Are you wondering which industries have the highest value of exports globally? Well, by having knowledge of these industries, you’ll be able to figure out which one you should invest in. If you really want to enter the international market, then the following industries are the best ones to pick from.
1. Electrical machinery and equipment (US$2.6 trillion)
When we talk about electrical machinery, it apparently means the technology used to manufacture products. Therefore, countries like India, Japan, the USA and South Korea are the biggest buyers of such products. On the other hand, China is the biggest supplier of quality electrical machinery.
2. Machinery including computers ($2.1 trillion)
When we consider machinery that includes computers and its accessories, we can’t deny the fact that China is the clear cut winner in being the biggest exporter with exports worth over $142.2 billion. Countries like the USA, the UK and India are some of their most usual buyers.
3. Mineral fuels including oil ($1.9 trillion)
Mineral fuels like coal are highly demanded internationally. Over 36% of all coal exports are made from Australia worth over $40.6 billion. While Japan is the biggest buyer of coal. On the other hand, Qatar is the biggest exporter of petroleum gas with exports exceeding $29 billion.
4. Vehicles ($1.4 trillion)
In vehicles, European countries like Germany ($157.4 billion) and the UK ($41.9 billion) are amongst the top five exporters of cars. On the other hand, almost 24% of all cars were bought by the USA. To be precise, they imported cars valued at $179.6 billion.
5. Gems and other precious metals ($620.8 billion)
The most demanded and precious metal and gem in the world are known as gold and diamond. Surprisingly, Switzerland is the best buyer ($69.8 billion) and seller (US$67.9 billion) of gold in the international market. Similarly, the US is the biggest importer ($23.2 billion) and exporter (US$19 billion) of diamond.
6. Plastics ($593.1 billion)
China is responsible for exporting almost 25% of the total global plastic product exports. Their plastic sales are valued at $17.9 billion. In order to meet the international demand for plastic products, China is also the leading country that imports plastic waste to recycle it and produce new goods out of it.
7. Optical, technical and medical apparatus ($578.5 billion)
Out of the $578.5 billion worth of exports, USA, China, Germany and Japan are responsible for most of these exports. If we take a look at buyers then we’d see that China, USA, Germany and Japan are the leading importers in this industry respectively.
8. Pharmaceuticals ($532.7 billion)
Drugs and Medicine is a crucial industry internationally. Germany and Switzerland are the leading exporters of pharmaceutical products. On the other hand, the US import around $65.8 billion worth of drugs and medicines.
9. Organic chemicals ($377.2 billion)
Out of global chemical exports, 13.2% were done by China. These sales valued at $64.8 billion. While the US has proven to be the biggest importers. These chemicals include nucleic acids, acyl halides, hydrocarbon, etc.
10. Iron and steel ($368.7 billion)
Iron and steel are highly demanded in the international market as these metals are being used for making buildings and various other structures. Australia is the biggest exporter of iron ore with a worth of $49.3 billion sold to other nations. While China imports 66% of all the iron ore exported in the international market. On the other hand, UK exports Steel worth of $520.7 million while the US has proven to be the biggest importer. If you want to get involved in any of these industries, sign up on ExportHub today to get access to verified trade directories filled with leading importers and exporters