Based on the expert analysis and our database of 1,300+ US industries, IBISWorld presents a list of the Biggest Exporting Industries in the US in 2022
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View a list of the Top 25 biggest exporting industriesExports for 2022: $105.0B
The Petroleum Refining industry has experienced volatile conditions over the five years to 2022. 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 global economies, crude oil is a highly volatile commodity. The US oil and gas production index has increased an annualized 4.0% over the five years to 2022, contributing to the world price of crude oil increasing an annualized 10.1% during the same period. Industry revenue is estimated to rise an annualized 2.6% to $647.1 billion over the five... Learn More
Exports for 2022: $101.9B
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 2022. 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 and highly efficient drilling techniques such as hydraulic fracturing and horizontal drilling have become upstream mainstays. More oil and gas companies have... Learn More
Exports for 2022: $51.4B
Over the five years to 2022, the Brand Name Pharmaceutical Manufacturing industry has experienced several new drug launches, with nearly 50 novel drugs approved in 2021 alone. 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. As a result, many operators pivoted their pipelines to rare diseases, in which low prescription volumes can be offset by high per-unit costs and benefit from orphan drug exclusivity, which grants longer patent exclusivity in... Learn More
Exports for 2022: $44.6B
The Car and Automobile Manufacturing industry has had a bumpy road over the five years to 2022. 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
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
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. However, downstream markets are expected to growth through 2021. Despite this growth, revenue is expected to stagnate at $95.6 billion during the period. During 2020 in particular, industry revenue is expected to decline 3.9% 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 for industry products. However, polyethylene used for packaging, is estimated to generate a greater share of revenue in... Learn More
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
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
Exports for 2022: $29.6B
The Soybean Farming industry has experienced a volatile period over the five years to 2022. Prior to the COVID-19 (coronavirus) pandemic, industry revenue had been driven down by falling exports to China. In 2018, the US and China entered into a trade war brought on by the US imposing tariffs on Chinese steel. The Chinese government responded by placing significant tariffs on US soybeans. China has historically been a major importer of soybeans, so these tariffs resulted in revenue declines for industry growers. However, in 2020, exports of soybeans surged as supply chain disruptions throughout the world created increased demand... Learn More
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 is expected to decrease marginally at an annualized rate of 0.2% to $124.8 billion over the five years to 2022, falling 1.7% in 2022 alone.
Economic growth during most of the period bolstered private investment and demand from the private... Learn More
Based on the expert analysis and our database of 1,300+ US industries, IBISWorld presents a list of the Biggest Industries by Employment in the US in 2022
VIEW ARTICLEBased on the expert analysis and our database of 1,300+ US industries, IBISWorld presents a list of the Biggest Industries By Revenue in the US in 2022
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