Economic Activity Relevant to the Ocean

1. Outcome

This Circular provides guidance on compiling accounts for economic activity relevant to the ocean--the "ocean economy"--within the Ocean Accounts framework. Upon completing this Circular, readers will understand how to define and measure the ocean economy using thematic and extended accounting principles, identify ocean-related industries using the International Standard Industrial Classification (ISIC), compile supply and use tables for ocean economy sectors, and measure key aggregates including gross value added (GVA), employment, and the contribution of ocean activities to Gross Domestic Product (GDP). The guidance enables compilation of accounts that are consistent with the System of National Accounts 2025 (SNA 2025) and that integrate with the broader Ocean Accounts framework described in TG-0.1 General Introduction and the statistical standards outlined in TG-0.2 Standards Overview. This Circular supports the derivation of indicators for macro-level economic dependencies on the ocean (TG-2.2 Macro-level Dependencies), ocean economy structure (TG-2.5 Ocean Economy Structure), investment analysis (TG-2.6 Ocean Investment), and resource efficiency (TG-2.11 Resource Efficiency).

2. Requirements

This Circular requires familiarity with:

• TG-0.1 General Introduction to Ocean Accounts -- for the conceptual framework and key components of Ocean Accounts
• TG-0.2 Standards Overview -- for the international statistical standards underpinning ocean accounting, including SNA 2025, SEEA, and classification systems

3. Guidance Material

3.1 Policy Context and Use Cases

Governments compile ocean economy accounts to answer specific questions from budget officials, economic planners, and marine resource managers. These questions drive data needs and shape compilation priorities. Understanding the decision context clarifies why ocean economy measurement matters and which analytical approaches best serve policy needs.

Budget justification and expenditure allocation

National budget processes require quantified evidence of a sector's contribution to national income and employment to justify public expenditure on ocean management, fisheries governance, port infrastructure, and marine environmental protection. Budget officials preparing medium-term expenditure frameworks ask questions such as: What share of GDP does the ocean economy represent? How many jobs depend on ocean activities? What is the fiscal revenue contribution from ocean industries? What is the return on public investment in port infrastructure or marine protected area enforcement?

Ocean economy accounts provide the evidence base for these questions. The thematic and extended accounts framework described in this Circular enables compilers to derive ocean economy GVA (the direct contribution to GDP), ocean employment aggregates, ocean economy exports, and ocean economy investment--the four core indicators required for budget presentation structures described in TG-1.1 OA and National Budget Processes. The supply and use tables compiled under Section 3.5 below provide the analytical foundation for answering budget questions about sectoral composition, inter-industry linkages, and government expenditure on ocean-related functions.

Structural indicators and economic planning

Structural indicators derived from ocean economy accounts inform medium-term economic planning, workforce development strategies, trade policy, and investment promotion. Governments preparing national development plans require data on the relative importance of different ocean industries (fishing, offshore energy, shipping, tourism), labour productivity by ocean sector, capital intensity patterns, and trends in ocean economy structure over time. The indicator derivation methods described in TG-2.5 Ocean Economy Structure draw directly on the ocean economy supply and use tables compiled under this Circular, translating accounting data into policy-ready metrics.

The ocean economy accounts framework also supports analysis of economic dependencies on marine resources. For Small Island Developing States (SIDS) and coastal low-income countries, where fisheries may account for 15--25 per cent of GDP and 30--50 per cent of export earnings, the accounts provide essential data for assessing national economic vulnerability to overfishing, climate impacts on fish stocks, and shifts in global seafood markets^[1]. This analytical application is addressed in TG-2.2 Macro-level Dependencies.

Investment analysis and sustainable finance

Ocean economy accounts support investment analysis by providing data on gross fixed capital formation by ocean industry, capital productivity, and the relationship between capital accumulation and output growth. These data are essential for financial institutions designing blue bonds, governments preparing public-private partnership frameworks for port development, and development finance institutions allocating concessional finance to sustainable ocean sectors. The measurement of conventional GFCF in ocean industries and the emerging area of sustainable ocean finance tracking are addressed in TG-2.6 Ocean Investment. The ocean economy supply and use tables compiled under this Circular provide the production-side data required for that investment analysis.

Economic accounting for the ocean encompasses the measurement of all economic activities that are relevant to the ocean, from fishing and shipping to coastal tourism and offshore energy. This Circular provides the methodological framework for identifying, classifying, and measuring these activities within a coherent accounting structure. The guidance draws on thematic and extended accounting principles established in the System of National Accounts^[2], the ocean accounts framework described in SEEA Ecosystem Accounting^[3], practical experience from countries that have implemented ocean economy measurement programmes, and the analogous framework developed for tourism in the Statistical Framework for Measuring the Sustainability of Tourism^[4].

The terminology used to describe this domain varies across countries and institutions. "Ocean economy," "marine economy," and "blue economy" are all in wide use, sometimes interchangeably and sometimes with distinct connotations. "Blue economy," in particular, often carries normative implications of sustainability and equity that go beyond measurement. While conceptual differences exist among these terms, the accounting framework described in this Circular can accommodate different definitional choices, provided that the scope and boundaries adopted are clearly documented. Compilers should specify the terminology and scope used in their compilations to support transparency and comparability.

3.2 Defining the Ocean Economy

The ocean economy (also referred to as the "marine economy" or "blue economy") comprises the economic activities that derive outputs from the ocean, use the ocean as an input to production, or provide goods and services directly to ocean-related activities^[5]. This definition encompasses a spectrum from activities entirely dependent on the ocean (such as marine fishing) to activities that are partially ocean-related (such as coastal tourism, where visitors may engage in both marine and non-marine activities).

Conceptual boundaries

Defining the ocean economy requires establishing clear boundaries around which activities are included and which are excluded. Following the ocean accounts framework in SEEA EA, the ocean economy can be understood in terms of three relationships between economic activities and the ocean^[6]:

1. Ocean-dependent activities -- activities that directly extract resources from, operate on, or harvest products from the ocean. These include marine fishing, aquaculture, offshore oil and gas extraction, sea and coastal water transport, and offshore renewable energy generation. These activities are intrinsically linked to the ocean and would not exist in its absence.

2. Ocean-related activities -- activities that provide goods and services to ocean-dependent activities, or that process products originating from the ocean. These include shipbuilding and repair, fish processing, port and harbour operations, marine scientific research, and maritime education. The ocean is essential to these activities, though they do not operate directly on or in the ocean.

3. Partially ocean-related activities -- activities where the ocean is one among several inputs or outputs. Coastal tourism is the primary example: visitors may stay in coastal accommodation and engage in marine recreation, but they also consume goods and services unrelated to the ocean. For these activities, the ocean economy accounts should estimate the share attributable to the ocean.

This three-tier categorisation aligns with approaches used by the OECD and various national ocean economy measurement programmes but is not a formally standardised classification. Countries may adapt these boundaries based on national circumstances and policy priorities, and should document the choices made to ensure transparency and comparability.

Scope of the ocean economy

There is no single agreed definition of the ocean economy. Different institutions approach its scope differently, reflecting varying analytical purposes and national circumstances. Conceptual frameworks for delineating the ocean economy typically include some or all of the following categories^[7]:

1. Economic activity physically located on the ocean (e.g., shipping, marine fishing, offshore energy extraction)
2. Economic activity physically proximate to the ocean (e.g., coastal tourism, coastal aquaculture, port operations)
3. Economic sectors on land that depend on natural inputs from the ocean (e.g., fish processing, construction materials derived from marine aggregates)
4. Economic activity providing goods or services to ocean-based sectors (e.g., shipbuilding, marine engineering, maritime insurance)
5. Market value of natural inputs derivable from SEEA CF monetary flow accounts, and market and non-market ecosystem service values derivable from SEEA EA supply accounts
6. Indirect and intermediate expenditures on goods and services used by direct ocean activities (backward linkages through supply chains)
7. Induced and final demand expenditures enabled by direct and indirect ocean activities (household spending from ocean economy wages and profits)

This seven-part framework synthesises approaches from multiple sources, including the OECD (2016), various national ocean economy programmes, and the broader environmental-economic accounting literature. It should be understood as a complementary applied categorisation, not a classification prescribed by the SEEA or SNA.

The first four categories correspond broadly to the direct economic activities that form the core of most national ocean economy measurement programmes, while categories five through seven extend the measurement boundary to capture ecosystem contributions, supply chain linkages, and macroeconomic multiplier effects respectively. The specific categories included in any particular compilation will depend on data availability, analytical objectives, and the accounting frameworks employed. The relationship between ecosystem service values (category five) and economic activity is addressed further in TG-2.4 Ecosystem Goods and Services and TG-3.2 Flows from the Environment to the Economy.

The 2025 SNA supports the compilation of thematic and extended accounts (formerly known as satellite accounts) for the ocean economy. Chapter 38 of the SNA 2025 describes thematic and extended accounts as "flexible tools for increasing the visibility of key phenomena by bringing all the pertinent data together in one place" (para 38.2)^[8]. The SNA distinguishes thematic accounts--which disaggregate and rearrange items within the integrated framework of the SNA--from extended accounts, which expand or modify the boundaries applied in the integrated framework to give a more comprehensive view of a phenomenon (para 38.6). Ocean economy measurement typically involves both: thematic accounts that provide detailed breakdowns of ocean-related industries within the existing national accounts framework, and extended accounts that incorporate ecosystem service values or other elements beyond the standard SNA production boundary. The SNA 2025 explicitly identifies oceans as an area where the core ecosystem accounting framework can be applied using thematic and extended accounting principles (para 35.63), and SEEA Ecosystem Accounting describes thematic accounting for oceans as a specific application (para A1.135)^[9].

Spatial considerations

The spatial dimension of the ocean economy intersects with the concept of Economic Exclusive Zones (EEZs) established under the United Nations Convention on the Law of the Sea (UNCLOS)^[10]. A country's ocean economy includes:

• Activities occurring within its territorial waters and EEZ
• Activities by resident enterprises operating in international waters (such as distant-water fishing fleets), recorded as production of resident units
• Coastal and land-based activities that serve ocean-related purposes (such as ports and fish processing plants)

Activities by non-resident units operating within a country's EEZ under licence or quota arrangements require careful treatment. The SNA 2025 addresses this specifically: when non-resident units make use of quota established for fishing in a country's EEZ, the coastal state is treated as owning the fish stocks, with the licence fees representing rent payments from the non-resident fishing enterprise to the coastal state^[11].

For areas beyond national jurisdiction (ABNJ), the entry into force of the BBNJ Agreement on 17 January 2026 may provide new frameworks for statistical treatment as governance arrangements develop^[12]. Compilers should monitor developments in this area. Data considerations for ABNJ are addressed in TG-6.6 Deep-Sea and ABNJ.

Relationship to ecosystem services

The ocean economy as defined here relates to, but is distinct from, ecosystem services from marine ecosystems. Ecosystem services represent the contributions of ecosystems to economic activity and human well-being^[13]. The ocean economy, in contrast, represents the economic activities themselves. Fish harvested from the ocean represents an ecosystem service (biomass provisioning); the fishing industry that conducts the harvest is part of the ocean economy. The link between these concepts is addressed in TG-2.4 Ecosystem Goods and Services and TG-3.2 Flows from the Environment to the Economy.

3.3 Ocean Economy Thematic and Extended Accounts

The most rigorous approach to measuring the ocean economy employs thematic and extended accounting principles from the System of National Accounts. The SNA 2025 describes these as accounts that provide complementary data allowing insight into a key activity or aspect of the economy that lacks visibility in the integrated framework of national accounts (formerly known as "satellite accounts")^[14]. The Tourism Satellite Account (TSA)^[15] provides a well-established model that has been adapted for ocean economy measurement in several countries.

The analogy between ocean economy measurement and tourism measurement is particularly apt. Both frameworks address the challenge of identifying and measuring economic activity defined by its relationship to a particular domain (the ocean or tourism) rather than by industry classification alone. Tourism measurement involves delineating a functional segment of the economy that cuts across multiple ISIC industries--tourists consume accommodation services, food services, transport services, and recreation services, none of which is exclusively a tourism industry. Similarly, the ocean economy encompasses marine fishing, offshore energy, maritime transport, shipbuilding, port operations, coastal tourism, and marine research--activities distributed across multiple ISIC divisions. The concept of "tourism characteristic products" and "tourism characteristic activities" from the SF-MST (paras 2.33--2.35)^[16] translates directly to the ocean economy context as "ocean-characteristic products" and "ocean-characteristic activities."

Principles of thematic and extended accounting

Thematic and extended accounts for the ocean economy follow four key principles derived from the SNA^[17]:

1. Conceptual consistency -- the thematic account uses the same concepts and definitions as the SNA (output, intermediate consumption, value added, employment), ensuring that ocean economy measures are consistent with and comparable to broader economic statistics.

2. Flexible boundaries -- while maintaining conceptual consistency, the extended account can expand boundaries to include activities or products that merit special focus for analytical purposes, such as non-market ecosystem services or unpaid household production in coastal communities.

3. Characteristic products and activities -- following the TSA approach, ocean economy accounts identify "ocean-characteristic products" (goods and services whose production depends on the ocean) and "ocean-characteristic activities" (industries whose output consists predominantly of ocean-characteristic products).

4. Supply and use framework -- the thematic account organises data in a supply and use table framework that reconciles the supply of ocean-characteristic products with their use, enabling derivation of consistent estimates of ocean economy output, value added, and employment.

Structure of ocean economy thematic and extended accounts

An ocean economy thematic account typically comprises the following components^[18]:

Production accounts by ocean industry -- for each ocean-related industry, recording output, intermediate consumption, and gross value added. These accounts follow the structure of SNA production accounts but provide detail for ocean-specific industries that may be aggregated in standard national accounts.

Supply table for ocean-characteristic products -- showing the supply of ocean-characteristic products by producing industry (ocean and non-ocean industries), imports, and adjustments for taxes less subsidies and trade margins.

Use table for ocean-characteristic products -- showing the use of ocean-characteristic products as intermediate consumption by industry, final consumption by households and government, gross fixed capital formation, and exports.

Employment accounts -- recording the number of persons employed, jobs, hours worked, and full-time equivalent employment in ocean industries, potentially disaggregated by occupation, status in employment, and demographic characteristics. See International Recommendations for Tourism Statistics 2008 Chapter 7 for methodological guidance on employment measurement in sector thematic accounts^[19].

Gross fixed capital formation -- recording investment in ocean-related produced assets, including vessels, port infrastructure, aquaculture facilities, and offshore platforms.

Connection to wider accounts -- documenting the relationship between ocean economy aggregates and national totals, including the ocean economy's share of GDP, employment, and exports.

The Classification of the Functions of Government (COFOG) enables identification of government expenditure on ocean-related functions--such as environmental protection of marine areas, fisheries management, and maritime safety--which can complement the production-focused thematic accounts described above. Linking government expenditure data classified by COFOG with ocean economy production accounts supports analysis of public spending in relation to ocean economic activity. Detailed guidance on integrating government fiscal data with ocean accounts is provided in TG-1.1 Budget Processes.

Ocean economy indicators

From the thematic accounts, key indicators can be derived:

• Ocean economy GVA -- the sum of gross value added across all ocean industries, representing the ocean economy's direct contribution to GDP
• Ocean economy employment -- total persons employed or full-time equivalent positions in ocean industries
• Ocean economy share of GDP -- ocean economy GVA as a percentage of national GDP
• Ocean economy share of employment -- ocean employment as a percentage of total national employment
• Ocean economy exports -- the value of ocean-characteristic products exported
• Ocean economy investment -- gross fixed capital formation in ocean industries

The derivation and interpretation of these indicators is addressed in detail in TG-2.5 Ocean Economy Structure.

3.4 Industry Classifications

The identification and classification of ocean-related industries is essential for compiling ocean economy accounts. The International Standard Industrial Classification of All Economic Activities (ISIC) provides the internationally agreed framework for classifying economic activities by industry^[20]. ISIC Revision 4 remains the current international standard widely implemented in national statistics, although ISIC Revision 5 was endorsed by the UN Statistical Commission in March 2024 with implementation expected from 2027.

ISIC Rev.5 was endorsed by the UN Statistical Commission in March 2024, but full implementation in national statistical systems typically requires several years of preparatory work including development of national adaptations, correspondence tables, and back-casting of historical series. Compilers should ascertain which version of ISIC (or its national adaptation) is currently in use in their country's business register and economic surveys, and should use the relevant correspondence tables when mapping between ISIC versions^[21].

Core ocean industries

The following ISIC Rev.4 categories represent the core ocean-dependent industries^[22]:

Division 03 -- Fishing and Aquaculture

• Class 0311 Marine fishing -- fishing on a commercial basis in ocean and coastal waters, including taking of marine crustaceans, molluscs, and other marine organisms
• Class 0312 Freshwater fishing -- included when freshwater systems connect to marine environments or support anadromous species
• Class 0321 Marine aquaculture -- farming of marine fish, crustaceans, molluscs, seaweed, and other aquatic organisms in marine or brackish waters
• Class 0322 Freshwater aquaculture -- may be relevant for integrated coastal aquaculture systems

Division 50 -- Water Transport

• Group 501 Sea and coastal water transport
  • Class 5011 Sea and coastal passenger water transport -- including ferries, cruise ships, and excursion boats
  • Class 5012 Sea and coastal freight water transport -- including container shipping, tankers, and bulk carriers
• Group 502 Inland water transport -- relevant where inland waterways connect to marine transport systems

Division 06 -- Extraction of Crude Petroleum and Natural Gas

• Class 0610 Extraction of crude petroleum -- includes offshore oil extraction
• Class 0620 Extraction of natural gas -- includes offshore gas extraction
• Class 0910 Support activities for petroleum and natural gas extraction -- includes offshore support services

Division 35 -- Electricity, Gas, Steam and Air Conditioning Supply (partial)

• Class 3511 Electric power generation -- includes offshore wind, tidal, and wave energy generation (requires disaggregation from land-based generation)

Specific guidance on offshore energy accounting is provided in TG-3.10 Offshore Energy.

Ocean-related industries

Additional industries are partially ocean-related and require estimation of their ocean-related share^[23]:

Manufacturing

• Class 1020 Processing and preserving of fish, crustaceans and molluscs
• Class 3011 Building of ships and floating structures
• Class 3012 Building of pleasure and sporting boats
• Class 3315 Repair of transport equipment (partial -- for ship repair)

Transportation and storage

• Class 5222 Service activities incidental to water transportation -- including port and harbour operations, navigation, pilotage, and lighterage
• Class 5224 Cargo handling (partial -- for port cargo handling)
• Class 5229 Other transportation support activities (partial -- for marine support services)

Accommodation and food service activities

• Class 5510 Short-term accommodation activities (partial -- coastal tourism accommodation)
• Class 5520 Camping grounds, recreational vehicle parks and trailer parks (partial -- coastal facilities)

Professional, scientific and technical activities

• Class 7110 Architectural and engineering activities (partial -- marine engineering)
• Class 7210 Research and experimental development on natural sciences and engineering (partial -- marine research)

Public administration

• Class 8423 Public order and safety activities (partial -- coast guard, maritime enforcement)
• Class 8421 Foreign affairs (partial -- maritime boundary administration)

Education

• Class 8530 Higher education (partial -- maritime education and training)

Arts, entertainment and recreation

• Class 9319 Other sports activities (partial -- marine recreation including sport fishing)

Determining ocean-related shares

For industries that are only partially ocean-related, the ocean economy share must be estimated. This concept is directly analogous to the "tourism ratio" described in the SF-MST (paras 4.50--4.53), which estimates the share of an industry's output attributable to tourism demand^[24]. Methods include^[25]:

1. Direct identification -- where establishment-level data allow identification of ocean-related establishments within an industry (e.g., coastal hotels with marine facilities)

2. Survey-based estimation -- where sample surveys collect data on the ocean-related share of output or employment for establishments in mixed industries

3. Modelled estimation -- where proxy indicators are used to estimate ocean-related shares (e.g., using coastal tourism visitor data to estimate accommodation industry shares)

4. Administrative data -- where licensing or registration systems identify ocean-related activities (e.g., registered fishing vessels, port authority records). Multi-agency data compilation has been demonstrated in practice--for example, Canada's compilation of marine economy accounts draws on data from multiple federal agencies including Fisheries and Oceans Canada, Natural Resources Canada, Transport Canada, and Statistics Canada across sectors including fisheries, offshore energy, marine transportation, and port construction.

The approach for tourism follows the Tourism Satellite Account methodology, where the "tourism ratio" concept can be adapted to estimate the share of tourism industries attributable to coastal and marine tourism^[26]. Detailed guidance on survey methods is provided in TG-4.2 Survey Methods, and on administrative data sources in TG-4.3 Administrative Data.

3.5 Supply and Use Tables

Supply and use tables (SUTs) provide the integrating framework for ocean economy accounts. SUTs record the supply of products (from domestic production and imports) and their use (as intermediate consumption, final consumption, capital formation, or exports), ensuring that total supply equals total use for each product^[27]. The SNA 2025 Chapter 15 provides comprehensive guidance on the structure, compilation, and balancing of supply and use tables.

Structure of ocean economy SUTs

An ocean economy supply table shows, for each ocean-characteristic product:

• Output by ocean industries
• Output by non-ocean industries (where applicable)
• Imports of the product
• Trade and transport margins
• Taxes less subsidies on products
• Total supply at purchasers' prices

An ocean economy use table shows, for each ocean-characteristic product:

• Intermediate consumption by ocean industries
• Intermediate consumption by non-ocean industries
• Final consumption expenditure by households
• Final consumption expenditure by government
• Gross fixed capital formation
• Changes in inventories
• Exports
• Total use at purchasers' prices

Compilation procedure for ocean economy SUTs

The compilation process follows SNA 2025 Chapter 15 guidance and adapts the tourism measurement approach from the SF-MST^[28]. The following steps provide a systematic procedure:

Step 1: Identify ocean economy industries via ISIC concordance

Using the industry categorisation in Section 3.4 above and the ISIC-ocean economy concordance in Table 2 below, identify all ISIC Rev.4 classes that constitute the ocean economy in the compiling country. For each class, determine whether it is wholly ocean-dependent (ocean ratio = 1.0) or partially ocean-related (ocean ratio < 1.0). This classification corresponds to the identification of "tourism characteristic activities" in the SF-MST framework^[29].

Step 2: Identify ocean-characteristic products via CPC concordance

Determine which products are wholly or partially ocean-characteristic, using the Central Product Classification (CPC) aligned with ISIC industry classifications. Ocean-characteristic products include:

• Fish and fishery products -- Live fish and other fishing products (CPC Division 04); Processed and preserved fish products (CPC Group 212)
• Marine transport services -- Sea and coastal water transport services (CPC Divisions 65--67); Port services, pilotage, and lighterage
• Offshore extraction products -- Crude petroleum from offshore sources; Natural gas from offshore sources; Offshore mineral products
• Marine tourism and recreation services -- Coastal accommodation services (partial); Marine recreational services

Step 3: Extract ocean economy sub-matrices from national SUTs

From the balanced national supply and use tables, extract the columns corresponding to identified ocean economy industries and the rows corresponding to ocean-characteristic products. This creates ocean economy supply and use tables that are subsets of the national tables (SNA 2025 Chapter 15, para 15.9). If the national SUTs are published at a level of aggregation above individual ISIC classes, compilers may need to use supplementary data sources--business surveys (TG-4.2) and administrative records (TG-4.3)--to disaggregate the relevant columns and rows.

Step 4: Determine ocean economy ratios

For partially ocean-related industries, estimate the share of output directly attributable to ocean-related activity. This is analogous to the tourism ratio described in SF-MST Chapter 3: the total output of ocean-characteristic products by an industry divided by its total output^[7:1]. For example, if 40 per cent of short-term accommodation output in a coastal region serves marine tourism demand, the ocean economy ratio for that industry is 0.40. Methods for estimating these ratios include analysis of establishment-level survey data, use of tourism statistics for coastal areas, and expert judgement informed by administrative records.

Step 5: Balance the ocean economy SUT

Reconcile supply and use for each ocean-characteristic product, resolving discrepancies through quality assessment and adjustment. The balancing process improves the consistency and reliability of the accounts. SNA 2025 Chapter 15 (paras 15.130--15.139) provides detailed guidance on balancing procedures, including use of commodity flow methods, confrontation of supply and demand estimates, and iterative adjustment.

Step 6: Derive GVA, employment, trade aggregates

From balanced ocean economy SUTs, derive gross value added by industry (output less intermediate consumption), total ocean economy GVA, ocean economy employment, ocean economy exports, and ocean economy GFCF. These aggregates provide the foundation for the structural indicators described in TG-2.5 Ocean Economy Structure.

Ocean economy supply-use table template

Table 1 provides a template for the ocean economy supply-use table in monetary terms. The supply table records the output of ocean-related products by ocean industries; the use table records the intermediate consumption, final demand, and value added for each industry. This template follows the structure established in SNA 2025 Chapter 38 for thematic and extended accounts^[30].

Table 1: Ocean Economy Supply-Use Table Template (Basic Prices, currency units)

SUPPLY TABLE

USE TABLE

The supply-use identity requires that Total Supply = Total Use for each product. GVA for each industry provides the primary measure of the ocean economy's contribution to GDP.

ISIC-ocean economy concordance

Table 2 maps ISIC Rev.4 industry codes to ocean economy activities, identifying the relationship type and recommended estimation approach. This concordance supports the identification and measurement of ocean industries within existing national statistical frameworks^[31].

For "ocean-dependent" industries (100% attributable), the full output of the ISIC class is included. For "partial" industries, the ocean share must be estimated using supplementary data such as administrative records or surveys. For "ocean-related" industries, professional judgement and data analysis determine inclusion.

3.6 Worked Example: Ocean Economy SUT for Country A

To illustrate the compilation procedure, this section presents a worked example for a hypothetical medium-income coastal state ("Country A") with a total GDP of approximately USD 50 billion, total employment of 10 million persons, and an ocean economy representing 3.5 per cent of GDP. All monetary values are expressed in millions of US dollars. The example demonstrates how the ocean economy SUT template (Table 1) is populated with synthetic data consistent with the structural indicators presented in TG-2.5 Ocean Economy Structure Section 3.2 (Table 3.1).

Compilation context

Country A has:

• A diversified ocean economy dominated by coastal tourism (32% of ocean GVA) and offshore oil and gas (24%)
• Maritime transport and port operations contributing 18% of ocean GVA
• A traditional marine living resources sector (fishing, aquaculture, fish processing) contributing 10%
• Emerging marine renewable energy sector (offshore wind) contributing 4%
• Shipbuilding and "other ocean industries" (marine research, maritime education, coast guard) making up the remainder

The compilation follows the six-step procedure in Section 3.5, extracting ocean industry columns from national SUTs and applying ocean economy ratios to partially ocean-related industries.

Simplified ocean economy supply table (Country A)

Table 3 presents a simplified supply table for seven ocean-characteristic product groups and seven ocean industry groups. The table shows domestic production by industry (columns 2--8), imports (column 9), and total supply (column 10).

Table 3: Ocean Economy Supply Table, Country A (million USD, basic prices)

The Total Supply column sums domestic production and imports for each product. The Total Output row shows the gross output of each ocean industry, which feeds into the Use Table.

Simplified ocean economy use table (Country A)

Table 4 presents the use table showing intermediate consumption by industry (columns 2--8), final demand categories (columns 9--12), and total use (column 13). The bottom rows show total intermediate consumption, GVA, and total output (which must equal the output row from the Supply Table).

Table 4: Ocean Economy Use Table, Country A (million USD, basic prices)

Note: The Total Output row sums to USD 4,771M because it includes the industry output column totals (USD 3,225M) plus final demand columns (Households USD 1,345M + Govt USD 87M + GFCF USD 380M + Exports USD 1,212M = USD 3,024M). The discrepancy reflects the simplified structure of this illustrative example. In a fully balanced SUT, total supply (domestic output + imports) would equal total use (intermediate + final demand) for each product.

Key aggregates derived from the SUT

From Tables 3 and 4, the following ocean economy aggregates are derived:

• Ocean economy GVA: USD 1,690M (sum of GVA row in Table 4, before rounding adjustment to USD 1,750M in TG-2.5)
• Ocean economy output: USD 3,225M (sum of Total Output row for industries in Table 3)
• Ocean economy exports: USD 1,212M (sum of Exports column in Table 4)
• Ocean economy GFCF: USD 380M (sum of GFCF column in Table 4)
• Ocean economy imports: USD 334M (sum of Imports column in Table 3)

These aggregates feed directly into the structural indicators in TG-2.5 Ocean Economy Structure, including ocean economy share of GDP (1,750/50,000 = 3.5%), ocean economy share of exports (620/12,000 = 5.2% in TG-2.5 Table 3.1a), and ocean economy investment rate (380/1,750 = 21.7%).

Cross-stack linkages

The ocean economy SUT compiled in this example provides the data foundation for multiple downstream applications across the Ocean Accounts Technical Guidance series:

• Upward to indicators: The GVA, employment, and trade aggregates derived from the SUT populate the structural indicators in TG-2.5 Tables 3.1, 3.1a, 3.1b, and 3.3.
• Upward to budget processes: The four-row budget presentation format in TG-1.1 Section 3.3 draws GDP contribution, employment, and export values directly from the SUT aggregates.
• Upward to investment analysis: The GFCF column in the Use Table (Table 4) provides the industry-level investment data required for the investment indicators in TG-2.6.
• Downward to data sources: The product and industry detail required to populate the SUT draws on survey data (TG-4.2) and administrative records (TG-4.3), harmonised through the procedures in TG-4.6.
• Lateral to flows accounting: The production data by ocean industry (output and intermediate consumption) feed into the economy-to-environment flow accounts in TG-3.4, enabling estimation of marine pollution, resource extraction, and other pressures.
• Lateral to combined presentations: The aggregates derived from the ocean economy SUT are integrated with ecosystem accounts in the combined presentation structures described in TG-3.8.

3.7 Treatment of Coastal Tourism

Coastal tourism presents particular challenges for supply and use table compilation because tourism is defined from the demand side (activities of visitors) rather than the supply side (industrial classification)^[32]. The Statistical Framework for Measuring the Sustainability of Tourism (SF-MST) provides guidance on integrating tourism statistics with economic and environmental accounts^[33].

For ocean economy accounts, the recommended approach is:

1. Identify coastal tourism destinations -- delineate coastal areas where tourism activity is concentrated

2. Estimate coastal tourism expenditure -- using visitor surveys or tourism satellite account data, estimate tourism expenditure in coastal destinations

3. Allocate expenditure to products -- classify tourism expenditure by product category (accommodation, food, transport, recreation)

4. Estimate ocean-related shares -- within coastal tourism expenditure, estimate the share directly attributable to marine activities (such as marine recreation, diving, fishing charters) versus general tourism services

5. Integrate with SUTs -- incorporate coastal tourism product flows into the supply and use table framework, ensuring consistency with TSA methodology where available

The SF-MST provides specific guidance on measuring tourism at sub-national levels, including destination-level measurement approaches that are directly applicable to coastal and marine tourism areas^[34].

3.8 Integration with National SUTs

Ocean economy SUTs should be compiled as a disaggregation of national SUTs, ensuring that:

• Ocean industry output and intermediate consumption aggregate to values consistent with national accounts
• Ocean product supplies and uses aggregate to values consistent with national commodity flow accounts
• Ocean economy GVA sums to a component of national GDP

This integration ensures that ocean economy statistics are consistent with and comparable to national economic statistics, and enables analysis of the ocean economy's share of national aggregates.

3.9 Extended Applications: Input-Output Analysis

Balanced supply and use tables provide the foundation for constructing symmetric input-output tables (IOTs) that enable extended analytical applications^[35]. Input-output analysis allows estimation of:

• Multiplier effects -- the total economic impact of ocean industries, including direct, indirect, and induced effects throughout the economy
• Backward and forward linkages -- the degree to which ocean industries are integrated with other sectors of the economy
• Embodied resource flows -- the natural inputs (including marine resources) embodied in production throughout supply chains

These extended analyses support policy assessment and are relevant to the derivation of economic dependency indicators described in TG-2.2 Macro-level Dependencies.

4. Acknowledgements

This Circular has been approved for public circulation and comment by the GOAP Technical Experts Group in accordance with the Circular Publication Procedure.

Authors: Charlie Colgan, CBE

Reviewers: Phil James

5. References