U.S. Marine Economy Continues Upward Trend

By noaa.gov.

$476 billion contribution helps build a ‘greater, more Climate-Ready Nation’.

The American marine economy continued to bolster the nation in 2022 as demonstrated by increased sales and jobs, according to the most recent statistics from the annual Marine Economy Satellite Account (MESA) released by two Department of Commerce agencies — NOAA and the Bureau of Economic Analysis (BEA).

The marine economy contributed a total of $476 billion in economic impact in 2022, making up nearly 2% of the nation’s gross domestic product (GDP). It generated $777 billion in sales, and supported 2.4 million jobs in 2022. MESA provides valuable insights on how the marine sector contributes to the nation’s economy.

“A strong, sustainable marine economy helps build a greater, more Climate-Ready Nation,” U.S. Secretary of Commerce Gina Raimondo said. “The Biden-Harris Administration and the Department of Commerce are committed to enhancing the marine economy, and helping communities and ecosystems grow and thrive.”

“These figures show how essential the Blue Economy is to American prosperity,” said NOAA Administrator Rick Spinrad, Ph.D. “The ocean and the Great Lakes are integral to the overall health of America’s economy, and they impact our lives in numerous ways.”

The largest contributors to GDP are tourism and recreation, with $163 billion; national defense and public administration, with $149 billion; and offshore minerals, with $62 billion.

The sales sectors that showed the most growth for 2022 include:

  • Ship and boat building, up 14.6%;
  • Coastal tourism and recreation, up 8.1%; and
  • Marine transportation and warehousing, up 7%.

For the first time, MESA includes information on wind energy and alternative power generation, allowing for a greater understanding of the offshore wind industry’s importance to the nation’s economy. Wind farm construction totaled $161 million in sales, and alternative power generation totaled $10 million in sales.

read more at noaa.gov.