Biggest Exporting Industries in the US in 2021

1. Oil Drilling & Gas Extraction in the US

Exports for 2021: $85.5B

Over the five years to 2020, the Oil Drilling and Gas Extraction industry has demonstrated an extremely high level of revenue volatility on account of fluctuating commodity prices and unstable energy markets. At the outset of the period, world crude and natural gas prices fell an estimated 47.2% and 34.4%, respectively, as US products flooded global markets. Though prices moderately recovered midway through the period as markets stabilized, recent global business and social restrictions aimed to curb the spread of COVID-19 (coronavirus) have resulted in sinking energy demand and an amassing global energy stockpile. Over the five years to 2020,... Learn More

2. Petroleum Refining in the US

Exports for 2021: $74.8B

The Petroleum Refining industry has experienced volatile conditions over the five years to 2020. 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 5.9% over the five years to 2020, contributing to the world price of crude oil to decline an annualized 7.0% during the same period. Industry revenue is estimated to decrease at an annualized... Learn More

3. Aircraft, Engine & Parts Manufacturing in the US

Exports for 2021: $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 slowed. 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 decline at an annualized rate of 5.8% to $169.4 billion over the five years to 2020, including a 31.9% decline in... Learn More

4. Brand Name Pharmaceutical Manufacturing in the US

Exports for 2021: $45.7B

Over the five years to 2020, the Brand Name Pharmaceutical Manufacturing industry in the United States 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 shifted their strategic focus to more lucrative therapy areas, such as rare... Learn More

5. Organic Chemical Manufacturing in the US

Exports for 2021: $36.6B

The Organic Chemical Manufacturing industry produces basic organic chemicals, ethyl alcohol and other intermediates used as key feedstock in downstream industries, such as plastic, paint and adhesive manufacturing. Over the five years to 2020, industry revenue is estimated to decline at an annualized rate of 7.7% to $85.8 billion. Unfortunate global macroeconomic circumstances due to the ongoing COVID-19 (coronavirus) have adversely affected downstream construction and manufacturing industries. Accordingly, IBISWorld expects industry revenue to fall 26.8% in 2020 alone. Although domestic operators benefited from improving US industrial activity for most of the current period, unfavorable industrial activity in emerging economies and... Learn More

6. Plastic & Resin Manufacturing in the US

Exports for 2021: $34.3B

The Plastic and Resin Manufacturing industry has experienced volatile revenue and demand for its products over the five years to 2020. This industry, which relies on demand from downstream manufacturers and the construction sector, has struggled from decreased construction and manufacturing activity. Furthermore, low product prices have negatively affected revenue. Consequently, revenue is expected to fall at an annualized rate of 7.1% to $69.4 billion during the period. In 2020 in particular, industry revenue is expected to decline 25.7% due in part to an expected 13.6% decline in the value of construction in the same year. The ongoing COVID-19 (coronavirus)... Learn More

7. Car & Automobile Manufacturing in the US

Exports for 2021: $32.8B

The Car and Automobile Manufacturing industry has had a bumpy road over the five years to 2020. 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 light 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... Learn More

8. Semiconductor & Circuit Manufacturing in the US

Exports for 2021: $28.7B

Semiconductors are a core component of electronics and a vital input of products ranging from devices and systems (e.g. computers, cell phones and TVs) to solutions and services (e.g. internet providers, telecommunications and broadcasting 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 demand from many markets. The use of semiconductors in various emerging technologies, such as artificial intelligence and Internet... Learn More

9. Navigational Instrument Manufacturing in the US

Exports for 2021: $25.4B

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 0.6% to $112.7 billion over the five years to 2020, including a decline of 7.5% in 2020 alone.

Economic growth during most of the period bolstered private investment and demand from the private... Learn More

10. Nonferrous Metal Refining in the US

Exports for 2021: $24.7B

The Nonferrous Metal Refining industry is highly globalized and closely linked to activity in the construction and manufacturing sectors, which are the major markets for industry products. Both of these downstream markets have performed strongly with consistent growth over most of the five years to 2020. Additionally, fluctuations in the price of copper and other nonferrous metals often reflect cyclical changes in both domestic and global demand. In addition to shipping refined metal products overseas, industry operators also provide refining services to international clients on a fee basis, which is known as toll processing. Volatile prices and weak demand from... Learn More