According to a new report from S&P Global, the liner shipping industry contributes $1.1 trillion to the U.S. gross domestic product (GDP) and supports approximately 6.4 million American jobs.
The recently published analysis by the World Shipping Council (WSC) underlines the crucial role of the liner shipping industry for the US economy.
The report independently quantifies the annual impact of the liner shipping industry – in terms of key metrics such as contribution to GDP, employment, wages, sales activity and government revenue.
The key findings of the report show that the liner shipping industry (container and vehicle carriers):
- Supports 6.4 million U.S. jobs and contributes over $1.1 trillion (USD) to U.S. GDP,
- accounts for 64.4% of U.S. seaborne trade by value, making it the most important mode of maritime transportation for U.S. imports and exports,
- generates nearly $1.5 trillion in U.S. trade annually, including $335 billion in exports and $1.1 trillion in imports,
- generates $262.5 billion in U.S. federal and state tax revenues.
Liner shipping important for domestic production
The report also highlights the important role of liner shipping in US domestic production. 44% of the $490 billion worth of U.S. imports carried by liner vessels are industrial inputs such as components, supplies and raw materials used by American companies. These inputs resulted in an additional $628 billion in U.S. economic output.
Liner shipping calls at over 18,000 ports in the United States, underscoring the industry’s central role in maintaining reliable trade flows and stable supply chains.
