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The Bureau of Economic Analysis estimates that Maine's total gross state product for 2007 was US$48 billion.[18] Its per capita personal income for 2007 was US$33,991, 34th in the nation.

Maine's agricultural outputs include poultry, eggs, dairy products, cattle, wild blueberries (the state produces 25% of all blueberries in North America, making it the largest blueberry producer in the world), apples, maple syrup and maple sugar. Aroostook County is known for its potato crops. Commercial fishing, once a mainstay of the state's economy, maintains a presence, particularly lobstering and groundfishing. Western Maine aquifers and springs are a major source of bottled water. Maine's industrial outputs consist chiefly of paper, lumber and wood products, electronic equipment, leather products, food products, textiles, and bio-technology. Naval shipbuilding and construction remain key as well, with Bath Iron Works in Bath and Portsmouth Naval Shipyard in Kittery. Naval Air Station Brunswick is also in Maine, and serves as a large support base for the U.S. Navy. However, the BRAC campaign recommended Brunswick's closing, despite a recent government-funded effort to upgrade its facilities.

Tourism and outdoor recreation play a major and increasingly important role in Maine's economy. The state is a popular destination for sport hunting (particularly deer, moose and bear), sport fishing, snowmobiling, skiing, boating, camping and hiking, among other activities. Maine's unemployment rate is 4.8%

Maine ports play a key role in national transportation. Beginning around 1880, Portland's rail link and ice-free port made it Canada's principal winter port, until the aggressive development of Halifax, Nova Scotia, in the mid-1900s. In 2001, Maine's largest city of Portland surpassed Boston as New England's busiest port (by tonnage), due to its ability to handle large tankers. Maine's Portland International Jetport was recently expanded, providing the state with increased air traffic from carriers such as JetBlue.

Maine has very few large companies that maintain headquarters in the state, and fewer than before due to consolidations and mergers, particularly in the pulp and paper industry. Some of the larger companies that do maintain headquarters in Maine include Fairchild Semiconductor in South Portland; IDEXX Laboratories, in Westbrook; Unum, in Portland; TD Banknorth, in Portland; L.L. Bean in Freeport; Cole Haan and Delorme, both located in Yarmouth. Maine is also the home of The Jackson Laboratory, the world's largest non-profit mammalian genetic research facility and the world's largest supplier of genetically purebred mice.

Maine has a longstanding tradition of being home to many shipbuilding companies. In the 18th and 19th centuries, Maine was home to many shipyards that produced wooden sailing ships. The main function of these ships was to transport either cargoes or passengers overseas. One of these yards was located in Pennellville Historic District in what is now Brunswick, Maine. This yard, owned by the Pennell family, was typical of the many family-owned shipbuilding companies of the time period. Other such examples of shipbuilding families were the Skofields and the Morses. During the 18th and 19th ceunturies, wooden shipbuilding of this sort made up a sizable portion of the economy.

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