The numbers for 2019 have finally been tabulated and show the US marine (Blue) economy has performed well. In fact, it grew by a bigger margin than the rest of the US economy.
According to the US National Oceanic and Atmospheric Administration, the data shows that in terms of US gross domestic product measured in inflation-adjusted dollars, the marine economy grew by 4.2% between 2018 and 2019. This solid performance outstrips the rest of the US economy, which grew by 2.4%.
In 2019, the Blue Economy supported 2.4 million jobs and generated an impressive $665.7 billion (~558 billion Euros) in sales.
The top five sectors of the Blue Economy where:
- Tourism and recreation, including recreational fishing which were worth $235 billion.
- National defense and public administration were worth $180 billion.
- Offshore minerals were worth $93 billion.
- Transportation and warehousing, which was worth $64 billion.
- Commercial Ship and boat building which was worth $31 billion.
Commenting on the figures, Gina Raimondo, the US Secretary of Commerce, stated:
“America’s strong marine economy is absolutely vital for building back better. President Biden sees the immense value and potential of strengthening America’s blue economy, and this administration will continue to take actions to combat the climate crisis, conserve our oceans, and protect our coastal communities.”
