Products Imported from China to Bermuda

In the calendar year of 2023, China exported goods worth US$85.3 million to Bermuda. Among the main exports from China to Bermuda were Railway Cargo Containers (US$61.6 million), Refined Petroleum (US$6.65 million), Buses (US$3.95 million), Additive manufacturing machines (US$1.84 million) and Fish – dried, salted, smoked or in brine(US$0.71 million). Over the span of 28 years, China’s exports to Bermuda have grown steadily at an annualized rate of 16.1%, rising from US$1.51 million in 1995 to US$85.3 million in 2023.

List of All Products That Were Imported from China to Bermuda

The table below presents a comprehensive list of all commodities that were exported from China to Bermuda in 2023, categorized by product types, and ranked by their trade values in US dollars.

Tips to use this table

1. Identifying High-Demand Products: Analyze the top-ranked products to identify which items have the highest trade values. These products are likely to be in high demand in the Bermuda market, presenting lucrative opportunities for importers and resellers.
2. Niche Market Exploration: Explore products with significant trade values that may not be commonly known. These niche products could represent untapped market segments with less competition, allowing resellers and importers to carve out a unique position in the market.

Last Updated: April, 2024

Note #1: The HS4 code, or Harmonized System 4-digit code, is part of the Harmonized Commodity Description and Coding System (HS). It’s an internationally standardized system for classifying goods in international trade.

Note #2: This table is regularly updated on an annual basis. Therefore, we encourage you to revisit frequently to access the latest information regarding trade between China and Bermuda.

Trade Agreements between China and Bermuda

China and Bermuda do not have direct bilateral trade agreements, largely due to Bermuda’s status as a British Overseas Territory. Bermuda’s foreign relations and trade policies are generally managed by the United Kingdom, which limits the scope for direct agreements with other nations, including China. However, economic interactions occur through various indirect channels:

1. Business and Finance – Bermuda is renowned as a global financial hub, particularly for insurance and reinsurance industries. Chinese businesses and state-owned enterprises often engage with Bermuda’s financial services sector for insurance, reinsurance, and incorporation services. These interactions are facilitated by Bermuda’s regulatory environment and are significant for mutual economic benefits, though they are not formalized through trade agreements.
2. Investment – While direct investment treaties are absent, Bermuda’s regulatory framework and tax neutrality make it an attractive destination for Chinese investment, particularly in the financial services sector. Chinese companies and investors frequently establish holdings in Bermuda to manage global assets and operations, benefiting from the territory’s legal and fiscal advantages.
3. Tourism and Cultural Exchange – Tourism and cultural exchanges between China and Bermuda occur, though on a relatively small scale compared to Bermuda’s interactions with other countries. These are not underpinned by formal agreements but are facilitated by general tourism promotion efforts and business interactions that encourage travel and cultural familiarity.
4. Indirect Effects of UK-China Relations – As part of the UK’s territories, Bermuda is indirectly affected by the UK’s trade policies and agreements with China. Any bilateral agreements or trade conflicts between the UK and China can have cascading effects on Bermuda, especially in areas like financial regulation, data protection, and legal matters related to international business.

In essence, the relationship between China and Bermuda in terms of trade and economic agreements is indirect, influenced by Bermuda’s status as a British Overseas Territory and its strategic importance in global finance, rather than traditional trade agreements. The economic exchanges that do exist are rooted in the globalized nature of financial services and investments.