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Story perspectives

Midsize Firms: Backbone of U.S. Economy and Trade

2/20/2026

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Story summary
  • Midsize U.S. firms employ 48 million workers and generate about one-third of private-sector GDP.
  • A 2016 survey found 54% export and 48% import.
  • Recent analysis of JPMorgan Chase & Co. transaction data shows midsize firms perform substantial domestic and international payments.
  • The study excluded outliers to ensure data consistency.
  • The study required a minimum transaction activity and notes midsize firms' role in global supply chains amid tariffs.