NIST Releases New Annual Report on U.S. Manufacturing Statistics

The National Institute of Science and Technology (NIST) recently released its annual report on U.S. manufacturing statistics. The purpose of the report is to understand how the U.S. manufacturing industry compares to that of other countries and to identify trends. This year’s report calls attention to the fact that manufacturing is rising rapidly in other nations and identifies areas for the U.S. to become more competitive. Many of the statistics are based on 2020 data, so it is important to consider the impact of COVID-19 when reading the report.
 
“[Manufacturing] employment is still below pre-pandemic levels,” according to the report. “However, there are a substantial number of job openings in manufacturing. If these openings were filled, it would raise employment above pre-pandemic levels and would equate to a 7% increase in manufacturing employment.”
 
Noteworthy items:

• China remains the largest manufacturing nation with 29.4% of global manufacturing value added, while the U.S. is second with 16.6%.
• Chemical manufacturing is the largest manufacturing subsector in the U.S., followed by computer and electronics products.
• The domestic supply chain is also highlighted as an area for the U.S. to increase its competitiveness.

To reference the full report, visit: https://nvlpubs.nist.gov/nistpubs/ams/NIST.AMS.100-42.pdf.