Growth slows in U.S. exports of construction equipment
| February 27, 2013 |
After enjoying surges of 43 percent in 2011 and 28 percent in 2010, growth in U.S. exports of construction equipment slowed in 2012 to 13 percent, according to the Association of Equipment Manufacturers.
Construction equipment exports grew to $26.7 billion in 2012. Despite the slowing in growth, things are much better now than they were in 2009 when a 38 percent decline in exports took place in the middle of the recession.
“Exports have been essential to our industry’s rebound as we continue to struggle with uneven U.S. markets,” Al Cervero, AEM vice president and construction sector leader, said in a prepared statement. “With this global slowing and continued domestic market uncertainties, it’s more important than ever for our lawmakers to enact job-creating export and manufacturing policies.”
Exports to Asia grew 2 percent in 2012 to $3.2 billion, while exports to South America rose 6 percent to $4.6 billion. Exports to Central America grew 13 percent to $2.3 billion while exports to Europe grew to $3.2 billion.Exports to Africa rose 14 percent to $1.5 billion.
Exports to Canada increased 12 percent to $8.1 billion, while exports to Australia/Oceania jumped 42 percent to $3.9 billion.
AEM also noted the top 10 export destinations for American-made construction machinery in 2012 by dollar volume:
- Canada – $8.1 billion, up 12 percent
- Australia – $3.8 billion, up 43 percent
- Mexico – $1.8 billion, up 13 percent
- Chile – $1.7 billion, up 25 percent
- South Africa – $894 million, up 31 percent
- Brazil – $886 million, down 7 percent
- Belgium – $806 million, up 43 percent
- Peru – $779 million, up 36 percent
- Russia – $715 million, up 10 percent
- China – $680 million, down 25 percent
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