MONDAY, OCTOBER 29: Bermuda’s Information and Communication Technologies (ICT) sector declined 5.7 per cent in 2011.
This according to a report released today by the Department of Statistics.
The number of ICT jobs has steadily declined since 2008. There where 1,008 ICT jobs in 2008, 979 in 2009, 948 in 2010, and 915 in 2011. Last year’s decline was 3.6 per cent.
The ICT sector contributed 4.3 per cent to Bermuda’s GDP, or $239 million.
Within the ICT sector, the ICT services sub-industry recorded the largest decline with a $13 million fall in value added.
Businesses offering telephone and Internet connections saw spikes in their operational costs that drove down their economic contribution.
In 2011, Bermuda recorded a trade deficit on OCT goods and services. A total of 127.9 million was spent overseas, down 12 per cent over the previous year. Exports of information and communication technology services totalled $79.9 million, down 3.3 per cent from 2010.
Slightly more than half (51 per cent) of Bermuda’s businesses have a web presence, however most did not use the Internet for e-commerce.
Although the number of companies trading goods via the Internet increased in 2011, only 28 per cent of these companies used the Internet to place orders for goods and services and an even smaller portion, seven per cent, received orders via the Internet.