ABSTRACT
The focus of this chapter is to estimate the condition and composition of the global ocean economy by conducting a literature review and a review of secondary data. This chapter highlights the concept of the blue economy, and its tools and pillars which is a currently emerging issue among several countries across the world. Natural resources and biological systems, which are at the heart of the international ocean economy, form its capital. Its natural capital is based on renewable resources, such as the fishing industry and sea floor nutrients; ecosystems and ecosystem processes, that represent the interactions between living and non-living surroundings as a functional unit; and ecosystems and ecosystem processes, that are the interactions between the living and non-living surroundings as a system component. The blue economy, according to surveys and marine researchers, is a financial construct based on the advantages and values derived from the coastal environment. In this chapter, there is also discussion around general planning and the coordinated growth between the marine ecology, the ocean, and the coastal zone economic system. According to scientific research and assessments, the long-term governance of ocean resources requires interconnection across borders and industries, as well as a range of different collaborations and on hitherto unknown scale. In reality, striking a balance is challenging due to the increasing deterioration of ocean conditions as a result of industrial and human activities. These frequently cause problems, such as contamination, inappropriate fishing, and biodegradation. All of this indicates that the blue economy is formed from a number of interconnected industries that use the wealth of the ocean to drive their own economic growth and development.
