Economy of Maine State

June 29, 2010US State Economiesby EconomyWatch


Demography And Social Indicators

Maine is one of the states in the NE of the United States. The state is bordered by New Hampshire, the Canadian provinces of Quebec, and New Brunswick, the Atlantic Ocean, and the Bay of Fundy.

The state has a total geographical area of 35,385 sq mi; with total land area of 30,862 sq mi; and total acres forested 17.7 mil.

The economic condition of Maine is facing more problems in the present days not only due to the poor soil and short growing seasons but also due to their inefficiency in the era of technological advancement and competitive policies adopted by others.

Demography And Social Indicators
The total estimated population of the state in 2005 was at 1,321,505 in comparison to 1,317,253 in July 2004. The net change in the population of the state 2002-03 was 0.8%.

According to the US Census 2000, the total population of the state was 1,274,923.

The density of the population of the state is calculated at 42.3 per sq mi.

With regards to the Racial Distribution of the state in 2000: 96.9% white, 0.5% black, 0.7% Asian, 0.6% Native American.

The rate of unemployment in the state as of 2003 was 5.1%.

Business and Economy of Maine
According to the Bureau of economic analysis, Maine's total Gross State Product was for 2003 was US $ 41 billion with a per capita personal income of US $29,164.

Among the various sectors of the economy the manufacturing sector plays a very significant role in the economy. The state is a leading producer of the paper and the wood products.

The Chief Industries of the state are manufacturing, agriculture, fishing, services, trade, finance, government, insurance, real estate and construction.

Important manufacturing goods of the state are paper and the wood products, transportation equipment.

Major crops of the state are potatoes and aquaculture products.

Livestock of the state: (Jan 2004) 91,000 Cattle/Calves; (Jan 2003): 6,500 hogs/pigs; (Dec 2003): 5.5 million Chickens.

Energy Production In Maine
Electricity Production (est.2002, kwh, by source): Hydroelectric: 6 mil.

Tourist Attraction Of Maine

  • Acadia Natl. Park, Bar Harbor;
  • Old Orchard Beach;
  • Portland's Old Port;
  • Kennebunkport;
  • Common Ground Country Fair;
  • Portland Head light;
  • Baxter State Pk.

Colleges, Schools and Universities In Maine

  • American College of Computer and Information Sciences
  • Centenary College of Maine
  • Dillard University
  • Maine State University at Alexandria
  • Maine State University-Health Sciences Center
  • Maine State University-Shreveport
  • Maine Tech University
  • Loyola University New Orleans
  • New Orleans Baptist Theological Seminary
  • Nicholls State University
  • Northwestern State University of Maine
  • Our Lady of Holy Cross College
  • Saint Joseph Seminary College
  • Southeastern Maine University
  • Southern University and A & M College
  • Southern University at New Orleans
  • Southern University Law Center
  • Tulane University of Maine
  • University of Maine at Lafayette
  • University of Maine at Monroe
  • University of New Orleans
  • Xavier University of Maine

Further Readings

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