Press Release Summary:
Association of Equipment Manufacturers (AEM) reports 34% gain in exports of U.S.-made construction machinery in 2006 over 2005. Regions with largest increase were Central America, with 40.5% gain, while South America took in 17% more. Canada bought the most machinery of any country, with 22% increase followed by Australia, Mexico, Chile, Brazil, Belgium, South Africa, Singapore, China, and Columbia.
Original Press Release:
U.S. Exports of Construction Equipment Gain 34 Percent in 2006
Central America is Growth Leader; Declines in Asia and Europe
The market for exports of U.S.-made construction machinery closed out 2006 with a gain of more than 34 percent compared to the previous year, for a total of $13.7 billion worth of equipment sold worldwide, according to the Association of Equipment Manufacturers (AEM). The AEM international trade group consolidates U.S. Commerce Department data with other sources into a quarterly export trends report.
Exports to Central America led the way in 2006 with a 40.5-percent gain in 2006 purchases. The region took delivery of $1.3 billion worth of U.S.-made construction equipment. Construction machinery exports to South America increased almost 17 percent in 2006, with purchases worth $1.9 billion.
Exports of U.S. construction equipment to Canada improved 22 percent in 2006 and totaled $5.0 billion. Construction machinery exports to Africa gained 34 percent in 2006, with purchases worth $640 million. Australia/Oceania took delivery of $1.4 billion of construction equipment from the U.S. in 2006, an increase of 26 percent.
The two world regions showing overall declines for U.S. construction machinery exports were Asia and Europe. Exports to Asia dropped 11 percent in 2006 and totaled $1.5 billion, while U.S. exports of construction equipment to Europe were 12 percent lower than the previous year, for a total of $1.85 billion.
The 10 countries buying the most U.S.-made construction machinery in 2006 were: (1) Canada - $5.0 billion, up 22 percent; (2) Australia - $1.3 billion, up 27 percent; (3) Mexico - $925 million, up 33 percent; (4) Chile - $532 million, up 3 percent; (5) Brazil - $436 million, down 21 percent; (6) Belgium - $364 million, down 45 percent; (7) South Africa - $362 million, up 53 percent; (8) Singapore - $272 million, down 46 percent; (9) China - $266 million, up 12 percent; (10) Colombia - $262 million, up 74 percent.
Association of Equipment Manufacturers