AEM Reports Construction Equipment Exports Still Down

September 7, 2016 - At mid-year 2016, exports of U.S.-made construction equipment were down 24% overall, compared to the first half of 2015, with a total $5.65 billion shipped to global markets.

 

Europe was the sole region with a gain (up 2%), while South America and Africa reported double-digit declines, according to the Association of Equipment Manufacturers (AEM), citing U.S. Department of Commerce data it uses in global market reports for members.

 

Exports by World Region

January-June 2016 U.S. construction equipment exports by major world regions compared to January-June 2015:

• Canada dropped 23%, for a total $2.4 billion
• Europe gained 2%, for a total $898 million
• Central America fell 7%, for a total $696 million
• Asia decreased 28%, for a total $664 million
• South America declined 49%, for a total $504 million
• Australia/Oceania fell 30% to $294 million
• Africa declined 43% to $220 million 

“For the past 14 quarters, U.S. exports of construction equipment have declined year over year, and at the midpoint in 2016, that trend remains unchanged,” said AEM’s Benjamin Duyck, director of market intelligence. “The slowdown in emerging markets and the negative interest rates in several economies’ bond markets, investment is flowing to the U.S. and U.S. stocks, which is driving up demand for the U.S. dollar and inadvertently affecting our competitiveness abroad.”

Exports by Top 10 Countries

The top countries buying the most U.S.-made construction machinery during the first half of 2016 (by dollar volume) were:

1. Canada - $2.4 billion, down 23%
2. Mexico - $561 million, down 7%
3. Australia - $273 million, down 29%
4. Belgium - $204 million, up 39%
5. Germany - $148 million, up 32%
6. Peru - $133 million, down 31%
7. China - $122 million, down 13%
8. Japan - $109 million, up 24%
9. Chile - $108 million, down 60%
10. United Kingdom - $100 million, down 7%

 

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