Two Contributions Shipping Industry Makes to Economic Growth

Since the era of trade began, shipping lines have been a significant influence on economic growth, prosperity, and important communication between regions.

Throughout the ages, the rich have boasted of fashions and delicacies from faraway lands, which has encouraged countries across the globe to exchanged ideas, luxuries and consumer goods. With the ongoing investment in global trade, today's shipping companies continue to travel the world's trade routes, transporting (slightly) more than 90 percent of the world's container cargo.

While so much has changed in the shipping industry over the past few decades, it is worth reflecting upon two very important contributions this sector makes, as well as the good investment opportunities it provides.

1. Bringing Products, Produce and Prosperity

Currently, the top five shipping companies in the world maintain a container fleet of more than 8.67 million Twenty Foot Equivalent (TEU) shipping containers. This fleet moves a majority of the world’s consumer goods and produce.

In fact, the merchandise delivered by container ships accounts for an estimated $15 trillion worth of goods, annually. The United States is responsible for $5.6 trillion alone.

2. Brings nations together

Shipping is one of the activities nations must consistently work on together in order for the world economy to work well. As goods come in and out of each other’s countries, logistics and resources from many nations, become tied together.

Furthermore, intent upon ensuring the security of their people and the delivery of products, officials from regions around the world get together to ensure that the worlds' nation-states can work together; productively. Take the International Maritime Organization (IMO) as an example. This United Nations based organization works with shipping companies to help them increase their commitment to the environment, as well as creating a joint set of rule for every maritime nation.

Final Thought.

Since the early days of transportation and trade, the shipping industry has maintained a powerful influence in the world's economy. It is not only the goods that it delivers to shipping ports around the world, but also the culture and the communication it shares.