The Marine Economy Satellite Account statistics released today by the U.S. Bureau of Economic Analysis show the marine economy accounted for 1.9 percent, or $432.4 billion, of current-dollar U.S. gross domestic product in 2021, an increase from 1.7 percent, or $363.2 billion, in 2020. The marine economy accounted for 1.8 percent, or $730.0 billion, of current-dollar gross output.
Real (inflation-adjusted) GDP for the marine economy increased 7.4 percent from 2020 to 2021, compared with a 5.9 percent increase for the overall U.S. economy. This reflected a rebound after the marine economy’s 6.0 percent decrease in 2020, the first year of the COVID–19 pandemic. Marine economy compensation increased 9.2 percent, or $16.0 billion, and employment increased 10.5 percent, or about 221,000 full- and part-time employees.
Marine economy by activity
MESA real gross output—principally a measure of the marine economy's inflation-adjusted sales or receipts, which includes sales to final users in the economy and sales to other industries (intermediate inputs)—increased 10.5 percent, or $63.9 billion, in 2021. Marine economy activity highlights for 2021 include the following:
- Tourism and recreation, coastal and offshore increased 27.3, or $49.8 billion, to a level of $231.8 billion, making it the largest contributor to the growth in 2021 MESA real gross output.
- Transportation and warehousing, marine increased 16.8 percent, or $8.2 billion, to $57.1 billion, making it the second-largest contributor to the overall growth.
- Living resources, marine increased 13.5 percent, or $3.7 billion, to $31.0 billion.
- Minerals, offshore decreased 2.5 percent, or $2.5 billion, to $96.6 billion, making it the largest offset to the overall growth in 2021 MESA real gross output.
Marine economy by industry
The industry statistics show the contributions of industries to the marine economy, including their impact on value added (or GDP by industry), gross output, employment, and compensation.
Marine economy industry highlights for 2021 include the following:
- Government—as a share of marine economy current-dollar value added—was the largest industry group and accounted for 34.9 percent, or $150.8 billion, and was the largest industry group for compensation ($92.2 billion) and for employment (about 717,000 full- and part-time jobs).
- Finance, insurance, real estate, rental, and leasing was the second-largest industry group as a share of the marine economy and accounted for 13.7 percent, or $59.1 billion, of current-dollar value added.
- Transportation and warehousing accounted for 8.6 percent, or $37.2 billion, of marine economy value added, with the second-largest level of compensation ($23.6 billion).
- Accommodation and food services accounted for 6.6 percent, or $28.6 billion, of value added and was the second-largest industry group for employment (about 394,000 full- and part-time jobs) in 2021.
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