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.