Mixed fortunes for US machinery exporters
Australia was the third-largest importer of US-made construction machinery during the first half of 2016 (by dollar volume), recording purchases of US$273 million, according to the Association of Equipment Manufacturers (AEM).
However, due to a strong US dollar, this reflected a 29 percent decrease against the corresponding period in 2015. The Australia/Oceania region as a whole recorded a fall of 30 percent to $294 million.
Europe was the sole region in positive figures – up 2 percent to US$898 million – AEM says, citing US Department of Commerce data.
Three countries posted gains in imports of US-made machinery: Belgium up 39 percent to US$204 million, Germany up 32 percent to US$148 million and Japan up 24 percent to US$109 million.
AEM is the North American-based international business group representing the off-road equipment manufacturing industry.
"For the past 14 quarters, US exports of construction equipment have declined year over year and, at the midpoint in 2016, that trend remains unchanged," AEM director of market intelligence Benjamin Duyck says.
"With the global economic malaise, the slowdown in emerging markets and the negative interest rates in several economies’ bond markets, investment is flowing to the US and US stocks, driving up demand for the US dollar and inadvertently affecting our competitiveness abroad."
US exports by world region
January-June 2016 US construction equipment exports by major world regions compared to January-June 2015:
- Canada dropped 23 percent, for a total $2.4 billion
- Europe gained 2 percent, for a total $898 million
- Central America fell 7 percent, for a total $696 million
- Asia decreased 28 percent, for a total $664 million
- South America declined 49 percent, for a total $504 million
- Australia/Oceania fell 30 percent to $294 million
- Africa declined 43 percent to $220 million
US exports by Top 10 countries
The top countries buying the most US-made construction machinery during the first half of 2016 (by dollar volume) were:
- Canada - $2.4 billion, down 23 percent
- Mexico - $561 million, down 7 percent
- Australia - $273 million, down 29 percent
- Belgium - $204 million, up 39 percent
- Germany - $148 million, up 32 percent
- Peru - $133 million, down 31 percent
- China - $122 million, down 13 percent
- Japan - $109 million, up 24 percent
- Chile - $108 million, down 60 percent
- United Kingdom - $100 million, down 7 percent
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