The Role of the Marine Sector in the Irish National Economy

Post by Karyn Morrissey

The realisation that the world’s oceans play an important role in climate regulation and many territory activities, notably food production, coupled with economic changes and the rapid advancement in ocean technology have seen a shift in the perception of the importance of the marine resource. My recent research in Ireland has estimated both the national and regional economic value of the marine sector. However, economic activity does not exist in a vacuum. Activities in the marine sector not only directly affect the industries in the sector but also influence other sectors through inter-sectoral linkages. My new research uses an Input-Output (IO) methodology to examine the linkages and production effects of the Irish marine sector on the national economy. This work is presented in the world’s leading marine policy journal, Marine Policy, (volume 37, p. 230–238) and represents the first effort to quantify the inter-industry linkage effects, production-inducing effects and employment multipliers in the marine sector. I found that a number of marine sectors, notably the maritime transportation sector, have an important economic role within the wider Irish economy.

 

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