Surplus on trade with non-residents reaches $532m
Bermuda’s current account balance continued the upward trajectory it began after the third quarter of 2024, recording a surplus of $532 million in the second quarter of 2025.
The sum of Bermuda's surplus on trade with non-residents was released by the Ministry of Economy and Labour, in the 2025 Q2 Balance of Payments & International Investment Position publication.
Jason Hayward, the Minister of Economy and Labour, said the surplus was down $34 million from a year ago.
Mr Hayward said: “Transactions related to trade in goods led to a contraction of the deficit on the goods account, decreasing by $16 million to $320 million. Decreased imports were associated mainly with finished equipment.
He added: “Services transactions realised a surplus of $190 million, narrowing by $113 million year-over-year. The decrease in the surplus balance reflected primarily a decrease in the export of services combining with an increase in imports.
“The surplus on Bermuda’s primary income account increased by $84 million to $723 million due mainly to compensation earned or paid to non-residents, and income from investments and payroll tax paid by non-resident companies to the Government.
The minister continued: “Bermuda’s trade in financial assets and liabilities with the rest of the world resulted in a net international investment position of $5.1 billion at the end of the second quarter of 2025.
“This balance increased by $202 million over the first quarter of 2025. Two of the four institutional sectors recorded positive balances on their net international investment positions at the end of the second quarter.
“Specifically, financial corporations recorded a balance of $7.6 billion, and non-profit institutions recorded a balance of $98 million. In contrast, non-financial corporations recorded a deficit balance of $2.1 billion while the government sector recorded a deficit balance of $413 million.”
• For more on the 2025 Q2 Balance of Payments & International Investment Position publication, see Related Media or goonline
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