This paper examines the role of exporters in U.S. manufacturing from 1976 to 1987, using detailed plant-level data from the Census Bureau's Annual Survey of Manufactures (ASM). The study finds that exporters are significantly larger, more productive, and pay higher wages compared to non-exporters. Exporters account for a large share of manufacturing activity and exhibit better short-term growth, particularly in terms of employment, output, and labor productivity. However, long-term performance is conditional on the exporting status of the plant, with plants that become exporters growing the most, while those that cease exporting perform poorly. The paper also explores the dynamics of exporting plants, including the impact of foreign demand and exchange rate shocks, and discusses the implications of these findings for trade and industrial policy.This paper examines the role of exporters in U.S. manufacturing from 1976 to 1987, using detailed plant-level data from the Census Bureau's Annual Survey of Manufactures (ASM). The study finds that exporters are significantly larger, more productive, and pay higher wages compared to non-exporters. Exporters account for a large share of manufacturing activity and exhibit better short-term growth, particularly in terms of employment, output, and labor productivity. However, long-term performance is conditional on the exporting status of the plant, with plants that become exporters growing the most, while those that cease exporting perform poorly. The paper also explores the dynamics of exporting plants, including the impact of foreign demand and exchange rate shocks, and discusses the implications of these findings for trade and industrial policy.