This report includes an analysis of the raw economic value of the ocean, and foreshadows the losses we will incur if we continue on our current destructive trajectory. We believe the figures are a vast underestimate, and the economic assets at risk in the ocean are even more substantial than those presented here. The annual "gross marine product" (GMP) – equivalent to a country's annual gross domestic product – is at least US$2.5 trillion; the total "asset" base of the ocean is at least US$24 trillion. Underpinning this value are direct outputs (fishing, aquaculture), services enabled (tourism, education), trade and transportation (coastal and oceanic shipping) and adjacent benefits (carbon sequestration, biotechnology). Putting it into an international context, if the ocean were a country it would have the seventh largest economy in the world. Outputs that are not generated by the ocean per se, such as those from offshore oil and gas or wind energy, were excluded from these estimates, as were assets for which data is not yet available. The analysis did not include valuable intangibles such as the ocean’s role in climate regulation, the production of oxygen, temperature stabilization of our planet, or the spiritual and cultural services the ocean provides. The fact that these additional values are not included in this analysis means that the actual value of the ocean is much higher.