Biggest Exporting Industries in the US in 2020

1. Aircraft, Engine & Parts Manufacturing in the US

Exports for 2020: $102.1B

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 falling 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 0.5% to $224.9 billion over the five years to 2020, including a 9.9% decline in... Learn More

2. Petroleum Refining in the US

Exports for 2020: $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. Oil Drilling & Gas Extraction in the US

Exports for 2020: $65.6B

Revenue for the Oil Drilling and Gas Extraction industry has been extremely volatile in recent years, despite rising domestic oil and gas production. Over the five years to 2020, revenue has fluctuated primarily due to substantial swings in commodity prices, including an estimated decline of 47.2% and 40.2% in world crude oil prices and natural gas prices, respectively, in 2015. Input prices moderately recovered halfway through the period before tumbling again in 2019 and 2020 due to global oversupply and sinking demand for oil stemming from the COVID-19 (coronavirus) outbreak. IBISWorld projects industry revenue to decline an annualized 4.6% to... Learn More

4. Brand Name Pharmaceutical Manufacturing in the US

Exports for 2020: $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. Car & Automobile Manufacturing in the US

Exports for 2020: $39.3B

The Car and Automobile Manufacturing industry has experienced bumpy roads 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 and... Learn More

6. Plastic & Resin Manufacturing in the US

Exports for 2020: $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 7.2% to $69.0 billion over the five years to 2020. Additionally, industry revenue is expected to decrease 26.1% in 2020 alone. This steep decline in 2020 is partially due to an expected 18.0% decline in the value of construction... Learn More

7. Organic Chemical Manufacturing in the US

Exports for 2020: $34.0B

The Organic Chemical Manufacturing industry produces basic organic chemicals, ethyl alcohol and other intermediates used as key feedstocks in downstream industries, such as plastic, paint and adhesive manufacturing. Over the five years to 2020, industry revenue is projected to decline an annualized 4.5% to $102.9 billion, including a decline of 13.6% in 2020 alone as the industry experiences significant economic challenges and heightened competition from low-cost foreign substitutes. Industry exports, which constitute a significant portion of industry revenue, have declined over the past five years as lower manufacturing and construction activity from emerging economies led to depressed demand for industry... Learn More

8. Navigational Instrument Manufacturing in the US

Exports for 2020: $27.0B

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 0.4% to $112.7 billion over the five years to 2020, including a decline of 8.3% in 2020 alone.

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

9. Semiconductor & Circuit Manufacturing in the US

Exports for 2020: $27.0B

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

10. Medical Instrument & Supply Manufacturing in the US

Exports for 2020: $26.4B

The Medical Instrument and Supply Manufacturing industry has struggled over the five years to 2020 as a result of declines throughout the manufacturing sector. The Healthcare sector faced uncertainty in 2017, when aspects of the Patient Protection and Affordable Care Act (PPACA) were repealed and health insurance enrollment fell. This resulted in a 6.0% dip in industry revenue. As a result, industry revenue is expected to grow at an annualized rate of only 0.2% to $93.6 billion in 2020. Industry revenue has recovered since 2017 as healthcare expenditure has continued to grow. Additionally, revenue has been further increased by rising... Learn More