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US State economic profile
Maine - Economic Profile
Statistics, economic information and rankings for the Pine Tree State
In 2026, the state of Maine has a population of 1,421,118, having grown an annualized 0.6% over the five years to 2026, which ranks it 26th out of all 50 US states by growth rate. Maine's gross state product (GSP) in 2026 reached $78.9b, with growth of 2.0% over the 5 years to 2026. Businesses in Maine employed a total of 681,373 people in 2026, with average annual employment growth over the past five years of 1.2%. The top three sectors by total employment are Real Estate & Rental & Leasing, Healthcare & Social Assistance, Retail Trade, while the unemployment rate across the state in 2026 was 3.7%.
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State economic profile
Maine Economic Overview
$78.9b
Gross state product
1,421,118
Population
186,720
Businesses
What is Maine's Gross Domestic Product (GDP)?
In 2026, Maine's GDP reached $78.9b, representing an increase of 2.0% from 2025. Maine's GDP has grown at an annualized rate of 1.5% over the five years to 2026. Moreover, Maine's trailing five-year GDP growth ranks it 25th out of all 50 US states.
State GDP, or Gross State Product, is a measurement of a state's output, or the sum of value added from all industries in the state. It is a common indicator used to track the health of a state's economy.
You can track trends in Maine's GDP, and compare them to the national average, using the chart below.
State economic profile
Maine Industry Trends
Learn about current trends affecting the most significant industries for Maine's state economy, down to the county level. IBISWorld offers state industry research reports on over 30,000 industries across all 50 states in the US, including 619 industries in Maine.
What are Maine's Largest Industries by Revenue?
The largest industries by revenue in Maine are Life Insurance & Annuities, Gasoline & Petroleum Bulk Stations and Hospitals, which generated $12.2b, $8.6b and $7.5b in 2026.
| Industry | 2026 revenue | |
|---|---|---|
| 1. | Life Insurance & Annuities | $12.2b |
| 2. | Gasoline & Petroleum Bulk Stations | $8.6b |
| 3. | Hospitals | $7.5b |
| 4. | Supermarkets & Grocery Stores | $5.4b |
| 5. | New Car Dealers | $5.3b |
| 6. | Public Schools | $3.8b |
| 7. | Commercial Banking | $3.5b |
| 8. | Petroleum Refining | $3.3b |
| 9. | Health & Medical Insurance | $3.1b |
| 10. | Gas Stations with Convenience Stores | $3.1b |
State economic profile
Top Companies in Maine
Learn about current trends affecting the top companies in Maine. IBISWorld offers benchmarking data and tools on over 5,000 companies in the US.
Top 10 Companies Headquartered in Maine by Employment
The largest companies by employment in Maine are State of Maine, Mainehealth Services and Hannaford Bros. Co., LLC, which employed 86,712, 22,751 and 9,251 people in 2026.
| Company | 2026 employment | Share of employment | |
|---|---|---|---|
| 1. | State of Maine | 86,712 | 12.7% |
| 2. | Mainehealth Services | 22,751 | 3.3% |
| 3. | Hannaford Bros. Co., LLC | 9,251 | 1.4% |
| 4. | Walmart Inc. | 8,125 | 1.2% |
| 5. | MaineGeneral Health | 4,251 | 0.6% |
| 6. | L. L. Bean, Inc. | 3,251 | 0.5% |
| 7. | General Dynamics Mission Systems | 3,111 | 0.5% |
| 8. | Central Maine Healthcare Corporation | 2,751 | 0.4% |
| 9. | Home Depot, inc. | 2,333 | 0.3% |
| 10. | Td Bank N A | 2,251 | 0.3% |
State economic profile
Maine Sector Statistics
In Maine, certain sectors drive a higher share of state GDP and employ more workers than others. However, simply looking at raw numbers doesn't always tell the whole story. Factoring in the current year growth percentage, in addition to the annualized growth percentage over the past five years, will give you a deeper understanding of the economic situation.
What is Maine's GDP by Sector?
The Real Estate & Rental & Leasing, Healthcare & Social Assistance and Retail Trade sectors contributed the most to Maine's GDP in 2026, representing a combined 42.8% of state GDP.
GDP trends by sector are an important indicator of which sectors are contributing the most value-add to the state economy, in addition to how the state economy is evolving over time.
| Sector | GDP | Growth 2026 | Annualized growth 2021-26 |
|---|---|---|---|
| Real Estate & Rental & Leasing | 15,369,375,023 | 6.1% | 6.4% |
| Healthcare & Social Assistance | 9,248,305,118 | 2.6% | 2.7% |
| Retail Trade | 7,390,385,058 | 5.3% | 4.8% |
| Professional, Scientific & Technical Services | 7,094,966,656 | 9.0% | 9.2% |
| Manufacturing | 6,752,219,929 | -0.3% | -0.8% |
| Finance & Insurance | 4,661,160,073 | -0.1% | -0.8% |
| Management of Companies and Enterprises | 3,817,147,981 | 12.3% | 11.5% |
| Accommodation & Food Services | 3,729,015,137 | 5.9% | 5.2% |
| Wholesale Trade | 3,085,204,861 | -2.1% | -2.7% |
| Information | 2,305,355,999 | 8.7% | 8.6% |
| Administration, Business Support and Waste Management Services | 2,279,835,388 | 0.9% | 1.7% |
| Construction | 2,230,085,136 | -0.6% | -1.5% |
| Other Services (except Public Administration) | 1,391,733,837 | -1.0% | -0.7% |
| Transportation & Warehousing | 1,381,603,379 | -0.5% | -1.4% |
| Educational Services | 1,237,214,277 | 3.3% | 4.0% |
| Arts, Entertainment & Recreation | 1,191,469,480 | 10.9% | 11.8% |
| Utilities | 1,016,718,014 | 0.2% | 0.8% |
| Agriculture, Forestry, Fishing & Hunting | 648,002,447 | -5.9% | -5.5% |
| Mining | 35,319,949 | -1.8% | -7.4% |
What is Maine's Employment by Sector?
The Healthcare & Social Assistance, Retail Trade and Educational Services sectors contributed the most to employment in Maine in 2026, representing a combined 41.5% of state employment.
Employment trends by sector are an important indicator of which sectors are growing or contracting most rapidly relative to the state economy as a whole.
| Sector | Employment | Growth 2026 | Annualized growth 2021-26 |
|---|---|---|---|
| Healthcare & Social Assistance | 119,468 | 1.3% | 1.4% |
| Retail Trade | 108,455 | 0.8% | 2.0% |
| Educational Services | 55,091 | -0.3% | -0.3% |
| Manufacturing | 54,468 | 2.2% | 1.5% |
| Accommodation & Food Services | 53,806 | -0.6% | 3.4% |
| Construction | 47,863 | 2.3% | 2.9% |
| Professional, Scientific & Technical Services | 41,667 | 2.2% | 4.0% |
| Administration, Business Support and Waste Management Services | 34,556 | 1.7% | 2.2% |
| Transportation & Warehousing | 33,633 | 2.0% | 3.5% |
| Finance & Insurance | 30,776 | 0.5% | 0.1% |
| Other Services (except Public Administration) | 25,634 | 1.2% | 2.4% |
| Real Estate & Rental & Leasing | 19,885 | 1.1% | 1.8% |
| Wholesale Trade | 18,535 | 0.8% | 1.3% |
| Arts, Entertainment & Recreation | 13,449 | 0.7% | 1.3% |
| Information | 10,192 | 1.1% | -1.4% |
| Agriculture, Forestry, Fishing & Hunting | 9,929 | -1.2% | -3.6% |
| Utilities | 3,736 | 2.0% | 1.0% |
| Mining | 230 | -2.1% | 15.1% |
State economic profile
Maine Employment Trends
681.4k
Employment
3.7%
Unemployment
What Employment Trends are Impacting Maine?
The state of Maine employs 681,373 people in 2026, which ranks it 41st out of all 50 US states. Employment in Maine has grown at an annualized rate of 1.7% over the five years to 2026, overperforming the national average of 1.7%. Major sectors by employment in Maine include Healthcare & Social Assistance, Retail Trade and Educational Services, which employed 119,468, 108,455 and 55,091 people in 2026, respectively. Maine's unemployment rate is 3.7% in 2026, which ranks it 12th out of all 50 US states. Maine's unemployment rate has trended downwards at a rate of -5.2% over the five years to 2026, overperforming the US economy as a whole.
Employment trends indicate the degree of tightness or slack in labor markets, in addition to the overall strength of an economy. Faster employment growth typically indicates a strong and growing economy, while lower unemployment tends to imply tightness in labor markets.
You can track unemployment trends in Maine, and compare them to the US economy, using the chart below.
$102.2k
Per capita disposable income
What is Maine's Per Capita Disposable Income?
Per capita disposable income, also known as disposable personal income (DPI), is the amount of money that the average person in an economy has available for spending and saving after accounting for income taxes. Maine's DPI in 2026 was $102.2k, compared to the US average of $156.5k, which places it 25th out of all 50 US states.
Disposable income is regarded as a key economic indicator as trends in disposable income are indicative of the level of aggregate demand, the state of labor markets and the financial strength of households.
You can track trends in Maine's per capita disposable income, and compare it to the US average, using the chart below.
State economic profile
Maine Construction & Building Trends
$959.0tn
Nonresidential construction
$2.3tn
Residential construction
6,673
Building permits
What can construction trends tell you about a state’s economy?
In Maine, non-residential construction was $959.0tn in 2026, which ranks it 3rd out of all 50 US states. Residential construction was $2.3tn in 2026, which places Maine 45th out of all 50 US states. The number of building permits issued in Maine in 2026 was 6,673, representing a -1.0% annualized growth rate between 2021 and 2026.
Trends in the construction sector are important because it creates jobs, income and tax revenue for a state. In addition, construction sector activity impacts other sectors in its supply chain, including manufacturing, wholesaling, warehousing, transportation, and real estate, rental and leasing services. Therefore, construction trends are important indicators of the health of an economy.
You can track trends in the number of building permits issued in Maine, and compare it to trends in the number issued in the United States as a whole, using the chart below.
State economic profile
Maine Population Statistics
Which Counties in Maine have the Largest Populations?
The counties with the highest populations in Maine are Cumberland County, York County and Penobscot County, which had populations of 316,188, 224,168 and 157,689 people in 2026.
| Region | 2026 population | Annual growth 2021-26 | Share of population |
|---|---|---|---|
| Cumberland | 316.2k | 0.6% | 22.2% |
| York | 224.2k | 0.8% | 15.8% |
| Penobscot | 157.7k | 0.5% | 11.1% |
| Kennebec | 129.7k | 0.6% | 9.1% |
| Androscoggin | 115.7k | 0.6% | 8.1% |
| Aroostook | 67.5k | 0.1% | 4.8% |
| Oxford | 61.6k | 0.9% | 4.3% |
| Hancock | 57.0k | 0.3% | 4.0% |
| Somerset | 52.0k | 0.4% | 3.7% |
| Waldo | 41.5k | 0.8% | 2.9% |
| Knox | 41.0k | N/A | 2.9% |
| Sagadahoc | 38.1k | 0.5% | 2.7% |
| Lincoln | 37.4k | 0.8% | 2.6% |
| Washington | 31.9k | 0.4% | 2.2% |
| Franklin | 31.8k | 1.0% | 2.2% |
| Piscataquis | 17.9k | 0.9% | 1.3% |
State economic profile
Maine Demographics
In Maine, 38.1% of the population has a Bachelors or higher. The largest ethnic group in Maine is White, accounting for 90.4% of the state's population.
Education level in Maine
| Education level | Share (%) |
|---|---|
| Bachelors or higher | 38.1 |
| Other | 61.9 |
Race in Maine
| Race | Share (%) |
|---|---|
| White | 90.4 |
| Black | 2.8 |
| Hispanic | 2.6 |
| Other | 2.6 |
| Asian | 1.5 |
Maine State industry reports
IBISWorld State Industry Reports help you quickly understand how an industry performs at the state level compared with the national level, with accurate and unbiased industry information with a local focus. Use this collection to:
- Discover key local industry trends
- Identify threats and opportunities at the subnational level
- Inform your business strategies and planning
See our list of 619 Maine industry reports.
Other states to explore
Compare Maine’s economy with other states in the United States.
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