Bermuda had a balance of payments surplus of $813 million in 2014, with the value of goods and services sold by the Island to the rest of the world easily dwarfing the value of goods and services the Island bought from overseas.

As a barometer of the Island’s economic health, the new figures indicate a steady state of affairs, with no major swings in the value or volume of goods and services’ transactions between Bermuda and the rest of the world.

However, the surplus is $25 million lower than in 2013, and is also the second lowest recorded by Bermuda during the past nine years. The lowest surplus was in 2009, during the global financial crisis, when the figure dipped to $626 million.

Last year’s balance of payments were impacted by a reduction in travel receipts from cruise and air visitors, which fell $27 million year-on-year, and a net reduction in investment income of $56 million.

There was a strong finish to the year with the fourth quarter figures showing a balance of payments surplus of $232 million, up $130 million on the same quarter in 2013. This was primarily due a 10.3 per cent decrease in the value of imported goods and an improvement in dividend income received, which was up $92 million on the corresponding quarter in 2013.

The information was released by the Department of Statistics.

Bermuda’s net international investment position (IIP) improved in the fourth quarter to $4,341 million, and increase of $442 million on the third quarter.

The IIP is a record of Bermuda residents’ investments abroad and non-residents’ investment in Bermuda, including Government, financial and non-financial corporations.