June 8, 2021 — America’s maritime economy is firmly in the black, according to the first-ever ““blue economy” report from the U.S. Department of Commerce.
According to the report, released Tuesday, 8 June, the marine economy generated USD 397 billion (EUR 326 billion) to the United States’ gross domestic product in 2019. That sector grew at a 4.2 percent clip from 2018, nearly double the growth of the country’s entire GDP over the same timeframe.
June 2, 2020 — A new joint report put together by NOAA and the U.S. Commerce Department’s Bureau of Economic Analysis (BEA) has found that the country’s marine economy contributed USD 373 billion (EUR 334 billion) to the nation’s gross domestic product (GDP) in 2018.
The new report covers a wide range of the ocean economy, from “living resources” in the seafood industry to transportation and warehousing, offshore mining, scientific research, and more. All told, from 2017 to 2018, the marine economy – including economic activity sourced to the nation’s oceans, coasts, and the Great Lakes – grew by 5.8 percent, faster than the 5.4 percent growth of the total U.S. GDP.
June 2, 2020 — The following was released by NOAA:
America’s marine economy, including goods and services, contributed about $373 billion to the nation’s gross domestic product in 2018 and grew faster than the nation’s economy as a whole, according to the marine economy statistics released today by two Department of Commerce agencies.
“These statistics are the first-of-its-kind estimate of the U.S. marine economy, a primary driver of jobs, innovation and economic growth,” said retired Navy Rear Admiral Tim Gallaudet, Ph.D., assistant secretary of commerce for oceans and atmosphere and deputy NOAA administrator. “Data such as these provide a critical baseline to inform, track progress and accelerate America’s economic recovery.”
For these statistics, experts from NOAA and the Bureau of Economic Analysis considered 10 sectors representing businesses dependent on the nation’s oceans, coasts and Great Lakes between the years 2014 and 2018. Marine-related gross domestic product grew 5.8% from 2017 to 2018, faster than the 5.4% growth of the total U.S. gross domestic product as measured in current dollars. Businesses included in the report also supported 2.3 million jobs in 2018.
“The marine economy statistics clarify just how dependent America is on our waters,” said Nicole LeBoeuf, acting director of NOAA’s National Ocean Service. “It is nearly impossible for most Americans to go a single day without eating, wearing or using products that come from or through our coastal communities.”
“For the first time, the United States has ocean data that can be compared with our official statistics on other U.S. industries and with the ocean economies of other nations,” said Mary Bohman, BEA’s acting director. “These prototype statistics offer a baseline for understanding the importance of the ocean economy, including recreation, seafood, transportation and ship building. Businesses, policymakers, and coastal communities can use these economic data as a compass as they chart the way forward.”
The sectors making the largest contributions to the nation’s gross domestic product, not adjusted for inflation, are:
These prototype statistics are the most comprehensive and accurate produced to date, thanks to the addition of newer, more inclusive data sets. The economic statistics validate previous estimates of the value of the marine economy. The data, report and other materials are available at https://www.bea.gov/data/special-topics/ocean-economy Send any comments or questions to OceanEconomy@noaa.gov.