Ship Exports by Country 2024

When it comes to products that are absolutely key to countless industries worldwide, it doesn’t get much more essential than ships. Not only are ships important forms of transport in and of themselves, but they’re crucial components of the international trade system and world commerce, in general.

However, the actual business of shipbuilding can vary from one country to another. Here’s a look at which countries are the world’s top ship exporters, as well as a few contributing factors that can affect the industry from nation to nation.

Top Ship-Exporting Countries Worldwide

The following countries are among the top shipbuilding and ship-exporting countries in the world as of 2023.

South Korea

With an incredible approximate ship export trade value of $17.7 billion, South Korea is easily the top ship exporter in the world. In fact, South Korean shipbuilding names like Hyundai Heavy Industries, Samsung Heavy Industries, and others are world-famous for their quality workmanship, cutting-edge tech use, and innovative industry approaches.

China

Although China is a long-standing leader when it comes to many different industries, it’s a relatively new player when it comes to the shipbuilding industry. However, its massive manufacturing capacity and economical approach to shipbuilding have granted it a ship export trade value of $15.1 billion.

Japan

With an export trade value of around $10.2 billion, Japan is the world’s third-largest ship-exporting country. Among other advantages, Japan brings its rich shipbuilding background to the table, along with an ironclad reputation for quality, precision, and safety.

Top Japanese shipbuilding companies include Imabari Shipbuilding and Mitsubishi Heavy Industries.

Germany

Germany currently boasts a ship export trade value of $5.5 billion, bringing it smoothly into fourth place. Although its small size may limit its manufacturing capacity, Germany’s emphasis on key values like safety, innovation, and trademark German craftsmanship make it a real industry contender.

Factors Contributing to Ship Exports by Country

Many factors come into play when it comes to a country’s ability to compete in an industry like shipbuilding. Here are a few key examples.

• Tech Advancements: Factors like innovation, cutting-edge precision, and automation have the potential to put even smaller countries on the map when it comes to shipbuilding.
• Cost of Labor: Shipbuilding is a labor-intensive process, so the cost of labor in a given country is a key contributing factor to that country’s success. The more affordable the labor, the better a country will be able to compete
• Political Stability: International relationships both with other countries along the supply chain and with potential buyers can greatly influence a country’s success in the industry.