Virginia Manufacturing Facts
Manufacturers in Virginia account for 8.71% of the total output in the state, employing 6.00% of the workforce. Total output from manufacturing was $44.31 billion in 2017. In addition, there were an average of 240.16 thousand manufacturing employees in Virginia in 2018, with an average annual compensation of $70,244.41 in 2017.
Employment and Compensation
Sources: U.S. Bureau of Economic Analysis and the U.S. Census Bureau
Virginia Export Facts
Manufacturers help to drive Virginia’s economy, with $15.17 billion in manufactured goods exports in 2018. That same year, $6.43 billion in exports was with our free trade agreement (FTA) partners. This helps create jobs in the state, and 20.30% of its employment stemmed from exports in 2011. Small businesses comprised 86.00% percent of all exporters in Virginia.
Sources: International Trade Administration, U.S. Census Bureau
Additional Trade Facts
- The 20 U.S. FTA partners purchased nearly 49 percent ($679.46 billion) of U.S. manufactured goods exports in 2018 – even though these countries represent only six percent of the world’s population and 10 percent of GDP.
- FTA countries: Australia, Bahrain, Canada, Chile, Colombia, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Israel, Jordan, Mexico, Morocco, Nicaragua, Oman, Panama, Peru, Singapore and South Korea.