Maryland is home to the eighth largest port, Baltimore City, in the United States of America. According to the US Census Bureau, Maryland's median household income is about $69,272, making its households wealthiest in the nation.
| Gross state product |
US $257 |
| Per capita income |
US $ 51,724 |
| Unemployment rate |
7.5% |
| Major industries |
Manufacturing industries, agriculture, mining and banking |
| Major sectors |
Service, Agriculture, manufacturing |
Maryland's economy is heavily dependent on the tertiary service sector, which is strongly influenced by its location. The state is heavily industrialized and is home to many large military bases.
The gross state product of the state is estimated at US $257 billion. It ranks ninth in the country in number of venture capital deals for the year 2009. Transportation is an important service activity, centered on the Port of Baltimore and its related rail and trucking access. Located close to Washington D.C., the state contributes to technical and administrative tasks for the defense/aerospace industry.
Manufacturing, with no specific sub-sector, contributes approximately 20% to the total GDP. It includes electronics, computer equipment, and chemicals. Mining is limited to coal. Agriculture is also important for the economy of the state. Fishing is a large component of the agricultural products and the largest catches by species are the blue crab, oysters, stripe bass, and menhaden. Other agricultural products are dairy products, and horticultural crops such as cucumbers, watermelons, sweet corn, tomatoes, muskmelons, peas, and squash.
