 84.7%over 75% | Trinidad and Tobago · 2.9% | $14 million |
| Shipping containers | China | 95.4%over 75% | United States · 4.2% | $14 million |
| Poultry meat | United States | 90.6%over 75% | United Kingdom · 5.8% | $12 million |
| Air conditioners | United States | 83.2%over 75% | Netherlands · 7.4% | $12 million |
| Other food preparations | United States | 90.4%over 75% | United Kingdom · 3.8% | $10 million |
| Seats and chairs | United States | 89.4%over 75% | Canada · 3.8% | $10 million |
| Medical and dental instruments | United States | 82.9%over 75% | Canada · 8% | $10 million |
| Prepared meat | United States | 95.3%over 75% | United Kingdom · 4.1% | $9 million |
| Fresh beef | United States | 100%over 75% | United Kingdom · 0% | $9 million |
| Refrigerators, freezers and heat pumps | United States | 98.1%over 75% | Canada · 0.68% | $8 million |
| Plastic building fittings | United States | 83.3%over 75% | United Kingdom · 8.8% | $8 million |
| Cheese | United States | 88.1%over 75% | United Kingdom · 5.3% | $8 million |
| Yachts and pleasure boats | United States | 61.3% | Italy · 32% | $8 million |
| Trailers | United States | 98.3%over 75% | United Kingdom · 1.1% | $8 million |
| Computers | United States | 84.7%over 75% | Canada · 4.8% | $8 million |
| Other plastic articles | United States | 87.7%over 75% | United Kingdom · 6% | $8 million |
| Lamps and light fittings | United States | 90.5%over 75% | Canada · 5.2% | $7 million |
| Monitors and projectors | United States | 96.3%over 75% | Italy · 0.82% | $7 million |
| Sauces and condiments | United States | 85.9%over 75% | United Kingdom · 12.2% | $7 million |
and 160 more
A product has a dominant supplier when a single country sells more than 50% of what is bought of it; we flag it separately above 75%.
Selling: who it relies on
- Largest customer: Cyprus
- 73.5%
- Concentration (HHI)
- 5,671
Concentration index (HHI): 5,671 out of 10,000; equivalent to splitting sales among 2 customers of the same size
Trend in shares
Cyprus went from 0% to 73.5% of what Bermuda sells
Share (%)
- Cyprus 73.5%
- United States 16%
- Spain 1.8%
- United Kingdom 1.7%
- Angola 1.6%
Source: CEPII BACI
Show the numbers
| Year | Largest customer | Share |
|---|---|---|
| 1995 | Brazil | 33.9% |
| 1996 | Spain | 40.4% |
| 1997 | Norway | 37.7% |
| 1998 | Norway | 27.4% |
| 1999 | Netherlands | 20.5% |
| 2000 | Norway | 32.7% |
| 2001 | Norway | 35.3% |
| 2002 | Sweden | 30.6% |
| 2003 | Norway | 57.7% |
| 2004 | Spain | 23.9% |
| 2005 | Spain | 58.3% |
| 2006 | Spain | 58% |
| 2007 | Germany | 29.2% |
| 2008 | Norway | 79.3% |
| 2009 | India | 32.3% |
| 2010 | Spain | 74.2% |
| 2011 | Spain | 59.3% |
| 2012 | Australia | 37.7% |
| 2013 | Indonesia | 71.4% |
| 2014 | Mauritius | 33.7% |
| 2015 | Cyprus | 72.3% |
| 2016 | Germany | 62.9% |
| 2017 | Luxembourg | 43.6% |
| 2018 | Pakistan | 37.3% |
| 2019 | Ireland | 74.7% |
| 2020 | Netherlands | 76.2% |
| 2021 | Netherlands | 41.7% |
| 2022 | Zambia | 28% |
| 2023 | Germany | 38.2% |
| 2024 | Cyprus | 73.5% |
8 of the 9 products Bermuda sells for more than $1 million have a customer buying more than 50% of what Bermuda sells of that product; in 5, more than 75%. In those products, sales to each one’s dominant customer add up to 89.4% of what Bermuda sells.
| Product | Customer | Share | Second | Value |
|---|---|---|---|---|
| Cargo and cruise ships | Cyprus | 100%over 75% | — | $183 million |
| Aircraft parts | United States | 96.8%over 75% | France · 2% | $28 million |
| Turbojets and gas turbines | Angola | 51.1% | United States · 48.8% | $7 million |
| Shipping containers | South Africa | 52.8% | Spain · 23.3% | $5 million |
| Cameras and broadcast equipment | Spain | 98.3%over 75% | United States · 0.92% | $3 million |
| Computers | Georgia | 94.7%over 75% | United States · 3.7% | $2 million |
| Sorting and crushing machines | Dominican Republic | 50.5% | Singapore · 49.4% | $2 million |
| Yachts and pleasure boats | France | 88.4%over 75% | Spain · 8.6% | $1 million |
Concentration compared
The closest countries in the concentration ranking (HHI, highest first).
| Rank | Country | HHI |
|---|---|---|
| 10 | Greenland | 4,754 |
| 11 | Botswana | 4,754 |
| 12 | Bermuda | 4,519 |
| 13 | Laos | 4,510 |
| 14 | British Indian Ocean Territory | 4,445 |
| 15 | Anguilla | 4,358 |
Links
Sources and method
Sources and licenses
- CEPII BACI · Licence Ouverte Etalab 2.0
- Natural Earth · Public domain
Methodology
The data come from CEPII BACI (Etalab 2.0 licence), which reconciles what the exporting and the importing country report, in current USD, FOB. Data up to 2024.
Dependence is the share of a country’s imports (or exports) that each partner accounts for. It does not measure whether a product has a substitute or how much it would cost to change supplier.
The concentration index (HHI) adds up the square of each partner’s share, in percent: it runs from 0 to 10,000. Its equivalent is 10,000 ÷ HHI, the number of partners of the same size that would give that value.
Products are HS4 headings of the 1992 nomenclature (some combine different goods), with a floor of $1 million per product and country.
The EU is the 27 current members in every year; the United Kingdom is outside the EU throughout the series.
Re-exports: countries that act as redistribution hubs carry their notice and the figures are not corrected.