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The U.S. Government\'s Bureau of Economic Analysis (BEA) has released its Space Economy Update building on the preliminary estimates published in December 2020.

On this installment of The Ex Terra Podcast, we welcome back Dr. Tina Highfill to talk us through the space economy update and what has changed since the release of that initial report.

The revised figures show that, in 2019, the U.S. space economy accounted for $194.4 billion of real gross output, $125.9 billion of real GDP (translating to 0.6 percent of U.S. GDP), $42.4 billion of private industry compensation, and 354,000 private sector jobs.

Average annual growth of real value added over the 2012\\u20132019 period was 2.7 percent, higher than the 2.3 percent growth in the overall U.S. economy.

This was driven by strong growth in space-related manufacturing value added, which grew by an average of 7.8 percent annually, offsetting declines seen in the direct-to-home satellite TV market.

For all but one year (2017), manufacturing growth in the space economy was faster than the overall U.S. economy \\u2013 driven by production of satellite equipment and GPS receivers.

The goal of the space economy statistics is to highlight the space-related production and spending that is already present in the supply-use tables. In practice, these data represent a rearrangement of the current supply-use data to isolate space economy spending and production. A detailed description of the basic methodology, including background information on BEA concepts and general national accounting methods, is available in the December 2020 Survey of Current Business.

How does what happens in space affect your everyday life? The Ex Terra podcast is dedicated to introducing you to many of the interesting people involved in the commercial space industry, and taking you behind the scenes with many of the companies making significant contributions to the new space economy. The podcast is available on Anchor, Spotify, Apple Podcasts, Google Podcasts, Breaker, Overcast, Pocketcasts and Radio Public.