U.S. exports of construction equipment drop 21% in first half of year
| August 21, 2013 |
Midway through 2012, the U.S. had shipped $13.7 billion worth of equipment to global markets. At the midway point this year, only $10.8 billion had been shipped.
AEM says nearly all world regions recorded double-digit declines. Central America was the lone bright spot which received 15 percent more equipment worth about $1.2 billion.
Here’s the rest of the world’s regions and how they broke down:
- Exports to Europe fell 20 percent to a total $1.4 billion.
- Exports to Canada fell 15 percent to $3.7 billion.
- Exports to Asia fell 24 percent to $1.2 billion.
- Exports to South America fell 13 percent to $1.9 billion.
- Exports to Australia/Oceania fell 62 percent to $750 million
- Exports to Africa fell 20 percent to $654 million
Canada topped AEM’s list of country’s that bought the most U.S.-made equipment during the first half of the year. Canadians bought $3.7 billion worth, down 15 percent from last year. Mexico was second on that list, buying $1 billion, an increase of 18 percent. Australia rounded out the top three,buying $715 million, a decrease of 63 percent.
And coming in at no. 11, all the way at the bottom, was China, who bought $243 million worth of U.S. equipment in the first half of this year. That number is down 38 percent from last year.
From our partners
Precision Pipeline is an excavating contractor based in Utah and known for doing high-quality, competitively priced work. Although business is…