Industrial steel products in the US were valued at $1.7 trillion in 2017, up 11% from 2016, according to data from the US Department of Commerce.
The steel industry is still the top export sector, but it is now second to the automotive industry, which was valued at an estimated $4.6 trillion in the same period.
The US is currently the world’s largest steel producer.
Industrial steel prices have risen sharply over the last year, but they are still far below the peak prices seen in 2016, when steel prices shot up to a record high.
The recent spike in steel prices has led many to question the continued success of the industry.
Read more about steel:Industrial capacity in the United StatesThe US steel sector accounts for about half of the total US industrial capacity.
The U.S. industry was able to keep production at a high level thanks to a number of factors, including its robust economy and strong government support, according the US Steel Association.
The United States exported more steel than any other nation in the world, the association said.
In 2018, the US surpassed China to become the world leader in steel production, with more than 1.2 million tons of steel producing capacity.
However, steel production in China is still at a historical low.
According to the US Bureau of Labor Statistics, the average annual value of steel produced in the U.s. in 2018 was $10.5 billion, up $4 billion from 2017.
But that number is likely understated as the data is incomplete, according a Reuters analysis.
The US steel production grew by 5% in 2018, and the country was the world second largest steel exporter, according, according.
The United States also exports its own steel to China.
The International Trade Commission, the trade body of the United Nations, estimates that China exports about $2.6 billion worth of steel to the U, the United Kingdom and the European Union every year.