Key Market Indicators
Bermudian electrical equipment exports are projected to decline to approximately $1 million by 2028, down from around $1.2 million in 2023. This represents an average annual decrease of 2.5%. Since 2017, the island's electrical equipment supply has been consistently falling, with an average yearly decline of 7.4%. On the import side, Bermudian electrical equipment imports are expected to increase slightly. By 2028, imports are forecasted to reach about $60.5 million, up from $59.2 million in 2023, reflecting an annual growth rate of 0.4%. Since 2015, the demand for electrical equipment in Bermuda has experienced a modest average yearly increase of 0.1%.
