Biggest Importing Industries in the US in 2022

1. Metal Tank Manufacturing in the US

Imports for 2022: $1.460.9B

The Metal Tank Manufacturing industry has experienced steady decline over the five years to 2022. Revenue rose in 2017, reversing a trend of decline as the price of oil recovered, contributing to revenue growth, before the negative economic impact of the COVID-19 (coronavirus) pandemic pushed revenue down in 2020. Overall, the industry is expected to increase at an annualized rate of 3.4% to $11.0 billion over the five years to 2022, bolstered by an expected decrease 5.9% in 2022 alone as the economy levels out in the wake coronavirus pandemic.

The industry depends on a few key markets to purchase its... Learn More

2. Car & Automobile Manufacturing in the US

Imports for 2022: $154.8B

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

3. Oil Drilling & Gas Extraction in the US

Imports for 2022: $142.3B

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. Domestic production flourished as unconventional and highly efficient drilling techniques such as hydraulic fracturing and horizontal drilling have become upstream mainstays. Following this growth, the economic downturn and supply chain disruptions brought on by the COVID-19 (coronavirus) pandemic caused revenue to... Learn More

4. Brand Name Pharmaceutical Manufacturing in the US

Imports for 2022: $137.0B

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

5. Communication Equipment Manufacturing in the US

Imports for 2022: $118.1B

The Communication Equipment Manufacturing industry produces smartphones, radio and TV broadcasting equipment, satellites, antennas, global positioning system (GPS) equipment and mobile communications equipment. Over the five years to 2022, operators have been exposed to a myriad of challenges and have struggled to maintain the high revenue growth of other technological economic sectors. Since the industry is diverse, certain product segments may perform better than others. However, due to stiff internal and import competition combined with volatility due to COVID-19 (coronavirus), industry revenue is anticipated to rise at a moderate annualized rate of 1.8% to $31.3 billion over the five years... Learn More

6. Computer Manufacturing in the US

Imports for 2022: $109.2B

Over the five years to 2022, the Computer Manufacturing industry declined amid volatility toward the end of the period due to COVID-19 (coronavirus). Still, imports are expected to satisfy 96.9% of domestic demand in 2022. Exports represent 65.6% of revenue in 2022, declining from 74.5% at an annualized rate of 2.2% amid concerns surrounding coronavirus. Industry operators have experienced increased risk related to international trade and the global supply chain due to shutdowns related to coronavirus. Over the five years to 2022, industry revenue is expected to decline at an annualized rate of 0.4% to $10.4 billion. In 2021, revenue... Learn More

7. Petroleum Refining in the US

Imports for 2022: $84.2B

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

8. Nonferrous Metal Refining in the US

Imports for 2022: $64.6B

The Nonferrous Metal Refining industry is highly globalized and closely linked to activity in the construction and manufacturing sectors, along with being heavily influenced by fluctuations in the price of copper and other nonferrous metals, which often reflect cyclical changes in both domestic and global demand. Despite fluctuating demand from downstream markets, the price of copper and nonferrous metals experienced significant increases for the majority of the five years to 2022, which is estimated to have benefited the industry as operators increased selling prices. As a result, industry revenue is expected to rise at an annualized rate of 6.4% to... Learn More

9. Aircraft, Engine & Parts Manufacturing in the US

Imports for 2022: $53.2B

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 over the five years to 2022, 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 declined as demand for air travel drastically fell. Therefore, industry revenue is expected to decrease at an annualized rate of 3.6% to $211.4 billion over the five years... Learn More

10. Medical Instrument & Supply Manufacturing in the US

Imports for 2022: $47.0B

The Medical Instrument and Supply Manufacturing industry has struggled over the five years to 2022 as a result of declines throughout the manufacturing sector. The Healthcare sector endured 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 5.7% dip in industry revenue in 2017 alone. Industry revenue had recovered since 2017 as healthcare expenditure continued to grow over the five years. However, in 2020, the COVID-19 (coronavirus) pandemic resulted in significant revenue declines. While industry products are necessary to treat the virus, many states... Learn More