‘Blue’ economy outpaced national growth in 2019 | Local Business
Jun. 16— The nation’s maritime economy accounted for nearly $400 billion worth of gross domestic product in 2019 and its growth outpaced that of the strong, pre-pandemic U.S. economy overall, according to federal data published June 8.
Dubbed the “blue economy” by marketing types, the varied water-centric industries from trans-oceanic shipping to mariculture, cruising, shipbuilding, oil and gas development, commercial fishing to beachcombing combined to provide approximately 1.9 percent of the U.S. GDP in 2019.
The $397 billion of economic output from the blue economy two years ago — which includes the Great Lakes — represented 4.2% growth versus 2018, when the sector generated $372 billion, or 1.8% of total…