U.S. Construction Machinery Exports Drop in 2014 Q1
Jun 11, 2014
Total U.S. construction machinery exports for first quarter 2014 totaled $4.292 billion compared to $5.287 billion in the first quarter of 2013 – a drop of 18.8 percent, according to the Association of Equipment Manufacturers (AEM), citing U.S. Department of Commerce data.
The AEM off-road equipment manufacturing trade group produces global trends reports using Commerce Dept. information to assist members’ business planning.
Nearly all world regions recorded high single-digit or double-digit declines, except Africa, which experienced double-digit growth in exports.
Q1 2014 U.S. construction equipment exports by major world regions compared to Q1 2013:
• Exports to Canada declined 8.5 percent, for a total $1.577 billion.
• Exports to South America declined 33.9 percent, for a total $652.1 million.
• Exports to Asia decreased 7.2 percent, for a total $544.2 million.
• Exports to Europe dropped 34 percent, for a total $463.7 million.
• Exports to Central America decreased 26.7 percent, for a total $451.6 million.
• Exports to Australia/Oceania declined 41 percent to $232.5 million.
• Exports to Africa increased 32.9 percent to $370.3 million.
The top countries buying the most U.S.-made construction machinery during the first quarter of 2014 were: (1) Canada - $1.577 billion, down 8.5 percent; (2) Mexico - $369.9 million, down 27.2 percent; (3) South Africa- $241.5 million, up 103.8 percent; (4) Australia - $217.1 million, down 42.4 percent; (5) Chile - $197.1 million, down 19.1 percent; (6) Brazil - $159.9 million, down 48.1 percent; (7) Peru - $147.1 million, down 24.2 percent; (8) Saudi Arabia - $113 million, up 32.2 percent; (9) China - $107.2 million, down 11.3 percent; (10) Belgium - $98.1 million, down 45.5 percent.
AEM members may access the Construction Global Markets reports (as well as additional global and U.S. market reports) on the association’s website (www.aem.org) in the Market Intelligence section. Non-members may purchase the global market reports and select other reports through the AEM store (http://shop.aem.org).
Source: Construction Equipment Guide