Top 500 U.S. Manufacturing Firms Had Sales in 2010 of $4.5 Trillion, Greater Than Germany's GDP
IndustryWeek recently released its 2010 annual report for the 500 largest publicly held U.S. manufacturing companies based on revenue. Here are some factoids:
1. The combined sales revenue (including global sales) of the top 500 U.S.-based manufacturing for 2010 was $4.55 trillion. To put that in perspective, that amount of revenue would put that group of U.S. manufacturing companies between the entire $5.4 trillion GDP of Japan in 2010 (world's third largest economy) and the $3.3 trillion GDP of Germany in 2010 (world's fourth largest economy).
2. The top ten largest U.S. manufacturing companies (Exxon, Chevron, GE, Conoco, Ford, H-P, IBM, Proctor and Gamble, ADM and Boeing) had combined revenues of $1.3 trillion, almost as much as Spain's GDP in 2010 of $1.374 trillion.
3. By manufacturing industry, "Computers and Other Electronic Products" (HP, IBM, etc.) was the second largest sector with almost $600 billion of sales behind #1 ranked Petroleum and Coal Products (Exxon, etc.), chemicals (Proctor & Gamble, Dow) was #3 with $387 billion in sales, pharmaceuticals was #5 (Johnson & Johnson, Pfizer, etc.), aerospace and defense was #6 (Boeing, etc.).
And yet don't we hear all the time about the decline of U.S. manufacturing, and how "nothing is made here any more?"