Commerce Secretary Gina Raimondo attends a trilateral meeting with President Joe Biden, Ferdinand Marcos Jr., the Philippines’ president, and Fumio Kishida, Japan’s prime minister on April 11. She praised a new study on the United States’ marine economy on Thursday. File Photo by Al Drago/UPI
June 6 (UPI) — The marine economy in the United States contributed $476 billion of economic effect in 2022, making up 2% of the country’s gross domestic product while recording increases in key sectors, according to new statistics from the Commerce Department.
The report, compiled by the National Oceanic Atmospheric Administration and the Bureau of Economic Analysis, said the marine economy generated $777 billion in sales and supported 2.4 million jobs in 2022. The figures are part of the annual Marine Economy Satellite Account.
Advertising
“These figures show how essential the Blue economy is to American prosperity,” NOAA Administrator Rick Spinrad said in a statement. “The ocean and the Great Lakes are integral to the overall health of America’s economy, and they impact our lives in numerous ways.”
Coastal tourism and recreation increased 8.1% in 2022, contributing $163 billion to lead the marine economy. National defense and public administration added $149 billion while offshore minerals contributed 62%.
The ship and boat building sector increased 14.6% in 2022 while marine transportation and warehousing jumped 7%.
“A strong, sustainable marine economy helps build a greater, more climate-ready nation,” said Commerce Secretary Gina Raimondo. “The Biden-Harris administration and the Department of Commerce are committed to enhancing the marine economy, and helping communities and ecosystems grow and thrive.”
NOAA’s Assistant Administrator Nicole LeBoeuf said the report underscores the critical need to bolster and support the marine sector.
“Our nation’s marine economy influences many aspects of our economic landscape and our daily lives affecting regions far beyond our coasts,” she said.
The Biden administration on Wednesday designated 1,722 square miles of Lake Ontario as a marine sanctuary. Officials said the sanctuary, which sits along the coast of upstate New York, will celebrate the region’s maritime heritage and tourism traditions among the local community and the broader Great Lakes region.
