Document Type


Publication Date

Spring 4-2014


Many ocean countries have estimated and released the size of the ocean economy or industry. However it is difficult to compare the ocean economy among countries because the definition, classification standard and scope differ by each country. This study aims to provide concrete practical proposals for the definition, classification standard and scope of the ocean economy. With regard to the definition of the ocean economy, a combination of industrial and geographical perspectives is considered at the same time. As a result, the ocean economy is defined as the economic activities that directly or indirectly take place in the ocean, use outputs from the ocean, and put the goods and services into the ocean’s activities. To determine the scope of the ocean economy, about 50 common words are extracted from the cases of 10 ocean country accounts, and 3 characteristics of the scope of the ocean economy are inferred from them. These are ‘in the ocean’, ‘from the ocean’, and ‘to the ocean’. Besides, supply chain and relationship among the ocean economies are considered. According to the newly proposed definition and classification standard, 12 sectors are newly rebuilt as the ocean economy.