diff --git a/packages/compiler-cli/ngcc/src/host/umd_host.ts b/packages/compiler-cli/ngcc/src/host/umd_host.ts
index b39f28ade3..e074f28b03 100644
--- a/packages/compiler-cli/ngcc/src/host/umd_host.ts
+++ b/packages/compiler-cli/ngcc/src/host/umd_host.ts
@@ -114,9 +114,7 @@ export class UmdReflectionHost extends Esm5ReflectionHost {
     for (const statement of this.getModuleStatements(sourceFile)) {
       if (isUmdExportStatement(statement)) {
         const declaration = this.extractUmdExportDeclaration(statement);
-        if (declaration !== null) {
-          moduleMap.set(declaration.name, declaration.declaration);
-        }
+        moduleMap.set(declaration.name, declaration.declaration);
       } else if (isReexportStatement(statement)) {
         const reexports = this.extractUmdReexports(statement, sourceFile);
         for (const reexport of reexports) {
@@ -127,16 +125,22 @@ export class UmdReflectionHost extends Esm5ReflectionHost {
     return moduleMap;
   }
 
-  private extractUmdExportDeclaration(statement: UmdExportStatement): UmdExportDeclaration|null {
+  private extractUmdExportDeclaration(statement: UmdExportStatement): UmdExportDeclaration {
     const exportExpression = statement.expression.right;
-    const name = statement.expression.left.name.text;
-
     const declaration = this.getDeclarationOfExpression(exportExpression);
-    if (declaration === null) {
-      return null;
+    const name = statement.expression.left.name.text;
+    if (declaration !== null) {
+      return {name, declaration};
+    } else {
+      return {
+        name,
+        declaration: {
+          node: null,
+          expression: exportExpression,
+          viaModule: null,
+        },
+      };
     }
-
-    return {name, declaration};
   }
 
   private extractUmdReexports(statement: ReexportStatement, containingFile: ts.SourceFile):
diff --git a/packages/compiler-cli/ngcc/test/host/umd_host_spec.ts b/packages/compiler-cli/ngcc/test/host/umd_host_spec.ts
index c07aa72183..695503d298 100644
--- a/packages/compiler-cli/ngcc/test/host/umd_host_spec.ts
+++ b/packages/compiler-cli/ngcc/test/host/umd_host_spec.ts
@@ -10,7 +10,7 @@ import * as ts from 'typescript';
 
 import {absoluteFrom, getFileSystem, getSourceFileOrError} from '../../../src/ngtsc/file_system';
 import {TestFile, runInEachFileSystem} from '../../../src/ngtsc/file_system/testing';
-import {ClassMemberKind, CtorParameter, Import, isNamedClassDeclaration, isNamedFunctionDeclaration, isNamedVariableDeclaration} from '../../../src/ngtsc/reflection';
+import {ClassMemberKind, CtorParameter, Import, InlineDeclaration, isNamedClassDeclaration, isNamedFunctionDeclaration, isNamedVariableDeclaration} from '../../../src/ngtsc/reflection';
 import {getDeclaration} from '../../../src/ngtsc/testing';
 import {loadFakeCore, loadTestFiles} from '../../../test/helpers';
 import {getIifeBody} from '../../src/host/esm5_host';
@@ -30,6 +30,7 @@ runInEachFileSystem(() => {
     let SIMPLE_ES2015_CLASS_FILE: TestFile;
     let SIMPLE_CLASS_FILE: TestFile;
     let FOO_FUNCTION_FILE: TestFile;
+    let INLINE_EXPORT_FILE: TestFile;
     let INVALID_DECORATORS_FILE: TestFile;
     let INVALID_DECORATOR_ARGS_FILE: TestFile;
     let INVALID_PROP_DECORATORS_FILE: TestFile;
@@ -212,6 +213,23 @@ runInEachFileSystem(() => {
 })));`,
       };
 
+      INLINE_EXPORT_FILE = {
+        name: _('/inline_export.js'),
+        contents: `
+(function (global, factory) {
+  typeof exports === 'object' && typeof module !== 'undefined' ? factory(exports, require('@angular/core')) :
+  typeof define === 'function' && define.amd ? define('foo_function', ['exports', '@angular/core'], factory) :
+  (factory(global.inline_export,global.ng.core));
+}(this, (function (exports,core) { 'use strict';
+  function foo() {}
+  foo.decorators = [
+    { type: core.Directive, args: [{ selector: '[ignored]' },] }
+  ];
+  exports.directives = [foo];
+})));
+`,
+      };
+
       INVALID_DECORATORS_FILE = {
         name: _('/invalid_decorators.js'),
         contents: `
@@ -1874,6 +1892,20 @@ __export(xtra_module);
             ]);
       });
 
+      it('should handle inline exports', () => {
+        loadFakeCore(getFileSystem());
+        loadTestFiles([INLINE_EXPORT_FILE]);
+        const bundle = makeTestBundleProgram(INLINE_EXPORT_FILE.name);
+        const host = new UmdReflectionHost(new MockLogger(), false, bundle);
+        const file = getSourceFileOrError(bundle.program, INLINE_EXPORT_FILE.name);
+        const exportDeclarations = host.getExportsOfModule(file);
+        expect(exportDeclarations).not.toBe(null);
+        const decl = exportDeclarations !.get('directives') as InlineDeclaration;
+        expect(decl).not.toBeUndefined();
+        expect(decl.node).toBeNull();
+        expect(decl.expression).toBeDefined();
+      });
+
       // Currently we do not support UMD versions of `export * from 'x';`
       // because it gets compiled to something like:
       //