Global Biggest Importing Industries in 2020

1. Global Oil & Gas Exploration & Production

Imports for 2020: $2,006,0B

Operators in the Global Oil and Gas Exploration and Production industry find and extract crude oil and natural gas from oil and gas reserves throughout the world. Over the five years to 2019, the prices of crude oil and natural gas have fluctuated sharply despite steady growth in production, and this has caused wild revenue fluctuations. Prices rose significantly in the years leading up to the reporting period, peaking in 2012. Slowing global demand alongside continually rising supply caused prices to plummet in 2015 and 2016, although they have since recovered. Overall, declining prices have cut into profit margins and... Learn More

2. Global Car & Automobile Manufacturing

Imports for 2020: $776,3B

Over the five years to 2019, revenue for the Global Car and Automobile Manufacturing industry is expected to accelerate, bolstered by improving economic conditions. In addition to positive economic trends, industry demand has been lifted by significant improvements on the technological front, particularly in regard to vehicle fuel efficiency, entertainment and autonomous driving capabilities. Automakers have gradually put a greater emphasis on increasing fuel efficiency in light of stricter regulatory requirements and consumer demand. Plus, internet connectivity, advances in safety features and navigation capabilities are becoming staples of automobiles worldwide, facilitating an increase in the average price of cars in... Learn More

3. Global Apparel Manufacturing

Imports for 2020: $521,7B

Demand for the Global Apparel Manufacturing industry is highly dependent on disposable income and the overall economic well-being of the region in consideration. Generally, over the past decade, the industry has benefited from an increasing number of consumers opting to buy more garments at lower prices, driving both industry revenue and profit. This trend has been sustained by significant offshoring of apparel manufacturing from industry establishments in developed countries to developing economies, which has significantly lowered production costs, reducing the overall price of apparel and making apparel products increasingly affordable to an expanding consumer base. Consequently, international trade is of... Learn More

4. Global Pharmaceuticals & Medicine Manufacturing

Imports for 2020: $514,0B

Over the five years to 2019, pharmaceutical manufacturers have benefited from an aging population in developed economies and a growing middle class in emerging economies, which provided a larger customer base for operators in the Global Pharmaceuticals and Medicine Manufacturing industry. Many manufacturers also tapped into regional demand for pharmaceuticals that may differ from developed markets. Furthermore, the growing global middle class provides additional growth opportunities, given increased access to pharmaceutical products and higher per capita expenditure on medicines. To address global demand, many pharmaceutical manufacturers now include relevant populations from emerging markets into their clinical trials, thus streamlining the... Learn More

5. Global Plastic Product & Packaging Manufacturing

Imports for 2020: $474,3B

The Global Plastic Product and Packaging Manufacturing industry has experienced mixed results over the five years to 2019. It has benefited from increasing consumption of plastic across the world, as rising capacity worldwide has resulted in strong growth in overall plastic production. Plastic goods are substituted for a variety of materials such as wood, paper, metals and glass, as it is often more price competitive while offering better performance. However, despite rising consumption and production, industry revenue is expected to decline at an annualized rate of 0.7%, totaling $578.1 billion over the five years to 2019. This decline has been... Learn More

6. Global Auto Parts & Accessories Manufacturing

Imports for 2020: $426,9B

Over the five years to 2019, the Global Auto Parts and Accessories Manufacturing industry is expected to benefit from improving global economic conditions. Per capita income levels have climbed across the globe and the burgeoning middle classes in emerging economies have looked to purchase their own cars. As demand for new automobiles has risen, original equipment manufacturers have demanded more components from industry operators. Additionally, the auto parts aftermarket has helped generate revenue as average vehicle ages moved higher. Demand for this segment tends to rise with the number of vehicles in use, therefore, as more individuals take to the... Learn More

7. Global Consumer Electronics Manufacturing

Imports for 2020: $351,8B

The Global Consumer Electronics Manufacturing industry is expected to grow at an annualized rate of 1.9% to $1.4 trillion over the five years to 2019, including a 3.8% increase in 2019 alone. The past five years have been characterized by growth in emerging markets and the introduction of new products, leading to more people buying consumer electronics. Innovative products, falling prices, growing household incomes and rising consumer sentiment have supported demand for consumer electronics. Still, many industry products have approached market saturation, leading to price competition and downward pressure on profit margins across the industry. Meanwhile, consumers have been spending... Learn More

8. Global Commercial Aircraft Manufacturing

Imports for 2020: $240,3B

The Global Commercial Aircraft Manufacturing industry has expanded modestly over the five years to 2019. Industry operators design, manufacture, overhaul and rebuild planes, helicopters, aircraft engines and various aircraft components and subsystems for the commercial and civil markets. The industry primarily depends on downstream demand from airlines, which make up the bulk of the major markets for operators. As a result, the global growth of disposable income has driven major growth in demand for air travel, which has fomented investment in new aircraft to fulfill demand. This has been the chief driver of industry revenue during the period. Production of... Learn More

9. Global Household Cooking & Appliance Manufacturing

Imports for 2020: $190,7B

Buoyed primarily from rising demand for industry products among developing economies, the Global Household Cooking and Appliance Manufacturing industry is projected to expand at an annualized rate of 3.0% to reach $466.7 billion over the five years to 2019. Even as global economic growth remained tepid early in the period, rising incomes and expanding access to electricity in Asia, Latin America and Africa supported demand for industry products. Furthermore, IBISWorld projects industry revenue to finish the current period with a 1.6% growth in 2019.

Rising consumer spending and increasing per capita income levels in developed economies and rapid economic growth in... Learn More

10. Global Semiconductor & Electronic Parts Manufacturing

Imports for 2020: $190,3B

In the Global Semiconductor and Electronic Parts Manufacturing industry, demand for downstream consumer electronics, automobiles, computers and industrial machinery has risen, as global per capita income and internet connectivity increased over the five years to 2019. However, fluctuating product and input prices have led to oscillations in industry revenue, resulting in revenue declining in 2016, only to recover in 2017 and 2018 as memory prices soared and then sharply falling in 2019. As a result, this supported an uptick in industry profit. Overall, industry revenue is expected to increase at an annualized rate of 0.2% to $755.1 billion over the... Learn More