Exports of U.S.-made construction equipment dropped 17.6 percent for the first three quarters of 2015 compared to January-September 2014, for a total $10.8 billion shipped worldwide.
All world regions experienced declines, led by Africa and South and Central America, according to the Association of Equipment Manufacturers (AEM). The AEM equipment manufacturing trade group cited U.S. Department of Commerce data it uses in global market reports for members.
Exports by World Region
January-September 2015 U.S. construction equipment exports by major world regions compared to January-September 2014:
- Canada dropped 15 percent, for a total $4.4 billion
- South America declined 28 percent, for a total $1.4 billion
- Europe dropped 11 percent, for a total $1.4 billion
- Asia decreased 10 percent, for a total $1.4 billion
- Central America fell 21 percent, for a total $1.1 billion
- Australia/Oceania declined 5 percent to $645 million
- Africa decreased 36 percent to $611 million
AEM Market Analysis Overview
AEM’s Benjamin Duyck, director of market intelligence, provides some insights:
The third quarter of 2015 marked the 11th consecutive quarter that U.S. construction equipment exports experienced year over year declines. According to AEM’s third quarter North American Construction Equipment Industry Conditions Trends Report initial results, 35 percent of survey exporters indicated they experienced a decrease in exports while 50.9 percent of respondents felt the market had remained stable.
Contrary to the second quarter, imports also declined - 5.71 percent year over year. Declining imports is a bigger signal to the U.S. market, especially now that imports are relatively cheaper under the stronger dollar. In the third quarter AEM industry conditions survey, 42.3 percent of respondents indicated U.S. demand for equipment was lower this quarter vs. last year while 30.7 percent felt the market remained stable. For the next 12 months, overall growth is still expected.