In this piece, we will take a look at the top five shipbuilding countries in the world. For more countries, head on over to Top 15 Shipbuilding Countries in the World.
5. Italian Republic
Percentage of Global Ships Built In 2021: 0.82%
The Italian Republic is a prosperous European country with a $3 trillion GDP and a $51,062 per capita income. Italy is also one of the few global powers in modern day politics. Italy has some of the oldest shipyards in the world, with notable examples being Codecasa and Benetti. Apart from shipbuilding, the ship repair industry also plays an important role in the country, and Italy serves the needs of both domestic and international customers.
4. Republic of the Philippines
Percentage of Global Ships Built In 2021: 1.06%
The Republic of the Philippines is one of the most populous countries in the world and has a $1.1 trillion economy. Since the Philippines is primarily an island nation, it also has an advanced shipbuilding industry. The sector is primarily made up of small and medium enterprises. Shipyards are located all over the country, in both its Northern and Southern regions. Some facilities include the Hanjin Shipyard, Tsuneishi, and Keppel Philippines.
3. Japan
Percentage of Global Ships Built In 2021: 17.6%
Japan is one of the biggest economies in the world as well as one of the most technologically advanced countries that meet the ranks of the U.S. It also has a historic shipbuilding sector and was one of the first countries in the world to have aircraft carriers – which played a crucial role during the second World War. However, like other industries, the shipbuilding sector had to start from scratch, and again, like other sectors in Japan, it quickly recovered and surpassed its pre-war production levels.
2. Republic of Korea
Percentage of Global Ships Built In 2021: 32.4%
The Republic of Korea, or South Korea, is another advanced Asian country known for corporate giants such as Samsung and Daewoo. Some of South Korea’s largest shipbuilders are Hyundai Heavy Industries, Daewoo Shipbuilding, and Samsung Heavy. Additionally, its shipbuilding industry is also one of the most important ones in the world right now, after the Russian invasion of Ukraine. This is because South Korea makes 90% of the world’s liquefied natural gas (LNG) carriers and the fuel is in high demand as Europe weans itself off of cheap Russian gas. This integrality also made the European Union block the merger of Daewoo and Hyundai in 2022.
1. People’s Republic of China
Percentage of Global Ships Built In 2021: 44.2%
The People’s Republic of China is the world’s most populous country and the largest economy in terms of purchasing power parity. China’s shipbuilding industry makes a variety of vessels such as tankers, gas carriers, and container vessels. The largest shipbuilding facilities in the country are government owned.
Disclosure: None. You can also take a look at 10 High Growth Retail Stocks That Are Profitable and 30 Countries with the Highest GDP in 2022.
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