FAB report highlights ocean economy as world’s fifth largest at $2.6 trillion

The ocean economy is valued at US$2.6 trillion, making it the world’s fifth-largest economy if considered a country, according to a report published by First Abu Dhabi Bank (FAB).

The report, “The Ocean Economy: Becoming the World’s Fifth-Largest Economy”, said the sector has doubled in real terms over the past 25 years, with gross value added rising from $1.3 trillion in 1995 to $2.6 trillion in 2020.

It examines how stronger financial structures can expand sustainable ocean solutions, mobilise capital and support global economic growth and resilience.

The report noted that around $175 billion in annual financing is required to protect life below water under Sustainable Development Goal 14, highlighting the need for stronger project pipelines, clearer standards, improved data and financing structures capable of turning ocean priorities into investable projects.

It reflects the outcomes of a roundtable convened by FAB in cooperation with the World Economic Forum during London Climate Action Week.

Among its key priorities, the report calls for developing bankable investment opportunities and repeatable financing models, while strengthening coordination between policymakers, businesses and financial institutions to attract greater private-sector capital.

It also highlights significant opportunities for expanding blue finance in the Middle East by connecting the region’s strengths in global trade, energy transition, water security and coastal development with international capital, technical expertise and credible financing structures.

FAB’s focus on the sustainable ocean economy forms part of its broader sustainable and nature-related finance agenda.

The bank has issued the first blue bond by a GCC financial institution to support water and wastewater infrastructure and was the first financial institution in the MENA region to publish a disclosure aligned with the Taskforce on Nature-related Financial Disclosures (TNFD).

FAB also served as Principal and Official Banking Partner of the IUCN World Conservation Congress 2025, supporting dialogue on nature finance, biodiversity, water and the climate-nature nexus.