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TEMPO.CO, Jakarta – Manufacturing plays a crucial role in the global economy, driving the production of goods that fuel industries, economies, and innovation. Some countries outperform others in the sector, and China is a notable example.
In today’s economy, consumers across the globe may easily find and purchase Chinese products, signifying China’s status as a dominant manufacturing giant. But what makes China the leader in this sector?
This article discusses some of the world’s largest manufacturing countries based on the findings of the World Population Review. Read on to learn more.
1. China
China is currently the largest manufacturing country in the world. World Population Review reports that 31.63% of the total global manufacturing output accounts for the nation’s contribution.
There are several factors leading to China’s supremacy in the global manufacturing industry. Investopedia reveals that cheap labor wages are one of the key factors that successfully bring down the production costs.
In addition to that, the combination of a strong business environment, low taxes and duties, and lax commercial regulations has boosted China’s image as the so-called “World’s Factory” in the global community.
Investopedia also mentions that there is an accusation of the country’s practice of weakening the yuan’s value to attract foreign manufacturers to buy Chinese goods that are a lot cheaper.
2. United States
The U.S. was once the global leader in the manufacturing sector. However, its arch-enemy, China, took over the title in 2010.
Despite this, the U.S. remains significant in the sector, contributing approximately 15.87% to the global manufacturing output. The country primarily excels in the aerospace, automotive, chemicals, and technology industries.
3. Japan
Japan has long been regarded as a nation already living in the future, indicating its robust development in technology. Besides, its focus on quality, efficiency, and innovation has made Japan a key player in the world of manufacturing.
According to the World Population Review, Japan makes up about 6.52% of global manufacturing output. The country is globally recognized for its profound expertise in manufacturing cutting-edge electronics, cars, and computers.
4. Germany
Germany is the fourth-largest manufacturing country in the world, contributing to 4.78% of the total global manufacturing output. Indeed, cars like BMW, Mercedes-Benz, and Volkswagen are from Germany, but this European country also specializes in machinery and chemical sectors.
5. India
While India is widely renowned for its massive population, one should not underestimate its capabilities in the IT workforce. The country is also expanding its presence in the manufacturing sector.
World Population Review notes that India accounts for 2.87% of global manufacturing output. The country’s manufacturing goods include textiles, agricultural products, engineering goods, and chemicals.
6. South Korea
While South Korea gained global popularity for its K-Pop industry, the East Asian country also spread its influence through technology. South Korea is renowned for producing high-quality electronics and automobiles, leading to its dominance in the industry.
Companies like Samsung, Hyundai, and LG have also helped shape South Korea’s presence in the manufacturing industry. The country contributes to around 2.71% of global manufacturing output.
7. Russia
Russia makes up 1.83% of global manufacturing, with a strong emphasis on heavy industries such as aerospace, military, and heavy machinery. Moreover, the country also manufactures energy products given its vast natural resources, particularly oil and gas.
8. Italy
Italy is more than just its culinary delights and panoramic scenery. The country closely follows behind Russia in terms of global manufacturing output, standing at 1.8%, which is equivalent to approximately $284 billion.
Italy mainly exports metal products, clothing and footwear, vehicles, and chemicals.
PETIR GARDA B
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