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 percent, 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 percent, for a total $1.577 billion.
• Exports to South America declined 33.9 percent, for a total $652.1 million.
• Exports to Asia decreased 7.2 percent, for a total $544.2 million.
• Exports to Europe dropped 34 percent, for a total $463.7 million.
• Exports to Central America decreased 26.7 percent, for a total $451.6 million.
• Exports to Australia/Oceania declined 41 percent to $232.5 million.
• Exports to Africa increased 32.9 percent to $370.3 million.
The top countries buying the most U.S.-made construction machinery during the first quarter of 2014 were: (1) Canada - $1.577 billion, down 8.5 percent; (2) Mexico - $369.9 million, down 27.2 percent; (3) South Africa- $241.5 million, up 103.8 percent; (4) Australia - $217.1 million, down 42.4 percent; (5) Chile - $197.1 million, down 19.1 percent; (6) Brazil - $159.9 million, down 48.1 percent; (7) Peru - $147.1 million, down 24.2 percent; (8) Saudi Arabia - $113 million, up 32.2 percent; (9) China - $107.2 million, down 11.3 percent; (10) Belgium - $98.1 million, down 45.5 percent.
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