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Bermuda’s GNI leads way in Caribbean

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Bermuda is five times richer than its nearest Caribbean rival in the per capita 2012 gross national income (GNI) rankings.

The Bahamas, with a GNI per capita of $21,280, tops the Caribbean table, according to the World Bank's 2014 World Development Report report, which includes 2012 data on GNI per capita.

The northernmost Caribbean island chain is followed by Puerto Rico, which has a GNI per capita of around $18,000.

Trinidad and Tobago is next at $14,400, followed by St Kitts and Nevis, which, despite being the smallest country in the region, has a per capita GNI of about $13,300, according to the data.

By contrast, Bermuda comes in with a gross domestic product (GDP) per capita of $84,381 for 2012, according to statistics found in the Department of Statistics Facts & Figures 2013 booklet. While Bermuda's GDP is down, having seen levels of $89,613 in 2010, and $85,996 in 2011, it is still $63,101 more than the Bahamas, when comparing GNI figures with GDP numbers.

However, World Bank GNI figures put Bermuda at $106,920 per capita, five times the Bahamas numbers.

Reporting on the figures, the Caribbean Journal stated: “Of course, these numbers are not necessarily a reflection of development or a lack of poverty — a reason why a number of Caribbean countries have urged multilateral lenders to cease classifying many Caribbean countries middle-to-high income — which can prevent access to much international development funding”

Gross National Income adds net receipts of primary income from abroad to Gross Domestic Product numbers.

Front Street in the City of Hamilton (Photo by Glenn Tucker)

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Published October 17, 2013 at 9:00 am (Updated October 17, 2013 at 9:44 am)

Bermuda’s GNI leads way in Caribbean

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