Executive Briefings

Industrial Machinery Will Be Export-Import Growth Engine for Next 10 Years or So

Industrial machinery is expected to be the top driver of U.S. export and import trade now and in the next decade, according to the latest HSBC Commercial Banking Trade Forecast.

According to the report, U.S industrial machinery exports, which range from large power generating machinery to small parts for domestic electrical items, are expected to account for 21 percent of U.S. export growth this year through 2015, making it the biggest sector contributor to overall U.S. merchandise export growth through 2015.

Further out, industrial machinery is expected to rise to 25 percent of U.S. export growth in 2016 to 2020, and to 26 percent in 2021 to 2030, according to the report.

At the same time, industrial machinery is expected to account for 25 percent of U.S. import growth this year through 2015, according to the report. The report predicts that industrial machinery will decline to 22 percent of U.S. import growth in 2016 to 2020 before inching up again to 23 percent in 2021 to 2030.

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According to the report, U.S industrial machinery exports, which range from large power generating machinery to small parts for domestic electrical items, are expected to account for 21 percent of U.S. export growth this year through 2015, making it the biggest sector contributor to overall U.S. merchandise export growth through 2015.

Further out, industrial machinery is expected to rise to 25 percent of U.S. export growth in 2016 to 2020, and to 26 percent in 2021 to 2030, according to the report.

At the same time, industrial machinery is expected to account for 25 percent of U.S. import growth this year through 2015, according to the report. The report predicts that industrial machinery will decline to 22 percent of U.S. import growth in 2016 to 2020 before inching up again to 23 percent in 2021 to 2030.

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