America's highest-grossing industries focus on creating and transporting energy and providing consumer goods and services. Consumerism fuels the U.S. economy, and the top-grossing industries reflect the push for mass consumption. The annual listings of the top-10 highest-grossing industries vary, but the main industry categories, such as retail and manufacturing, remain constant. Economic trends, including inflation and recession, reduce industrial earnings, but these financial troubles tend to impact all industries, so the highest-grossing ones continue to hold a position on top of the industry list.
Finance and Insurance
The Department of Commerce groups financial institutions that offer money, credit, securities, insurance and real estate under the industry category of finance and insurance. These industries, despite economic setbacks in 2008, kept a firm footing in the top-10 highest-grossing industries for 2013, according to the Bureau of Economic Analysis.
Durable Goods Manufacturing
Durable goods, a term used to describe items manufactured for use over a long time, such as cars, television sets or farm equipment, held strong in a top-10 position of highest-grossing industries during 2011, 2012, and the first quarter of 2013, according to the Bureau of Economic Analysis. The bureau also noted that durable goods added the largest percentage for overall growth in the American economy for the three years beginning in 2010.
Industries involved in wholesale trade captured a spot on the top-10 highest-grossing list. Wholesale involves selling volumes of goods without any changes or modification to the products. Retailers generally purchase goods for later resale to consumers. Samples of goods sold by wholesalers include food, beverages, mining and publishing, according to the Bureau of Labor Statistics. Fortune Magazine reported Costco Wholesale had $99.1 billion in revenues for 2012 and led firms in this top-10 industry grouping.
Energy and Fuel
Industries involved in producing energy and fuel held top-10 honors marking the highest-grossing American industries. Fortune's 500 top companies in 2013 included energy producers Exxon Mobil, Chevron, Phillips 66, General Electric and Valero Energy among America's largest corporations, taking record revenues in excess of $991 billion during 2012. Fuel and energy producers regularly capture top spots on Fortune's list and typically rank among America's 10 highest-grossing industries.
The retail industry captured the first spot on the top-10 list for highest-grossing industries for 2012, with Fortune reporting Wal-Mart Stores collecting revenues in excess of $469.2 billion during 2012 to lead the retailer pack.
Training and consulting firms and computer software companies make up America's technology industry. Apple earned more than $156 billion in revenues in 2012, capturing a spot on Fortune's list of top-10 companies and helping the industry take a place among the highest-grossing industries, with $156.5 billion in revenues during 2012.
The construction industry's position on the top-10 grossing industry list declines in revenues with economic downturns, but the industry proved resilient and rebounded in 2013 to earn a top-10 spot for highest grosses. Construction includes firms producing building goods and companies involved in the building trades for residential, industrial and commercial construction.
Telephone, cable and Internet providers rounded out the 10 highest-grossing industry list. Fortune reported AT&T taking in $127.4 billion in revenues, Verizon Communications with $115.8 billion and Comcast recording $62.6 billion in revenues for 2012. These firms collectively helped the communication industry reach the top-10 grossers for 2012.
- U.S. Bureau of Economic Analysis: Durable Goods Manufacturing Led Growth in 2012
- Fortune Magazine: Fortune 500 -- 2013
- U.S. Bureau of Economic Analysis: National Income and Product Accounts
- U.S. Bureau of Labor Statistics: Industries at a Glance -- Wholesale Trade
- U.S. Department of Commerce: Banking, Finance, and Insurance
- Jupiterimages/Brand X Pictures/Getty Images