The Bermuda Ministry of Finance reported that the economy grew by an estimated 0.5% in real terms in the first quarter of 2026, driven by higher household expenditure and construction activity. At current prices, gross domestic product increased by 2.3%, reflecting the additional effect of rising implicit prices. Consumer spending rose 2.6% year over year to BMD 827.7 million, while employment income increased by 6.3%, with the strongest gains in construction and public administration and defense. Construction investment climbed 8.1%, helping gross capital formation rise 0.6% to BMD 198.2 million, although investment in machinery and equipment fell 6.2%. Air arrivals increased to 29,426 and estimated visitor spending reached BMD 55.3 million, while government consumption declined 5.6% to BMD 190.3 million.
2026-09-14Ministry of Finance (Bermuda)
Bermuda Ministry of Finance reports 0.5% real GDP growth in the first quarter of 2026
Bermuda’s economy expanded by an estimated 0.5% in real terms in the first quarter of 2026, supported by household spending and construction. Consumer spending rose 2.6%, employment income increased 6.3% and construction investment grew 8.1%, while government consumption and machinery investment declined.