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The United States is the world's second-largest manufacturer after the People's Republic of China with a record high real output in 2021 of $2.5 trillion. [2] As of December 2016, the U.S. manufacturing industry employed 12.35 million people. A year later, in December 2017, U.S. manufacturing employment grew by 207,000, or 1.7%, employees. [3]
In 2023, the manufacturing industry in the United States accounted for 10.70% of the total national output, employing 8.41% of the workforce. The total value of manufacturing output reached $2.5 trillion. [66] [67] In 2023, Germany's manufacturing output reached $844.93 billion, marking a 12.25% increase from 2022. The sector employed ...
Manufacturing is an important activity in promoting economic growth and development. Nations that export manufactured products tend to generate higher marginal GDP growth, which supports higher incomes and therefore marginal tax revenue needed to fund such government expenditures as health care and infrastructure .
For example, AT&T's Bell Laboratories spearheaded the American technological revolution with a series of inventions including the light emitting diode , the transistor, the C programming language, and the UNIX computer operating system.
The prohibition of imports under the Embargo Act resulted in the expansion of new, emerging US domestic industries across the board, particularly the textile industry, and marked the beginning of the manufacturing system in the United States, reducing the nation's dependence upon imported manufactured goods. [20] [21]
[2] The motor vehicle component manufacturing industry in the U.S. has experienced robust growth due to an increase in demand and vehicle sales. The stability and highly integrated North American supply chain has also been particularly beneficial to suppliers, contributing to growth in both jobs and investments in the United States. Many ...
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The following outline is provided as an overview of and topical guide to industry: Industry , in economics and economic geography , refers to the production of an economic good or service within an economy .