In a ministerial statement to the House, Bermuda’s Minister of Economy and Labour Jason Hayward reviewed the industries driving economic output and employment, highlighting differences between the two. Real gross domestic product (GDP) grew 1% in 2025, marking a fifth consecutive year of expansion, while filled jobs increased by 369, or 1.1%, to 33,820. Real GDP growth slowed from 1.7% in 2024, while nominal GDP rose 6.5% to approximately BMD 9.85 billion. The five largest industries by output generated 68.8% of GDP but supported 40.7% of employment. International business remained the largest contributor to both, accounting for 29% of GDP and 5,070 filled jobs, approximately 15% of total employment. Financial and insurance activities contributed 14.9% of GDP, although employment in the industry fell by 70 jobs to 1,895. Only international business and wholesale and retail trade ranked among both the five largest GDP contributors and the five largest employment sectors. Accommodation and food service activities, public administration, and human health and social work activities completed the leading employment group. Together, these five sectors supported 19,553 jobs, or 57.8% of employment, and added 331 jobs in 2025. The comparison illustrates how industries generating substantial output through specialised services and capital differ from those supporting larger workforces through labour-intensive activities.

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