The market for exports of U.S.-made construction machinery closed out 2010 with a gain of more than 28 percent compared to the previous year, for a total of $16.4 billion dollars’ worth of equipment sold worldwide, according to the Association of Equipment Manufacturers (AEM). The AEM North American-based international trade group consolidates U.S. Commerce Department data with other sources into a quarterly export trends report.
"Global trade is extremely important to our industry and export sales continue to sustain many companies as we still face a fragile domestic upturn," stated AEM Senior Vice President Al Cervero. "While these numbers are positive we have to remember they follow a 2009 decline of more than 38 percent."
"It's important to pass the pending free-trade agreements with Colombia, Korea and Panama to help manufacturers create more U.S. jobs by selling their products to international buyers," he added.
Export business to Europe gained 23 percent for a total $1.88 billion, and exports to Asia grew 10 percent and totaled $2.2 billion. Construction machinery exports to South America increased 31 percent in 2010 for a total $3.1 billion; and exports to Central America came in at $1.6 billion, a 24-percent increase.
The largest gain was to Australia/Oceania with a 66-percent increase for a total $1.6 billion. The only decline was to Africa with a 5-percent drop for $934 million worth of purchases. Construction machinery exports to Canada gained 39 percent and totaled $5.1 billion.
The top countries buying the most U.S.-made construction machinery in 2010 were:
(1) Canada - $5.1 billion, up 39 percent; (2) Australia - $1.5 billion, up 62 percent; (3) Mexico - $1.2 billion, up 25 percent; (4) Chile - $920 million, up 21 percent; (5) Brazil - $758 million, up 48 percent; (6) Colombia - $588 million, up 50 percent; (7) China - $499 million, up 2 percent; (8) Peru - $437 million, up 37 percent; (9) Belgium - $399 million, up 11 percent; (10) South Africa - $396 million, up 12 percent; (11) Russia - $333 million – up 60 percent; (12) Singapore - $299 million, up 40 percent; (13) Saudi Arabia - $227 million, down 4 percent; (14) Arab Emirates - $197 million, up 38 percent; (15) Germany - $197 million, up 34 percent.