Measuring the US Space Economy - Overview of Satellite Accounts and Policy Insights
This content discusses the measurement of the US space economy through satellite accounts, identifying commodities, and the role of US federal agencies in shaping space policy. Learn about the BEA's definition of the space economy and access information on US space policy directives and agency involvement.
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Presentation Transcript
Measuring the US Space Economy United Nations Office for Outer Space Affairs Space Economy Webinar Series Tina Highfill, Research Economist Bureau of Economic Analysis US Department of Commerce July 6, 2020
Economic Satellite Accounts System of National Accounts (SNA) provides the international standards for compiling macro-economic statistics. In addition to the core set of accounts, the 2008 SNA introduced satellite accounts, which are linked to the central framework of national accounts. BEA satellite account examples: Space Economy, Digital Economy, Outdoor Recreation, Oceans Economy Challenge: identifying and quantifying relevant commodities across industries BEA s space economy website: https://www.bea.gov/data/special-topics/space-economy 2
Space Economy Satellite Account Step 1: Identify relevant commodities (goods and services) within supply-use tables Step 2: Separate space and non-space economic activity within commodities National Science Foundation data indicate 34% of private aerospace R&D spending in 2012 was attributable to space activity (0.34 = 2,273 / 6,681) 3 3/2/2025
Measuring the Space Economy Existing definitions of the space economy are not specific enough for national accounting purposes BEA s definition of space economy will incorporate stakeholder feedback. Currently, there is a wide range of opinions on certain commodities: Exploitation of satellite data and imagery Television broadcasting Solar energy Construction Educational services 4 3/2/2025
Information about US Space Policy Although BEA is non-political and is not involved in policymaking, many US federal agencies are actively involved in shaping US space policy. These links provide more information. US Department of Commerce: Secretary Ross Remarks from World Economic Forum 2020 US Office of Space Commerce: Remarks from US-Italian Event on the New Space Economy US Office of Space Commerce: Remarks at UN General Assembly US Space Policy Directive-2: Streamlining Regulations on the Commercial Use of Outer Space US Space Policy Directive-3: National Space Traffic Management Policy US State Department: Remarks at the Space Enterprise Summit by Undersecretary of State Andrea Thompson 5 3/2/2025
