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%, 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%, for a total $1.577 billion.
- Exports to South America declined 33.9%, for a total $652.1 million.
- Exports to Asia decreased 7.2%, for a total $544.2 million.
- Exports to Europe dropped 34%, for a total $463.7 million.
- Exports to Central America decreased 26.7%, for a total $451.6 million.
- Exports to Australia/Oceania declined 41% to $232.5 million.
- Exports to Africa increased 32.9% to $370.3 million.
The top countries buying the most U.S.-made construction machinery during the first quarter of 2014 were:
- Canada - $1.577 billion, down 8.5%;
- Mexico - $369.9 million, down 27.2%;
- South Africa- $241.5 million, up 103.8%;
- Australia - $217.1 million, down 42.4%;
- Chile - $197.1 million, down 19.1%;
- Brazil - $159.9 million, down 48.1%;
- Peru - $147.1 million, down 24.2%;
- Saudi Arabia - $113 million, up 32.2%;
- China - $107.2 million, down 11.3%;
- Belgium - $98.1 million, down 45.5%.
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.