The value of Australia’s marine estate and the blue economy
By 2025, Australia’s blue economy is projected to be worth $100 billion per annum. It has already contributed $69.2 billion to the national economy in 2018. This represented 3.7 per cent of national gross domestic product (GDP).
Globally, ocean economic activity is estimated to be worth US$3–5 trillion.
Australian blue economy industries include marine tourism, energy and food production, and transport. It also includes emerging industries such as marine renewable energy, offshore aquaculture, autonomous technologies, new sensor development and machine-learning applications.
The blue economy includes marine industries, such as wave energy, oil and gas, aquaculture, shipping, fishing and tourism, as well as cultural and recreational use of Australia's oceans and coasts. (Credits: Waveswell, Shutterstock, Ludo Kuipers)
The ocean’s ecosystem services, such as climate regulation, carbon dioxide absorption and coastal protection, are estimated to be worth billions more. Meanwhile, the environmental and cultural value of our oceans and coasts is priceless.
Australia is responsible for a marine estate that covers an area greater than its land mass. This is home to some of the world’s most biodiverse and iconic ecosystems.
For a coastal-hugging nation, our oceans and coasts are an integral part of our cultural psyche, play and wellbeing. And they are the cultural lifeblood of Traditional Owners, who have sustainably used and protected their Sea Country over millennia.
To learn more, listen to our recent spotlight on the value of marine industries and science to the Australian economy.
NMSC Chair and Deputy
Chair: Dr Patrick Hone, Managing Director, Fisheries Research and Development Corporation
Deputy Chair: Kim Picard, Chair of the AusSeabed Steering Committee, Geoscience Australia
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