In 2023, the shipbuilding order volume in South Korea amounted to a little over 10 million CGT. This was a decrease from around 15.6 million CGT in the previous year. Due to the scale of production and other factors such as competition, shipbuilding orders showed a cyclical tendency over the years.
Navigating the storm
The shipbuilding industry appears to be recovering from difficult situations in recent years, with volatile oil prices and fluctuations in demand setting a challenging business climate. Nevertheless, a rebound in the order backlog for South Korean shipbuilders provides cause for optimism. However, such difficulties have had its toll on the shipbuilding workforce, which continues to post record lows regarding the number of employees.
On the rise
Despite unfavorable market conditions, the domestic shipbuilding industry reported an increase in its trade balance. Home to a trio of leading ship manufacturers and many smaller companies, South Korea’s shipbuilding industry has mostly relied on exporting completed vessels to customers around the globe. Exports from the shipbuilding industry are seemingly on the up again, although figures are a far cry from the decade of abundance experienced from the late 2000s to 2010s.
Volume of new shipbuilding orders in South Korea from 2000 to 2023
(in million CGT)
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Statistics Korea. (February 16, 2024). Volume of new shipbuilding orders in South Korea from 2000 to 2023 (in million CGT) [Graph]. In Statista. Retrieved December 13, 2024, from https://www.statista.com/statistics/650488/south-korea-ship-building-orders/
Statistics Korea. "Volume of new shipbuilding orders in South Korea from 2000 to 2023 (in million CGT)." Chart. February 16, 2024. Statista. Accessed December 13, 2024. https://www.statista.com/statistics/650488/south-korea-ship-building-orders/
Statistics Korea. (2024). Volume of new shipbuilding orders in South Korea from 2000 to 2023 (in million CGT). Statista. Statista Inc.. Accessed: December 13, 2024. https://www.statista.com/statistics/650488/south-korea-ship-building-orders/
Statistics Korea. "Volume of New Shipbuilding Orders in South Korea from 2000 to 2023 (in Million Cgt)." Statista, Statista Inc., 16 Feb 2024, https://www.statista.com/statistics/650488/south-korea-ship-building-orders/
Statistics Korea, Volume of new shipbuilding orders in South Korea from 2000 to 2023 (in million CGT) Statista, https://www.statista.com/statistics/650488/south-korea-ship-building-orders/ (last visited December 13, 2024)
Volume of new shipbuilding orders in South Korea from 2000 to 2023 (in million CGT) [Graph], Statistics Korea, February 16, 2024. [Online]. Available: https://www.statista.com/statistics/650488/south-korea-ship-building-orders/