STATE OF MANUFACTURING – U.S. Manufacturing
Manufacturing is critical and essential for our quality of life.
by Joe Jackson
Marketing & Events Assistant, PMPA
Published January 1, 2023
Fabricated Metal Products Manufacturing is a subsector of manufacturing that makes critical goods from metal components.
Precision Turned Products Manufacturing is a subsector of fabricated metal product manufacturing that makes the components that MAKE IT WORK!
Annual Economic Output
U.S. Manufacturing
NAICS 31-33
$2,226,200,000,000
Fabricated Metal Product Manufacturing
NAICS 332
$375,880,137,000
Precision Turned Product Manufacturing
NACIS 332721
$20,856,838,000
U.S. MANUFACTURING ACCOUNTS FOR
- 12% of the U.S. total output (GDP)
- 718,796 manufacturing establishments in the U.S
- Jobs: 8.58% of the workforce in the U.S. (12.1 million employees)
- U.S. manufactured goods exports were valued at $1.867 trillion. (this is 18% of the global capacity.)
- Multiplier effect: $1 spent in manufacturing = $2.68 spent in the broad economy.
- Largest manufactured goods sectors that the precision machining industry supplies in the U.S. include food and beverage, computer, electronic and optical products, machinery and equipment, motor vehicles, trailers and semi-trailers, fabricated metal products, electrical equipment and other transport equipment.
In future issues of Production Machining magazine PMPA will analyze the contributions and impacts of manufacturing, fabricated metal products and precision turned products in each state.
Source: WTO.org, NAM.org, IBISworld.com, Brookings.edu, US Census