Economy of Asia in the context of "Shipyard"

A shipyard, also called a dockyard or boatyard, is a place where ships are built and repaired. These can be yachts, military vessels, cruise liners or other cargo or passenger ships. Compared to shipyards, which are sometimes more involved with original construction, dockyards are sometimes more linked with maintenance and basing activities. The terms are routinely used interchangeably, in part because the evolution of dockyards and shipyards has often caused them to change or merge roles.

Countries with large shipbuilding industries include Australia, Brazil, Canada, China, Croatia, Denmark, Finland, France, Germany, India, Ireland, Italy, Japan, the Netherlands, Norway, the Philippines, Poland, Romania, Russia, Singapore, South Korea, Spain, Sweden, Taiwan, Turkey, the United Arab Emirates, Ukraine, the United Kingdom, the United States and Vietnam. The shipbuilding industry is more fragmented in Europe than in Asia where countries tend to have fewer, larger companies. Many naval vessels are built or maintained in shipyards owned or operated by the national government or navy.

The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. In 2025, the Philippine economy is estimated to be at ₱28.50 trillion ($497.5 billion), making it the world's 32nd largest by nominal GDP and 9th largest in Asia according to the International Monetary Fund.

The Philippine economy is a service-oriented economy, with relatively more modest contributions from the manufacturing and agriculture sectors. It has experienced significant economic growth and transformation in the past, posting one of the highest GDP growth rates in Asia. With an average annual growth rate of around 6 percent since 2010, the country has emerged as one of the fastest-growing economies in the world. The Philippines is a founding member of the United Nations, Association of Southeast Asian Nations, Asia-Pacific Economic Cooperation, East Asia Summit and the World Trade Organization. The Asian Development Bank (ADB) is headquartered in the Ortigas Center located in the city of Mandaluyong, Metro Manila.