Global Biggest Importing Industries in 2023

1. Global Oil & Gas Exploration & Production

Imports for 2023: $1,275,2B

Operators in the Global Oil and Gas Exploration and Production industry find and extract crude oil and natural gas from oil and gas reserves across the world. Over the five years to 2022, the prices of crude oil and natural gas have fluctuated despite steady growth in production, which has caused revenue fluctuations. Slowing global demand alongside continually rising supply caused prices to plummet prior to the period and in 2020, before rapid growth in both 2021 and 2022. Overall, industry revenue is forecast to grow an annualized 12.3% to $5.0 trillion over the five years to 2022, including forecast... Learn More

2. Global Pharmaceuticals & Medicine Manufacturing

Imports for 2023: $650,6B

Over the five years to 2022, pharmaceutical manufacturers have benefited from an aging population in developed economies and a growing middle class in emerging economies, which has provided a larger customer base for operators in the Global Pharmaceuticals and Medicine Manufacturing industry. Many manufacturers have also tapped into regional demand for pharmaceuticals that may differ from developed markets and have expanded their global presence to tap into regional market needs and develop relationships with government entities that can accelerate drug approval or implement high reimbursement rates. The outbreak of the COVID-19 (coronavirus) pandemic presented industry operators with new opportunities; however,... Learn More

3. Global Car & Automobile Manufacturing

Imports for 2023: $463,2B

The Global Car and Automobile Manufacturing industry started the five years to 2022 flat out with consumers, business and government spending more than ever on passenger vehicles amid stable macroeconomic growth and historically low interest rates. Significant improvements on the technological front, particularly in regard to hybrid and electric vehicles, internal combustion engine fuel efficiency, infotainment development and autonomous driving capabilities, have also spurred demand from a more affluent private sector for new vehicles. However, the industry was very quickly forced into unfamiliar territory when the COVID-19 pandemic led to a monumental slowdown in demand for and supply of passenger... Learn More

4. Global Apparel Manufacturing

Imports for 2023: $444,6B

Demand for the Global Apparel Manufacturing industry is highly dependent on disposable income and the overall economic well-being of the region in consideration. 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 paramount... Learn More

5. Global Plastic Product & Packaging Manufacturing

Imports for 2023: $401,0B

The Global Plastic Product and Packaging Manufacturing industry has experienced mixed results over the five years to 2023. It has benefited from increasing plastic consumption worldwide, as rising capacity worldwide has resulted in solid growth in overall plastic production. Plastic goods are substituted for materials like wood, paper, metals, and glass, which are often more price competitive while offering better performance. Because of rising consumption and production during most of the current period, industry revenue has been expanding an annualized 2.3%, and is expected to reach $699.3 billion in 2023. This increase in revenue was decelerated by a dramatic drop... Learn More

6. Global Auto Parts & Accessories Manufacturing

Imports for 2023: $364,2B

Revenue for the Global Auto Parts and Accessories Manufacturing industry has decreased at a CAGR of 6.3% over the past five years – including stagnating in 2023 alone – and is expected to total $1.9 trillion in 2023, when profit is set to drop to 5.3%. The auto parts aftermarket has helped generate revenue as average vehicle ages have increased. Demand for this segment tends to rise with the number of vehicles in use, and therefore, as more individuals take to the roads, demand for replacement parts increases.

The problems with the global supply chain due to COVID-19 deeply affected industry... Learn More

7. Global Consumer Electronics Manufacturing

Imports for 2023: $339,2B

Revenue for the Global Consumer Electronics Manufacturing industry is expected to grow at an annualized rate of 1.7% to $1.6 trillion over the five years to 2022, including an increase of 4.6% in 2022 alone. Innovative products, falling prices, growing household incomes and rising consumer sentiment have supported demand for consumer electronics. However, the industry experienced revenue declines in 2020 amid the COVID-19 (coronavirus) pandemic, which caused a decline in global electronics consumption due to disruptive effects on global supply chains and economic activity. Nonetheless, rising consumer spending, the release of new products and the global economic recovery over the... Learn More

8. Global Iron Ore Mining

Imports for 2023: $265,4B

Global iron ore mining performance has been strong through the end of 2023. Industry revenue is a function of global demand conditions and volatility in the world price of iron ore throughout the period has led to several years of double-digit rises. Global iron ore mining revenue has been surging at a CAGR of 8.1% over the past five years and is expected to total $305.1 billion in 2023, when revenue will fall by an estimated 7.1% This five-year overall growth can be mainly attributed to the recovering demand trends after the peak of the COVID-19 pandemic. This rise in... Learn More

9. Global Semiconductor & Electronic Parts Manufacturing

Imports for 2023: $225,9B

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 expanded over the five years to 2023. However, fluctuating product and input prices have led to volatility, particularly as memory prices plummeted before the pandemic. The industry swelled during the pandemic because of favorable pricing as shortages alongside rising demand for certain electronic goods, like laptops and tablets. Overall, industry revenue is anticipated to shrink at an expected CAGR of 1.2% to $1.3 trillion over the five years to 2023, including... Learn More

10. Global Paper & Pulp Mills

Imports for 2023: $190,0B

Operators in the Global Paper and Pulp Mills industry produce a variety of pulp and paper products that are then sold to manufacturers of various paper goods across the world. Goods such as paper packaging are ubiquitous across the world for use in facilitating the transfer of goods. The increased digitization of the global economy and growth in internet usage across the globe have cut into demand for newsprint and other forms of paper. However, the industry has benefited from growth in developing economies, such as China, which has increase as a share of the global industry over the five... Learn More