Industries with the Biggest Decline in Imports Global in 2023

1. Global Fertilizers & Agricultural Chemicals Manufacturing

Decline in Imports for 2023: -11.4%

The Global Fertilizers and Agricultural Chemicals Manufacturing industry produces synthetic fertilizers, pesticides and other agricultural chemicals. Therefore, the industry plays an essential role in ensuring that the world's agricultural production systems are economically efficient in the short term and sustainable in the long term. Industry growth trends are led by three main drivers, which include feed, food and biofuels.

Leading up to the reporting period, fertilizer and agrochemical demand increased in both traditional and emerging markets, where food pressures have led to calls for higher agricultural productivity and crop yields. However, growing commodity prices, particularly in the wake of the COVID-19... Learn More

2. Global Oil & Gas Exploration & Production

Decline in Imports for 2023: -10.3%

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

3. Global Iron Ore Mining

Decline in Imports for 2023: -8.0%

The Global Iron Ore Mining industry's financial performance has been strong over the five years to 2021. Industry revenue is a function of global demand conditions, and volatility in the world price of iron ore during the period has led to several years of double-digit rises. Due to a slight decrease in global production and increasing demand, industry revenue is projected to increase an annualized 20.1% to $374.6 billion over the five years to 2021, including an estimated rise of 40.8% in 2021 alone. The growth in 2021 can be mainly attributed to the recovering demand trends after the peak... Learn More

4. Global Coal Mining

Decline in Imports for 2023: -7.0%

Coal mined by the Global Coal Mining industry plays a vital role in the world's ability to generate electricity and manufacture steel. Coal's position in global electricity markets stems from its relative accessibility, affordability and distribution across the globe. The world's largest coal producers are China, the United States and India, with these countries expected to retain their positions for the foreseeable future. Industry revenue is a function of global production of industry products alongside global coal prices, with prices being closely tied to global economic conditions. Over the five years to 2022, prices of thermal and coking coal have... Learn More

5. Global Automobile Engine & Parts Manufacturing

Decline in Imports for 2023: -1.1%

Revenue for the Global Automobile Engine and Parts Manufacturing industry, which produces motor vehicle engines and other engine parts such as valves, crankshafts, camshafts, fuel injectors and pistons, is expected to grow an annualized 1.9% to $375.4 billion over the five years to 2022. Ultimately, the industry is tethered to that of global car production, thus leaving operators vulnerable to a myriad of macroeconomic and political factors that affect the automotive sector in aggregate. During most of the period, an emphasis on engine efficiency and economic growth supported industry expansion. Still, the COVID-19 (coronavirus) pandemic brought industry growth to a... Learn More

6. Global Computer Hardware Manufacturing

Decline in Imports for 2023: -0.7%

The Global Computer Hardware Manufacturing industry produces a range of products, including desktop and laptop personal computers (PCs), computer peripherals and storage devices. Over the five years to 2021, competing trends have defined the industry's performance. Growing competition from tablet devices and mobile phones has eroded demand for traditional PCs worldwide, culminating in a decline in PC shipments globally over the past five years. Furthermore, price competition has limited manufacturers' revenue potential. Ultimately, industry revenue is projected to decline at an annualized rate of 1.6% to $278.8 billion over the five years to 2021, including an increase of 9.4% in... Learn More

7. Global Ship & Boat Building

Decline in Imports for 2023: 0.3%

Over the five years to 2020, the Global Ship and Boat Building industry has operated through unfavorable global economic conditions. Industry players build ships and boats ranging from large container ships and tankers to yachts and speedboats. Nevertheless, an economic downturn due to a commodity price collapse between late 2014 and 2016 and subsequent overcapacity in the industry have led to a collapse in new orders during the period. Consequently, industry backlogs were eventually depleted and production plunged. As a result, industry revenue is expected to fall an annualized 7.8% to $118.6 billion over the five years to 2020.

Despite the... Learn More

8. Global Handbag & Purse Manufacturing

Decline in Imports for 2023: 0.4%

Demand for the Global Handbag and Purse Manufacturing industry has decreased over the five years to 2021, as uncertain macroeconomic conditions have caused demand for industry goods to decrease. For instance, since the industry's products are considered discretionary goods, consumers will likely be more reluctant to purchase goods during period of economic uncertainty. Overall, industry revenue is expected to decrease an annualized 2.8% to $152.3 billion over the five years to 2021, including an increase of 5.8% in 2021 alone. The increase in 2021 can be mainly attributed to the expected economic recovery after the COVID-19 (coronavirus) pandemic. As a... Learn More

9. Global Plastic Product & Packaging Manufacturing

Decline in Imports for 2023: 1.0%

The Global Plastic Product and Packaging Manufacturing industry has experienced mixed results over the five years to 2021. 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 during most of the current period, industry revenue is expected to decline an annualized 0.2% to $489.2 billion over the five years to 2021. This... Learn More

10. Global Paper & Pulp Mills

Decline in Imports for 2023: 1.1%

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