Manufacturing industry analysis suggests that the manufacturing industry has served as the pivotal factor in the economic development of a country. The same applies for the United States Of America, whose economy has been growing rapidly owing to the successful manufacturing industry. Manufacturing industry analysis also indicates that the manufacturing industry provides employment to many thereby contributing to the gross domestic product and per capita income of the country. Approximately 75% of the engineers as well as the scientists get employed in the manufacturing industry as recorded by a manufacturing industry analysis. The Census bureau categorizes a particular manufactured product depending on the primary goods produced by the manufacturing industry.
Statistical data showing the impact of the manufacturing industry on economy:
- In the year 1992, the expenditure incurred on the research and development by the manufacturing establishments was USD$91.2 billion in the United States Of America. Out of this Non Governmental manufacturing establishments registered 79.4% of USD$91.2 billion.
- 18% of GDP or gross domestic product in the year 1993 was due to revenues generated by the manufacturing industry, established according to reports of manufacturing industry analysis.
- 46.4 was the result obtained in order to find out the number of workers employed in every establishment. This figure was registered in the year 1992.
- 15% of shipments in the manufacturing segment was due to the material industry.
- Capital stock has registered a steady rise for all the sectors of the manufacturing industry since 1982.
Employment opportunities in the manufacturing industry has declined comparatively. Manufacturing industry analysis also suggests that in some countries like China, technological know how has to be developed. Despite the fact that China is ranked fourth in the manufacturing productivity, due to technological lacunae, it is not being able to compete in the world market. Also needed are professionals well versed in the technological know how.