Shipped Goods in U.S. Manufacturing Reaches $5 Trillion in 2006

[Guest Tom Edwards]

The value of goods shipped by manufacturers in the United States, such as computers, clothing and pharmaceuticals, was about $5 trillion in 2006, according to estimates provided by the U.S. Census Bureau. Manufacturing employed nearly 13 million people at an average annual salary of $46,000.

 

The 2006 Annual Survey of Manufactures contains details at the national and state level for activity in the manufacturing industries for 2006 and 2005. Comprised of Statistics for Industry Groups and Industries, Geographic Area Statistics and Value of Product Shipments, the survey provides sample estimates for all manufacturing establishments with one or more paid employees. The data sets are released exclusively through American FactFinder at www.census.gov.

 

Businesses use these numbers for analyzing market trends, forecasting demand for new products and ascertaining market share. They can also determine the average salary and thehourly wage of production workers per industry. Federal, state and local governments use the numbers to track changes in the manufacturing industry and to set policy. The survey is conducted by the Census Bureau in each of the four years between the Economic Census, which takes place in years ending in 2 and 7.

 

Statistics for Industry Groups and Industries looks at manufacturing statistics by industry, showing such details as which industry provides the most jobs and how much is invested in plant and equipment. It contains such primary statistics as employment and payroll numbers, production workers and wages, plant hours, costs of materials, inventories, value added by manufacturers, value of industry shipments and total capital expenditures. Among the top industries by revenue of shipped goods were petroleum refineries, pharmaceuticals, light trucks and utility vehicles, meat processing and printing.

 

Geographic Area Statistics presents similar data at the national and state levels (including the District of Columbia) for industry groups at the three- and four-digit North American Industry Classification System level. These data include employment and payroll figures, estimates of the value of shipments, cost of materials consumed, supplemental labor costs, fuels and electric energy used and inventories by stage of fabrication. Among the top states by value of shipments were Texas, California, Ohio, Illinois, Pennsylvania and Michigan.

 

The Value of Product Shipments data set shows the value of shipments by product class. Gasoline and light fuel oils were among the largest valued product classes, as were light trucks, utility vehicles and automobiles.

 

The manufacturing sector comprises establishments engaged in the mechanical, physical or chemical transformation of materials, substances or components into new products. Establishments that transform materials or substances into new products by hand or in the worker’s home, such as bakeries, candy stores and custom tailors, may also be included in this sector. Establishments are classified into industries based on their principal product or activity as determined by annual value of shipments.