BEA, in partnership with the National Oceanic and Atmospheric Administration (NOAA), is measuring the economic force of the nation’s oceans. This project seeks to calculate the contribution to gross domestic product from commercial fishing, shipbuilding, seaports, beachfront hotels, and other economic activity dependent on the oceans. For these statistics, the “ocean economy” also includes marine activity in the Great Lakes, the Chesapeake Bay, and Puget Sound, as well as international seaports such those in Portland, Ore., and Baton Rouge, La., located miles from the coast. Statistics that capture ocean economic activity in new detail will help businesses make investment and hiring decisions and aid U.S., state, and local policymakers.
- Can the Ocean Economy statistics show how much the ocean economy contributed to the economy as a percent of GDP?
- What is gross output by industry and how does it differ from gross domestic product (or value added) by industry?
- How is the ocean economy captured in the core statistics currently produced by the Bureau of Economic Analysis (BEA)?
What is the Ocean Economy?
Measures ocean-dependent activities’ contributions to the U.S. economy, using methodology consistent with BEA’s core statistics, such as gross domestic product.