Information and Communication

Technology Profile
September 2018 For the year ended 2017

Composition of the Information and Figure 1

ICT Sector Gross Domestic Product
Communication Technology Sector
260

 The Information and Communication

$ Millions
240
Technology (ICT) sector comprises a 229 227 228
222
combination of manufacturing and services
220
industries that enable or fulfil the function of 213

information processing and communication,

200
0
including transmission and display by electronic 2013 2014 2015 2016 2017
means. These industries are involved in the
development, delivery and support of advanced
technological products.
Figure 2
ICT Capital Investment
 This profile for the year 2017 was generated
using data from a sample of 1,500 businesses 150

$ Millions
119
with a response rate of 88.2 per cent. The results 125
show the core indicators on the use of ICT by 100 88
95
81
businesses. Comparisons are between 2016 and 73
75
2017.
00
50
2013 2014 2015 2016 2017
ICT Sector Gross Domestic Product and Capital
Investment

 The ICT sector contributed 3.6 per cent or $228 Figure 3

million to the Gross Domestic Product in current IT Professionals
500
464
prices in 2017 (Figure 1). 456
450 422
406
# of Jobs

 In 2017, the capital investment in ICT increased 400

396

by 17.3 per cent to $95 million (Figure 2) due

primarily to increased purchases of computer 350

software and information technology (IT) 00

300
equipment. 2013 2014 2015 2016 2017

IT Professionals and ICT-Related Employment

Figure 4
ICT-Related Employment
 Between 2016 and 2017, employment of IT 1,200
professionals increased by 1.8 per cent or 8 jobs
(Figure 3). 927 923
# of Jobs

1,000 895
885 884

 ICT-related employment decreased by 3.0 per 800

cent or 28 jobs (Figure 4).
600
0
 ICT-related employment accounted for 2.1 per 2013 2014 2015 2016 2017

cent of total filled jobs in 2017, remaining

unchanged from 2016.
Department of Statistics Page |1
 Information and Communication Technology (ICT) Profile 2017

Business Use of ICT Figure 5

Business Use of ICT
 In 2017, 93.5 per cent of businesses surveyed
Using the internet 93.7%
reported the use of computers for business
operations, increasing 4.8 percentage points from Tablets 31.8%

the year 2016 (Figure 5). Smartphones 69.7%

Using wi-fi enabled devices 75.7%

 Approximately 76 out of every 100 (75.7 per Using computers 93.5%

cent) businesses indicated the use of wi-fi
0.0% 50.0% 100.0%
enabled devices in daily operations, with
smartphones at 69.7 per cent being the most
generally used device (Figure 5). Figure 6
Business Use of ICT

 The number of businesses that received orders Place orders via the internet 7.6%
Receive orders via the
via the internet increased by 1.7 percentage internet
37.1%

points to 37.1 per cent. Businesses that placed Have an extranet 18.9%
orders via the internet increased by 0.6 Have a local area network 35.6%
percentage points to 7.6 per cent (Figure 6). Have an intranet 30.0%

Have an internal network 54.9%

 More than half (54.9 per cent) of businesses used 0.0% 20.0% 40.0% 60.0%
an internal network during 2017, up from 53.2
per cent in 2016. The most commonly used
network was a local area network at 35.6 per Figure 7
Business Use of Internet by Activity
cent while 30.0 per cent of businesses used a
private internal network (intranet) (Figure 6). Cloud services 48.6%

Internet banking 88.4%

Business Use of Internet by Activity Interacting with government 75.3%

Getting information
79.5%
(government)
 The leading uses of the internet by businesses Getting information (goods or
84.0%
services)
were sending or receiving e-mails (92.6 per
Sending or receiving email 92.6%
cent), internet banking (88.4 per cent), and
0.0% 50.0% 100.0%
getting information about goods and services
(84.0 per cent) (Figure 7).
Figure 8
 Cloud services were used by 48.6 per cent of Business Use of the Internet by Activity

businesses, increasing 7.1 percentage points Staff training 38.1%

from the year 2016 (Figure 7). Recruitment 35.6%

Delivering products 20.0%

 The number of businesses that used the internet
Customer service 48.9%
to deliver products online remained the same at
Other financial services 35.8%
20.0 per cent. Business use of telephoning via
the internet grew 1.9 percentage points to 45.3 Telephoning via internet 45.3%

per cent (Figure 8). 0.0% 30.0% 60.0%

Department of Statistics Page |2

 Information and Communication Technology (ICT) Profile 2017

Trade in ICT Goods and Services Figure 9

ICT Trade Balance
 Bermuda’s ICT trade deficit widened by 19.5 per 0.0
cent or $12.8 million in 2017 (Figure 9).
-20.0
-31.7

$ Millions
 The wider deficit reflected a 7.7 per cent increase -40.0
in the imports of ICT goods and services as well -58.1 -53.9
-65.7
as a 3.4 per cent loss in receipts from exports of -60.0
-78.5
ICT goods and services.
-80.0
2013 2014 2015 2016 2017
 The value of imported ICT goods increased by
$12.9 million in 2017, due mostly to higher
imports of computers and related equipment and Figure 10
ICT Services Imports
miscellaneous ICT goods. Information
Computer services
 Imports of ICT services comprised computer services 4.3%
70.3%
services (70.3 per cent), telecommunications
Tele-
services (25.4 per cent) and information services communication
(4.3 per cent) (Figure 10). services
25.4%

Outsourcing of ICT by Businesses

 The majority of businesses surveyed (51.1 per

cent) did not outsource their ICT needs in Figure 11
2017. Over a third of businesses (36.6 per cent) Business Outsourcing ICT
outsourced their ICT needs to local businesses Local
only, while 5.5 per cent outsourced to overseas Outsourcing
36.6%
businesses. In addition, 6.8 per cent of
businesses outsourced their ICT needs to a Overseas
Outsourcing
combination of local and overseas businesses No
5.5%
Outsourcing
(Figure 11). 51.1% Local and
Overseas
 Businesses that used overseas ICT outsourcing Outsourcing
6.8%
primarily used businesses based in the United
States of America.
Figure 12
Gross Median Annual Income
Gross Median Annual Income for ICT-Related $120,000
Jobs $90,000
$60,000
 The gross median annual income for ICT- $30,000
related jobs decreased by 7.4 per cent to $0
$82,180 in 2017. This ranked above the Electrical and Computer Physical and Software and Database and
Electronic Professionals Engineering Application Network
economy-wide gross median annual income of Engineers Science Developers Prrofessionals
$64,250. Technicians and Analysts
2016 2017

 Gross median annual earnings of software and

application developers and analysts grew 3.4
per cent from 2016 (Figure 12).

Department of Statistics Page |3

Information and Communication Technology (ICT) Profile 2017

Published by the Government of Bermuda

September 2018
Department of Statistics
Cedar Park Centre,
48 Cedar Avenue, Hamilton HM 11, Bermuda
P.O. Box HM 3015
Hamilton HM MX, Bermuda
Tel: (441) 297-7761, Fax: (441) 295-8390
E-mail: statistics@gov.bm
Website: www.gov.bm/department/statistics
Note to Readers: Some data reported in this ICT profile may be
different from data reported in previous publications as they
include the latest revisions made by the Department of Statistics
to data published previously.

Department of Statistics Page |4