The U.S. Bureau of Economic Analysis released new statistics showing the marine economy accounted for $511.0 billion, or 1.8% of U.S. GDP in 2023, up from $482.4 billion in 2022.
Why it matters. Economic data on the marine sector provides insights into the health and growth of this important industry, affecting businesses and policymakers.
The Marine Economy Satellite Account statistics released today by the U.S. Bureau of Economic Analysis show the marine economy accounted for $511.
The Marine Economy Satellite Account statistics released today by the U.S. Bureau of Economic Analysis show the marine economy accounted for $511.0 billion, or 1.8 percent, of current-dollar U.S. gross domestic product in 2023, an increase from $482.4 billion in 2022 (tables 2 and 3).
Real (inflation-adjusted) gross domestic product (GDP) for the marine economy increased 2.9 percent from 2022 to 2023 (table 1), compared with a 2.9 percent increase for the overall U.S. economy. Marine economy compensation increased 9.4 percent, or $19.1 billion, and employment increased 4.5 percent, or 111,000 full- and part-time employees.
