Taiwan's Ocean Industry Output Reaches NT$1.5 Trillion in 2024, Cementing Blue Economy as a Key Growth Engine

Taiwan's Ocean Affairs Council (OAC) announced on July 24 that the nation's total ocean industry output reached NT$1.5108 trillion in 2024, accounting for approximately 5.9% of GDP, underscoring the blue economy's emergence as a trillion-dollar pillar of economic growth. The OAC stated that the establishment of a comprehensive marine industry statistical framework, together with the implementation of the Marine Industry Development Act（《海洋產業發展條例》）, has laid the foundation for a standardized statistical system. Total industry output increased 25.3% year-on-year, while cumulative growth over the past 5 years reached 64%, highlighting the sector's sustained growth momentum.

According to the OAC, the 3 major pillars of Taiwan's ocean economy are "marine transportation and supporting services" (50%, NT$753.3 billion), "marine fisheries and aquaculture" (23%, NT$353.2 billion), and "marine recreation and tourism" (14%, NT$208.4 billion).

Among all sectors, marine energy recorded the strongest annual growth of 84%, driven by the grid connection and commercial operation of offshore wind farms. Meanwhile, marine engineering expanded 32%, emerging as a new engine of growth for the ocean economy and reflecting the government's progress in advancing its net-zero transition and diversified energy policies.

Looking ahead, the OAC said it will continue to balance marine conservation with industrial development by integrating artificial intelligence (AI), big data, and smart technologies to accelerate the green transformation of fisheries, maritime transport, tourism, and energy industries. The council also plans to further strengthen the competitiveness of Taiwan's marine industries through the 2025 National Ocean Policy White Paper.

Taiwan's Ocean Industry Output and GDP Share in 2024

Historical Overview of Taiwan's Ocean Industry Output

Source:Ocean Affairs Council (OAC)
Compilation & Ttranslation: EnergyOMNI