Italian boat and ship exports exceeded €10bn for the first time in 2025, rising 40% from 2024, according to SACE’s Focus on Blue Economy and Nautical report. Cruise ships and recreational craft each generated €4.4bn of export sales.
The sector includes nearly 1,000 companies and more than 168,000 employees, generating over €13bn in added value. Nautical products account for 1.6% of Italian goods exports and more than a quarter of European nautical exports, with Italy’s share of European recreational-boat exports close to 30%.
Recreational-boat exports increased 2.6%, with sales of vessels over 24 metres rising 11% and exports below 7.5 metres increasing 139%; together, these categories exceeded €2.6bn. Intermediate-sized boats declined 7% and commercial and defence-vessel exports reached almost €1.5bn, up 280%.
Exceptional levels of 2023 and 2024
Cruise-ship exports represented more than 40% of the total, supported by an order book valued at €80bn and delivery cycles averaging about five years.
More than half of the superyachts currently under construction worldwide are being built in Italy, although the global superyacht order book is normalising from the exceptional levels of 2023 and 2024.
The US accounts for about one-third of Italian nautical exports and 66% of cruise-ship sales. Recreational-boat exports are more diversified across the US, UK, Malta, France and Turkey, while Spain receives more than 60% of Italian commercial-vessel exports.
Alternative propulsion
Globally, the shipbuilding order book exceeds US$2tn, with just under half linked to alternative propulsion including LNG, biomethane, ethanol and hydrogen fuel cells. SACE estimates global shipbuilding turnover will approach €400bn in 2026 as fleet renewal and emissions requirements support demand.
For Italian yards, the principal constraint is supply-chain capacity with cruise ships, large yachts and commercial vessels depending on thousands of component, systems and service suppliers. Skills shortages, delayed materials or under-investment by subcontractors can affect delivery schedules and margins.
SACE also identifies energy-price increases and supply disruption as risks to production costs and profitability, pointing out that greater integration between shipyards and suppliers is therefore central to managing complex orders and maintaining competitiveness.
SACE is Italy’s export credit agency, owned by the Ministry of Economy and Finance, specialising in supporting Italian exports.
