Producing goods for the world.
The manufacturing and engineering sector came into existence post the industrial revolution of the eighteenth century. This sector is truly the “maker” of consumer goods and even the producer of machinery that is used by other industries.
- Manufacturing and engineering sector roughly contributes to 16% of the world’s GDP (as of 2019).
- The top 5 countries that are the biggest manufacturers in the world are China, USA, Japan, Germany and South Korea.
- Countries with the largest manufacturing sectors show a steady economic growth and development.
- One of the few sectors in the world that has provided steady employment and job security to millions of people over centuries.
- All industries require the support or depend on the output of the manufacturing and engineering sector to produce their goods or services.