U.S. manufacturing industry revenues in 2020 dropped by -16% compared to 2019, while for 2021 and 2022, growths of 6% and 5% respectively are expected. In contrast, the industry's labor force dropped by -11% in 2020 and is expected to grow at an average annual rate of 4% in 2021-2022.
However, the encouraging data from the manufacturing sector has not positively affected the sector's trade interchange and in particular the imports of Italian mechanics to the US. Regarding industrial machinery and equipment (15 reference sectors Machines Italy), in the first three months of 2021, Italy remains in sixth place among exporting countries to the US. U.S. imports from Italy decreased, again in the first three months of 2021, by -5.5 percent, from 874 million euros in 2020 to 826 million euros today.
The Made in Italy mechanical engineering sectors that showed positive growth in 2021 compared to the same period in 2020 were as follows: ceramic processing machinery (43.36 percent), hydraulic, pneumatic and transmission components (37.58 percent), plastic and rubber processing machinery (10.0 percent), metallurgy/foundry machinery (7.21 percent) and food industry machinery (1.77 percent).
However, the encouraging data from the manufacturing sector has not positively affected the sector's trade interchange and in particular the imports of Italian mechanics to the US. Regarding industrial machinery and equipment (15 reference sectors Machines Italy), in the first three months of 2021, Italy remains in sixth place among exporting countries to the US. U.S. imports from Italy decreased, again in the first three months of 2021, by -5.5 percent, from 874 million euros in 2020 to 826 million euros today.
The Made in Italy mechanical engineering sectors that showed positive growth in 2021 compared to the same period in 2020 were as follows: ceramic processing machinery (43.36 percent), hydraulic, pneumatic and transmission components (37.58 percent), plastic and rubber processing machinery (10.0 percent), metallurgy/foundry machinery (7.21 percent) and food industry machinery (1.77 percent).