Description
South Korea's Shipbuilding Order Backlog (Cumulative Value) is compiled and published by the Ministry of Trade, Industry, and Energy (MOTIE) of South Korea. This indicator measures the total value of ship orders received but not yet completed in South Korea. It is commonly used to assess current demand and future activity in South Korea's shipbuilding industry. A higher order backlog typically reflects strong demand and potential growth, while a lower backlog may suggest industry downturn.
The shipbuilding order backlog is calculated by accumulating the value of all uncompleted ship orders in South Korea. The statistical scope includes orders for various types of vessels, such as cargo ships, tankers, and passenger ships. The value is usually reported in currency terms (e.g., US dollars).
This data is typically updated monthly, providing insights into the current state of shipbuilding order backlogs.