Around the world, manufacturing plays a vital role in the operations of many companies that focus on products. You may get an idea of the places where other businesses outsource their production needs by looking at this list of the top 10 manufacturing nations in the globe. Based on the latest information provided by the United Nations Statistics Division, the list represents the production of manufactured goods worldwide in 2019.
Make sure to click on the links to find out more about each country as you go through this list to see which ones would be the best for your business. With regard to compliance, taxes, incorporation requirements, HR issues, and other government restrictions, Safeguard Global offers a comprehensive analysis of every nation.
China is one of the oldest civilizations in the world and is located in East Asia. At 1.4 billion people, it is the most populated country in the world. China is one of the greatest locations to conduct business because of its low expenses and entrepreneurial economy.
China accounts for 28.7% of the world’s manufacturing output. In 2019, this constituted about $4 trillion of the nation’s total economic output. Though China has held the top spot for more than a decade, the United States was once the world’s leading manufacturing base. China enjoys an easy 10-percent advantage over the US thanks to cheap labor, a sizable labor force, and high-quality output.
The manufacturing sector in the United States contributed over $2.3 trillion to the GDP in 2018. This sector accounted for half of all exports from the United States and contributed 11.6% of the nation’s overall economic output.
A few corporations have voiced worries about manufacturing in China in light of the latest outbreak. Wuhan was the epicenter of the pandemic, which severely damaged global company production and upset supply lines. This may indicate that businesses may start to spread out their manufacturing facilities across several nations.
With a population of 126.2 million, Japan is an island nation in East Asia located in the northwest Pacific Ocean. Japan is well-known for its animation, handicrafts, food, music, and many more businesses. It also has a rich cultural heritage. Consumer electronics, autos, computers, and metals including iron, steel, and copper are among the main export sectors from this region.
Japan is the third most popular country for manufacturing, with $1 trillion in manufacturing output in 2019. Japan has shown to be a dependable partner for businesses looking to expand and find manufacturing partners, ranking among the top 10 manufacturing nations globally.
Germany, a country of 83 million people, has become one of the top importers and exporters of goods. Germany’s economy encourages free markets in the consumer and business products sectors, which has helped it rise to the top 10 manufacturing nations in recent years.
With $806 billion generated from manufacturing in 2019, Germany is the manufacturing leader in Europe.
India has developed into a trustworthy nation for numerous industries. India, with a population of more than 1.3 billion, has the labor force and financial capacity to move up the list of the top 10 manufacturing nations in the next years.
Despite the fact that they are perhaps more recognized for their customer service or IT workforce assistance, India produced more than $412 billion worth of goods in 2018. India’s manufacturing sector should witness more growth as businesses continue to diversify during their global expansion.
South Korea has become one of the developed countries with the quickest growth rates in the world by emphasizing a high-tech, service-based economy.
The main exports from South Korea are automobiles, electrical equipment, petroleum products, and auto parts and accessories. Petroleum oils, coal, electrical equipment, gas, and hydrocarbons are the principal imports.
Even though Italy is ranked only seventh among the world’s top 10 manufacturing nations, the manufacturing and services sectors play a major role in the country’s economic structure. Italy, home to 60 million people, is regarded as one of the world’s most industrialized nations. They are an excellent place for manufacturing because of their dependable and advanced production sector.
Clothing and footwear, automobiles, and metals and metal products are among Italy’s main exports. In 2018, this sector alone brought $314 billion to the country’s GDP.
France, home to 67 million people, is a major agricultural producer in Europe and a leader in the world market for industrial power. The French federal government provides free essential amenities including healthcare, pension plans, and education to its residents. The World Bank has categorized France as a prosperous and high-income country.
In terms of manufacturing, France leads the world in sectors including luxury products, aerospace, automobiles, railroads, and cosmetics. France’s main exports are automobiles, airplanes, pharmaceuticals, wine, culinary goods, electronics, and petroleum components.
The United Kingdom, a sovereign entity comprising England, Scotland, Wales, and Northern Ireland, is located off the northwest coast of Europe. England’s capital, London, is regarded as one of the greatest business destinations in the world and a major global financial hub. The UK, home to more than 66 million people, is a significant hub for the world economy.
Despite not being their primary industry, manufacturing brought approximately $253 billion to their GDP in 2018. As a result, it ranks among the top manufacturing nations worldwide.
Mineral fuels, mineral oils and products derived from their distillation, mineral waxes, bituminous materials, and fats and oils derived from plants or animals are Indonesia’s principal export goods. Despite being ranked last among the world’s top 10 manufacturing nations, their pace and expansion may allow them to move up the list in the coming years.
With $207 billion coming from the manufacturing sector, Indonesia may try to compete with China or India by advancing this industry.
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