Is the United States still the largest manufacturing nation? Both the World Bank’s data, shown in the figure 39, as well as the United Nations statistics, shown in figure 38, confirm that China comes on top with a share of about 22 percent in 2012 (if you trust the figures from the Chinese government). 

China has exceeded the U.S.’s share in global output around 2009. China’s value added manufacturing share is expanding at a rapid pace while other economies seem to be stagnating or even declining. The U.S. holds the number two spot with a 17.4 percent share compared to China’s number one spot with a 22.4 percent share. Since 2000, the U.S. share has declined by 41 percent while China’s share has grown 210 percent.

However, the U.S. is at the beginning of a possible resurgence in manufacturing.  Companies have been "on-shoring" jobs from overseas as costs rise in East Asia and shale gas drives down the cost of energy in the U.S.  Manufacturing has grown as a percentage of the U.S. economy for three consecutive years and employment has grown for four consecutive years, each for the first time since the early 1960s.

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