Fifteen Impressive Facts About U.S. Manufacturing
There’s no denying that manufacturing has had a significant and lasting impact on the U.S. economy, and economists agree that the U.S. owes much of its powerhouse status to the manufacturing sector. But to exactly what extent has manufacturing really shaped modern America?
For one thing, we wouldn’t have the tools, technologies or goods that consumers and companies use everyday without manufacturing. Simply defined, manufacturing is the process of transforming raw materials into new products, using mechanical, physical or chemical means. That means the production of everyday items and products like cars, iPhones, and furniture relies on manufacturing, as does the production of machinery and infrastructure that all businesses use to make money.
Without manufacturing, sectors like agriculture, construction and health care wouldn’t have the tools and technologies they need to be profitable and to serve their markets. In that sense, manufacturing really supports the entire U.S. economy in a multitude of important ways.
Of course, there are plenty of other ways that manufacturers have had an impact on the nation, too. The U.S. manufacturing sector contributes trillions of dollars to the total economy, making this single sector economically larger than many individual countries. Manufacturing also creates millions of jobs for workers around the nation, and the need for manufacturing workers is only continuing to grow.
The best part? Manufacturing is becoming more and more productive year after year, thanks to the significant dollar amount it funnels into research and development. In fact, the manufacturing sector is one of the key industries that drives R&D in the U.S.
Still not convinced that manufacturing is the key to the United States’ success? Check out the infographic below to dive into the nitty gritty numbers and statistics behind these 15 impressive facts about U.S. manufacturing.
Infographic courtesy of MP Star Financial
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