ASEAN: Shipping Market 2025

Shipping Market Size in ASEAN

In 2021, the ASEAN shipping market decreased by -7.7% to $X for the first time since 2017, thus ending a three-year rising trend. In general, consumption, however, continues to indicate modest growth. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Shipping Production in ASEAN

In value terms, shipping production dropped to $X in 2021 estimated in export price. Overall, production, however, enjoyed slight growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 67%. Over the period under review, production attained the maximum level at $X in 2020, and then fell in the following year.

Shipping Exports

Exports in ASEAN

Shipping exports surged to X units in 2021, rising by 115% against the previous year's figure. Overall, exports, however, saw a abrupt slump. The pace of growth appeared the most rapid in 2019 when exports increased by 862%. Over the period under review, the exports reached the maximum at X units in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, shipping exports surged to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt curtailment. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Singapore (X units) and Vietnam (X units) prevails in exports structure, together comprising 84% of total exports. Thailand (X units) ranks next in terms of the total exports with a 5.9% share, followed by Indonesia (5.2%). Malaysia (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Singapore (with a CAGR of +22.3%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest shipping supplying countries in ASEAN were Singapore ($X), Vietnam ($X) and Indonesia ($X), together comprising 73% of total exports.

Among the main exporting countries, Singapore, with a CAGR of +13.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per unit, increasing by 48% against the previous year. Overall, the export price continues to indicate a pronounced increase. The growth pace was the most rapid in 2017 an increase of 120% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+18.5%), while the other leaders experienced more modest paces of growth.

Shipping Imports

Imports in ASEAN

Shipping imports fell to X units in 2021, waning by -14.9% against the year before. Overall, imports saw a abrupt descent. The most prominent rate of growth was recorded in 2015 when imports increased by 68,453% against the previous year. As a result, imports reached the peak of X units. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, shipping imports surged to $X in 2021. Over the period under review, imports showed a abrupt decrease. The growth pace was the most rapid in 2018 when imports increased by 54% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Singapore (X units) was the key importer of ships, vessels, ferry-boats for the transport of persons, generating 55% of total imports. The Philippines (X units) held the second position in the ranking, followed by Indonesia (X units), Thailand (X units) and Myanmar (X units). All these countries together took near 38% share of total imports. Vietnam (X units) and Cambodia (X units) followed a long way behind the leaders.

Singapore was also the fastest-growing in terms of the ships, vessels, ferry-boats for the transport of persons imports, with a CAGR of +29.7% from 2012 to 2021. At the same time, the Philippines (+14.3%) and Vietnam (+5.2%) displayed positive paces of growth. Myanmar experienced a relatively flat trend pattern. By contrast, Cambodia (-9.7%), Thailand (-14.5%) and Indonesia (-23.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Singapore, the Philippines, Vietnam and Myanmar increased by +52, +13, +2.8 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X), Indonesia ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 71% of total imports. These countries were followed by the Philippines, Singapore, Myanmar and Cambodia, which together accounted for a further 25%.

Cambodia, with a CAGR of +11.4%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2021, surging by 63% against the previous year. Over the period under review, the import price, however, showed a drastic downturn. The pace of growth was the most pronounced in 2016 when the import price increased by 38,302%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+23.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform