The Government of Bermuda welcomes the latest construction activity figures for the first quarter of 2026, which indicate continued momentum in Bermuda’s construction sector. The GDP by Expenditure data for the first quarter of 2026 highlights growth and measurable performance in the construction sector.
The Minister of Economy and Labour, the Hon. Jason Hayward, JP, MP, stated, “I am pleased to report that investment in construction increased 8.1% year-over-year during the first quarter. Investment in construction is a fundamental engine of economic growth because it generates an immediate ripple effect across the entire economy.”
According to the Department of Statistics, the estimated value of new projects started during the first quarter reached $60.3 million. Additionally, the estimated value of construction work put in place during the first quarter of 2026 increased by approximately 9.4 per cent over the first quarter of 2025 to $45.6 million.
Private sector construction increased approximately 17.1 per cent to $20.8 million, while public sector construction increased approximately 3.3 per cent to $24.7 million. Public sector investment in construction reached its highest quarterly level since Q1 of 2013, when it was estimated at $29.2 million.
Minister Hayward continued, “These figures provide encouraging evidence that construction activity remains an important contributor to Bermuda’s economic performance. The increase in both work being undertaken and new projects getting started demonstrates continued confidence and investment in our economy.”
A breakdown of the construction activity indicates that industrial, plant and other projects accounted for $11.9 million, followed by residential construction at $11.4 million, offices, shops and warehouses at $9.2 million, hotels and guest houses at $7.2 million, roads, bridges and airports at $4.3 million, and schools, hospitals and community centres at $1.6 million.
The Ministry of Economy and Labour will continue to monitor developments within the construction sector as part of its broader efforts to support sustainable economic growth, expand opportunities for Bermudians and strengthen the resilience of Bermuda’s economy.
