CONSTRUCTION EQUIPMENT: U.S. machinery exports drop 18.8% in 1Q 2014

Total U.S. construction machinery exports for first quarter 2014 totaled $4.292 billion compared with $5.287 billion in the first quarter of 2013—a drop of 18.8%, according to the Association of Equipment Manufacturers (AEM), citing U.S. Department of Commerce data.

The AEM off-road equipment manufacturing trade group produces global-trends reports using Commerce Department information to assist members’ business planning.

Nearly all world regions recorded high single-digit or double-digit declines, except Africa, which experienced double-digit growth in exports.

Q1 2014 U.S. construction equipment exports by major world regions compared to Q1 2013:

• Exports to Canada declined 8.5%, for a total $1.577 billion;
• Exports to South America declined 33.9%, for a total $652.1 million;
• Exports to Asia decreased 7.2%, for a total $544.2 million;
• Exports to Europe dropped 34%, for a total $463.7 million;
• Exports to Central America decreased 26.7%, for a total $451.6 million;
• Exports to Australia/Oceania declined 41% to $232.5 million; and
• Exports to Africa increased 32.9% to $370.3 million.

The top countries buying the most U.S.-made construction machinery during the first quarter of 2014 were: (1) Canada - $1.577 billion, down 8.5%; (2) Mexico - $369.9 million, down 27.2%; (3) South Africa - $241.5 million, up 103.8%; (4) Australia - $217.1 million, down 42.4%; (5) Chile - $197.1 million, down 19.1%; (6) Brazil - $159.9 million, down 48.1%; (7) Peru - $147.1 million, down 24.2%; (8) Saudi Arabia - $113 million, up 32.2%; (9) China - $107.2 million, down 11.3%; (10) Belgium - $98.1 million, down 45.5%.