Gross Domestic Product
In 2023, Maine’s GDP rose nearly 3%, outpacing other New England states.
Favorable movement since the last available data
Benchmark: The growth of Maine’s GDP will outpace that of New England and the U.S.
Overview
Gross domestic product (GDP) provides a sense of Maine’s overall economic performance. It reflects the market value of all goods and services produced in the state and some nonmarket goods and services provided by government agencies and nonprofit institutions.
In 2023, Maine’s GDP rose 3% adjusted for inflation, despite declines in a few industries such as manufacturing and wholesale trade. By this measure, Maine ranked 21st of the U.S. states, matched the U.S.’s 2.9% growth, and exceeded the New England average of 1.8%. Over the past decade, Maine’s GDP growth has kept pace with the U.S. and exceeded other New England states.
Real estate, professional and business services, government, and health care and social assistance together made up over one-half of Maine’s GDP in 2023.
Fig. A
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Real Gross Domestic Product Growth Rate
Source: U.S. Bureau of Economic Analysis
Fig. B
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Maine's Gross Domestic Product by Major Industry Sector 2022
Source: U.S. Bureau of Economic Analysis