Gross Domestic Product
In 2024, Maine’s GDP rose 3%, slightly above 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 2024, Maine’s GDP rose 3.0% adjusted for inflation, meeting the benchmark by continuing a five-year trend of growth slightly above the U.S. and New England averages (2.8% and 2.9%, respectively). Growth was spread across many industries, with manufacturing and accommodation and food services being the exceptions. By this measure, Maine ranked 17th of the U.S. states. Over the past decade, growth has exceeded the U.S. and other New England states, mainly because during the 2020 recession Maine’s GDP did not decline as sharply as it did elsewhere.
Real estate, professional and business services, government, and health care and social assistance together made up over one-half of Maine’s GDP in 2024.
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 2024
Source: U.S. Bureau of Economic Analysis