Biggest Exporting Industries in the US in 2022

1. Petroleum Refining in the US

Exports for 2022: $88.4B

The Petroleum Refining industry has experienced volatile conditions over the five years to 2021. Crude oil is the primary input cost for refiners, and due to its sensitivity to microeconomic and macroeconomic factors, such as supply and demand and the health of economies domestic and overseas, crude oil is a highly volatile commodity. The US oil and gas production index has increased at an annualized rate of 4.1% over the five years to 2021, contributing to the world price of crude oil only increasing an annualized 6.6% during the same period. Industry revenue is estimated to increase at an annualized... Learn More

2. Oil Drilling & Gas Extraction in the US

Exports for 2022: $85.5B

Fluctuating commodity prices and unstable energy markets have caused the Oil Drilling and Gas Extraction industry to endure an extremely high level of revenue volatility over the five years to 2021. Revenue grew at the outset of the period as the world prices of crude oil and natural gas rebounded off of decade lows fueled by booming US production. Despite hydrocarbon prices having remained far below record highs achieved in 2012 and 2013, domestic production flourished as unconventional drilling techniques such as hydraulic fracturing and horizontal drilling have become more prevalent. These technologies enable operators to access reserves which were... Learn More

3. Aircraft, Engine & Parts Manufacturing in the US

Exports for 2022: $63.2B

The Aircraft, Engine and Parts Manufacturing industry develops and manufactures planes, rotorcraft, engines and related components for the civil and defense markets. After years of growth, the industry's revenue has recently experienced some turbulence, suppressing growth potential. The majority of this reversal was due to slowing defense spending, which reduced US demand for military aircraft and related components. Additionally, amid the COVID-19 (coronavirus) pandemic, industry revenue is expected to significantly decline as demand for air travel drastically shrinks. Therefore, industry revenue is expected to rise at a slow annualized rate of 0.4% to $231.5 billion over the five years to... Learn More

4. Car & Automobile Manufacturing in the US

Exports for 2022: $44.6B

The Car and Automobile Manufacturing industry has had a bumpy road over the five years to 2021. During much of the period, improvements to the economy have helped the auto sector overall. However, declining prices for fuel and crude oil over the past decade have helped bolster demand for trucks and sport utility vehicles at the expense of compact cars and sedans. Furthermore, automakers' response to changing consumer preferences has been to shift production away from industry-relevant vehicles. In 2017, Fiat Chrysler Automobiles NV halted production of cars and sedans in the United States. In 2018, General Motors Company and... Learn More

5. Brand Name Pharmaceutical Manufacturing in the US

Exports for 2022: $43.2B

Over the five years to 2021, the Brand Name Pharmaceutical Manufacturing industry has experienced several new drug launches, with nearly 50 new active substances launched in 2019 alone. According to research by Informa PLC, the number of new drug launches in 2019 was more than double the number launched in 2016, with many new drug launches focusing on rare diseases and oncology. Given increasing price scrutiny, competition from generics, intensifying market competition among brand-name producers and rising research and development (R&D) expenses, many manufacturers have shifted their strategic focus to more lucrative therapy areas, such as rare diseases and oncology.... Learn More

6. Organic Chemical Manufacturing in the US

Exports for 2022: $41.0B

The Organic Chemical Manufacturing industry produces basic organic chemicals, ethyl alcohol and other intermediates that are largely used as key feedstock in downstream manufacturing industries. Producers of plastics, paints, adhesives, pharmaceuticals and gasoline additives commonly use industry goods as base materials in everyday production processes. Accordingly, demand for industry goods is tied to the purchase decisions of durable and nondurable goods manufacturers that use basic organic chemicals. Revenue tends to rise when industrial activity and consumer spending improve, and downstream manufacturers respond to growing demand by purchasing more raw materials in anticipation of greater production. Revenue has been volatile during... Learn More

7. Plastic & Resin Manufacturing in the US

Exports for 2022: $37.6B

The Plastic and Resin Manufacturing industry has experienced volatile revenue and demand for its products over the five years to 2021. This industry, which relies on demand from downstream manufacturers and the construction sector, has struggled from decreased construction and volatile manufacturing activity. Consequently, revenue is expected to increase slowly at an annualized rate of 0.6% to $98.5 billion during the period. In 2020 in particular, industry revenue is expected to decline 14.6% due in part to a decline in the value of nonresidential construction in the same year. The ongoing COVID-19 (coronavirus) outbreak has slowed global productivity, weakening demand... Learn More

8. Natural Gas Liquid Processing

Exports for 2022: $32.5B

Operators in the Natural Gas Liquid Processing industry process raw natural gas by separating out a group of hydrocarbons often called natural gas liquids (NGLs). The industry then supplies these NGLs (mostly ethane, propane, butane, isobutane, pentane plus and natural gasoline) to pipelines for further transportation or directly to wholesalers or end users. Since NGLs are a naturally occurring component of natural gas, NGL production proportionally grows in line with natural gas extraction and processing.

The shale gas boom over the 10 years to 2021, whereby natural gas producers developed methods of extracting natural gas trapped in shale rock formations, has... Learn More

9. Semiconductor & Circuit Manufacturing in the US

Exports for 2022: $30.3B

Semiconductors are a core component of electronics and a vital input of products and services, including computers, TVs, internet providers and telecommunications services. The Semiconductor and Circuit Manufacturing industry is one of the top export industries in the United States, and, according to the Semiconductor Industry Association (SIA), the industry indirectly provides jobs to over 250,000 Americans. The industry's products are a major input for other technologies, leading to diversified markets and heightened demand for semiconductors during most of the period.

Despite strong demand, international competition, aggressive import penetration and a relatively strong US dollar pose threats to the industry.... Learn More

10. Navigational Instrument Manufacturing in the US

Exports for 2022: $28.4B

The Navigational Instrument Manufacturing industry produces a wide range of devices, including search, detection and navigational instruments, appliance regulators and controls, laboratory analytical instruments and physical properties testing equipment. The industry has a diverse clientele, including industries in air-traffic control, shipbuilding, construction, geophysical services and research. This variety of markets shields revenue from extreme fluctuations in downstream demand. Overall, industry revenue has increased at an annualized rate of 3.2% to $132.8 billion over the five years to 2021, including growth of 8.2% in 2021, as the COVID-19 (coronavirus) pandemic gradually gives way to an economic recovery.

Economic growth during most of... Learn More