The Satellite Account Approach for Measuring the US Marine Economy

Haijing (Jennifer) Zhuang, Jeffery Adkins, Michael D. Smith, Monica Grasso, Christopher Lauer, Kate Quigley, Lauren Knapp, Charles Colgan and William Nicolls

Marine Resource Economics, 2024, vol. 39, issue 2, 101 - 122

Abstract: The first official Marine Economy Satellite Account (MESA) of the United States was created to improve the credibility and reliability of comprehensive measurements of the nation’s dependence on ocean and coastal resources. This methodology improves upon previous methods and yields results that (1) are consistent with national accounts statistics, such as gross domestic product, (2) capture additional categories of marine-related activities, and (3) bring measurement of the US marine economy into alignment with the most advanced international practices. These advances support recent sustainable growth initiatives of the US blue economy, allow policy makers to better evaluate industries perhaps most vulnerable and at risk from coastal hazards, and enable government and private businesses to promote and invest in this crucial driver of the US national economy.

Date: 2024
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