The market for exports of U.S.-made construction machinery closed out 2010 with a gain of more than 28% compared to the previous year, for a total of $16.4 billion dollars’ worth of equipment sold worldwide, according to the Association of Equipment Manufacturers (AEM). The AEM North American-based international trade group consolidates U.S. Commerce Department data with other sources into a quarterly export trends report.
"Global trade is extremely important to our industry and export sales continue to sustain many companies as we still face a fragile domestic upturn," states AEM Senior Vice President Al Cervero. "While these numbers are positive we have to remember they follow a 2009 decline of more than 38%."
"It's important to pass the pending free-trade agreements with Colombia, Korea and Panama to help manufacturers create more U.S. jobs by selling their products to international buyers," he adds.
Export business to Europe gained 23% for a total $1.88 billion, and exports to Asia grew 10% and totaled $2.2 billion. Construction machinery exports to South America increased 31% in 2010 for a total $3.1 billion; and exports to Central America came in at $1.6 billion, a 24% increase.
The largest gain was to Australia/Oceania with a 66% increase for a total $1.6 billion. The only decline was to Africa with a 5% drop for $934 million worth of purchases. Construction machinery exports to Canada gained 39% and totaled $5.1 billion.
The top countries buying the most U.S.-made construction machinery in 2010 were:
(1) Canada - $5.1 billion, up 39%; (2) Australia - $1.5 billion, up 62%; (3) Mexico - $1.2 billion, up 25%; (4) Chile - $920 million, up 21%; (5) Brazil - $758 million, up 48%; (6) Colombia - $588 million, up 50%; (7) China - $499 million, up 2%; (8) Peru - $437 million, up 37%; (9) Belgium - $399 million, up 11%; (10) South Africa - $396 million, up 12%; (11) Russia - $333 million – up 60%; (12) Singapore - $299 million, up 40%; (13) Saudi Arabia - $227 million, down 4%; (14) Arab Emirates - $197 million, up 38%; (15) Germany - $197 million, up 34%.
