Key Market Indicators
Bermudian lighting exports experienced a significant decline in 2023, dropping to approximately $682,000. This marked a 17.6% decrease from the $828,000 recorded in 2022. Over the longer term, the downward trend is even more pronounced, with the country's lighting supply falling by 18.7% annually since 2017. On the import side, projections indicate that Bermudian lighting imports will reach about $1.48 million by 2028, down from $1.56 million in 2023. This represents an average annual decrease of 0.8%. Since 2015, the demand for lighting imports in Bermuda has been on a declining trajectory, falling by an average of 1.3% each year.
