GITNUX MARKETDATA REPORT 2024

Us Manufacturing Industry Statistics

The US manufacturing industry provides a significant contribution to the national economy in terms of output, employment, and innovation.

In this post, we will explore key statistics surrounding the U.S. manufacturing industry, shedding light on its significant contributions to the economy, its workforce composition, export figures, and sector-specific insights. From the impact of the COVID-19 pandemic to the dominance of sectors like automotive and food manufacturing, these statistics offer a comprehensive overview of this vital economic sector.

Statistic 1

"In 2019, the manufacturing sector contributed $2.3 trillion to the U.S. economy."

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Statistic 2

"Small-sized manufacturers make up 98.6% of all manufacturing firms in the US."

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Statistic 3

"In 2019, manufacturers in the United States exported nearly $692.8 billion in goods to nations around the world."

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Statistic 4

"As of 2019, the manufacturing industry employed 8.51% of the workforce in the US."

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Statistic 5

"The automotive industry is the largest sector in US manufacturing, representing about 3% of U.S. GDP."

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Statistic 6

"In 2020, the COVID-19 pandemic resulted in a 6.3% decrease in manufacturing output."

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Statistic 7

"Food manufacturing is the biggest manufacturing subsector in the US accounting for 15% of manufacturing GDP in 2019."

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Statistic 8

"In 2021 Q2, the capacity utilization for US manufacturing sector was 75.4%, still below the long term average of 78.6%"

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Statistic 9

"The U.S. manufacturers consumed $153 billion worth of energy in 2018."

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Statistic 10

"Manufactured goods accounted for 87.6% of all U.S. private-sector R&D spending in 2018."

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Statistic 11

"In 2021, the PMI (Purchasing Managers Index) for the United States stood at 64.7. PMI value above 50 signifies growth in the manufacturing sector."

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Statistic 12

"In 2019, the average manufacturing worker earned $87,185 annually, including pay and benefits."

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Statistic 13

"In 2018, the manufacturing industry paid $122.3 billion in salaries for sales and marketing positions."

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Statistic 14

"In 2019, there were about 12.2 million employees in US manufacturing sector."

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Statistic 15

"The U.S. chemical industry is the largest in the world with a market value of $760 billion in 2019."

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Statistic 16

"The U.S. manufacturing sector uses 25% of the nation's energy."

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The statistics presented highlight the significant impact of the manufacturing industry on the U.S. economy. From its substantial contribution to the GDP to its role in employment and R&D spending, manufacturing firms, particularly small-sized ones, play a crucial role in driving economic growth and innovation. However, challenges such as the COVID-19 pandemic and fluctuations in output and capacity utilization demonstrate the industry’s vulnerability to external factors. Despite these challenges, the manufacturing sector remains a vital component of the U.S. economy, showcasing resilience and adaptability in the face of various economic uncertainties.

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