Exports of U.S.-made construction equipment grew 13 percent in 2012 to $26.7 billionWednesday, March 6, 2013
Exports of U.S.-made construction equipment topped 13 percent in 2012 compared to the previous year for a total $26.7 billion, with South America and Asia reporting the weakest gains, according to the Association of Equipment Manufacturers (AEM), citing U.S. Commerce Dept. data it uses in global markets reports for members.
AEM noted that the 13-percent gain for 2012 follows 43-percent growth in 2011 and 28-percent growth in 2010, after a 2009 decline of 38 percent in the depths of the recession.
"Exports have been called a bright spot for the U.S. economy, and this has been especially true for construction equipment manufacturers. Exports have been essential to our industry's rebound as we continue to struggle with uneven U.S. markets," stated Al Cervero, AEM vice president and construction sector leader. "With this global slowing and continued domestic market uncertainties, it's more important than ever for our lawmakers to enact job-creating export and manufacturing policies."
U.S. construction equipment exports to Asia grew 2 percent compared to the previous year for a total $3.2 billion, while exports to South America increased 6 percent to total $4.6 billion.
Central America's purchases of U.S. construction equipment gained 13 percent for a total $2.3 billion; exports to Europe also grew 13 percent, and totaled $3.2 billion; and exports to Africa increased 14 percent to $1.5 billion.
Exports of U.S. construction machinery to Canada gained 12 percent for a total $8.1 billion, and exports to Australia/Oceania jumped 42 percent to total $3.9 billion.
The top 10 export destinations for American-made construction machinery in 2012 by dollar volume: (1) Canada - $8.1 billion, up 12 percent; (2) Australia - $3.8 billion, up 43 percent; (3) Mexico - $1.8 billion, up 13 percent; (4) Chile - $1.7 billion, up 25 percent; (5) South Africa - $894 million, up 31 percent; (6) Brazil - $886 million, down 7 percent; (7) Belgium - $806 million, up 43 percent; (8) Peru - $779 million, up 36 percent; (9) Russia - $715 million, up 10 percent; (10) China - $680 million, down 25 percent.View all Industry News