Industries with the Biggest Decline in Imports Global in 2023

1. Global Fertilizers & Agricultural Chemicals Manufacturing

Decline in Imports for 2023: -11.4%

The Global Fertilizers and Agricultural Chemicals Manufacturing industry produces synthetic fertilizers, pesticides and other agricultural chemicals. Therefore, the industry plays an essential role in ensuring that the world's agricultural production systems are economically efficient in the short term and sustainable in the long term. Industry growth trends are led by three main drivers, which include feed, food and biofuels.

Leading up to the reporting period, fertilizer and agrochemical demand increased in both traditional and emerging markets, where food pressures have led to calls for higher agricultural productivity and crop yields. However, growing commodity prices, particularly in the wake of the COVID-19... Learn More

2. Global Oil & Gas Exploration & Production

Decline in Imports for 2023: -10.3%

Operators in the Global Oil and Gas Exploration and Production industry find and extract crude oil and natural gas from oil and gas reserves across the world. Over the five years to 2022, the prices of crude oil and natural gas have fluctuated despite steady growth in production, which has caused revenue fluctuations. Slowing global demand alongside continually rising supply caused prices to plummet prior to the period and in 2020, before rapid growth in both 2021 and 2022. Overall, industry revenue is forecast to grow an annualized 12.3% to $5.0 trillion over the five years to 2022, including forecast... Learn More

3. Global Coal Mining

Decline in Imports for 2023: -7.0%

Coal mined by the Global Coal Mining industry plays a vital role in the world's ability to generate electricity and manufacture steel. Coal's position in global electricity markets stems from its relative accessibility, affordability and distribution across the globe. The world's largest coal producers are China, the United States and India, with these countries expected to retain their positions for the foreseeable future. Industry revenue is a function of global production of industry products alongside global coal prices, with prices being closely tied to global economic conditions. Over the five years to 2022, prices of thermal and coking coal have... Learn More

4. Global Automobile Engine & Parts Manufacturing

Decline in Imports for 2023: -1.1%

Revenue for the Global Automobile Engine and Parts Manufacturing industry, which produces motor vehicle engines and other engine parts such as valves, crankshafts, camshafts, fuel injectors and pistons, is expected to grow an annualized 1.9% to $375.4 billion over the five years to 2022. Ultimately, the industry is tethered to that of global car production, thus leaving operators vulnerable to a myriad of macroeconomic and political factors that affect the automotive sector in aggregate. During most of the period, an emphasis on engine efficiency and economic growth supported industry expansion. Still, the COVID-19 (coronavirus) pandemic brought industry growth to a... Learn More

5. Global Computer Hardware Manufacturing

Decline in Imports for 2023: -0.7%

The Global Computer Hardware Manufacturing industry produces a range of products, including desktop and laptop personal computers (PCs), computer peripherals and storage devices. Over the five years to 2021, competing trends have defined the industry's performance. Growing competition from tablet devices and mobile phones has eroded demand for traditional PCs worldwide, culminating in a decline in PC shipments globally over the past five years. Furthermore, price competition has limited manufacturers' revenue potential. Ultimately, industry revenue is projected to decline at an annualized rate of 1.6% to $278.8 billion over the five years to 2021, including an increase of 9.4% in... Learn More

6. Global Ship & Boat Building

Decline in Imports for 2023: 0.3%

Over the five years to 2020, the Global Ship and Boat Building industry has operated through unfavorable global economic conditions. Industry players build ships and boats ranging from large container ships and tankers to yachts and speedboats. Nevertheless, an economic downturn due to a commodity price collapse between late 2014 and 2016 and subsequent overcapacity in the industry have led to a collapse in new orders during the period. Consequently, industry backlogs were eventually depleted and production plunged. As a result, industry revenue is expected to fall an annualized 7.8% to $118.6 billion over the five years to 2020.

Despite the... Learn More

7. Global Paper & Pulp Mills

Decline in Imports for 2023: 1.1%

Operators in the Global Paper and Pulp Mills industry produce a variety of pulp and paper products that are then sold to manufacturers of various paper goods across the world. Goods such as paper packaging are ubiquitous across the world for use in facilitating the transfer of goods. The increased digitization of the global economy and growth in internet usage across the globe have cut into demand for newsprint and other forms of paper. However, the industry has benefited from growth in developing economies, such as China, which has increase as a share of the global industry over the five... Learn More

8. Global Respiratory Ventilator Manufacturing

Decline in Imports for 2023: 1.5%

Products produced by the Global Respiratory Ventilator Manufacturing industry have long been a staple of the global healthcare sector. Demand for ventilators has historically been stable since they are a life-saving device for patients with limited breathing function. While hospitals do not usually need a significant number of ventilators, the COVID-19 (coronavirus) pandemic has caused demand for ventilators to skyrocket in 2020. Patients with severe coronavirus symptoms often need to be ventilated because their lungs become so inflamed that they are unable to provide the body with enough oxygen. While ventilation is not always successful, at this stage of the... Learn More

9. Global Semiconductor & Electronic Parts Manufacturing

Decline in Imports for 2023: 1.6%

In the Global Semiconductor and Electronic Parts Manufacturing industry, demand for downstream consumer electronics, automobiles, computers and industrial machinery has risen, as global per capita income and internet connectivity expanded through 2023. However, fluctuating product and input prices have led to volatility, particularly as memory prices plummeted before the pandemic. The industry swelled during the pandemic because of favorable pricing as shortages alongside rising demand for certain electronic goods, like laptops and tablets. Overall, industry revenue will shrink at an expected CAGR of 1.2% to $1.3 trillion through 2023, following poor growth in 2022. The industry will rebound 3.4% in... Learn More

10. Global Bakery Goods Manufacturing

Decline in Imports for 2023: 2.0%

The Global Bakery Goods Manufacturing industry has contracted over the five years to 2021 amid numerous challenges. Demand for bakery products has risen slowly in the mature markets of Western Europe and North America, which has caused manufacturers to seek opportunities in higher growth regions. These, however, have not been enough to offset revenue contraction overall. As a result, IBISWorld anticipates industry revenue to decrease at an annualized rate of 0.2% to $366.9 billion over the five years to 2021. Despite this decline, industry revenue is forecast increase 4.7% in 2021 alone as the global economy recovers from the COVID-19... Learn More