Trade group says exports topped $16.4 billion in 2010.
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," says Al Cervero, AEM’s senior vice president. "While these numbers are positive, we have to remember they follow a 2009 decline of more than 38 percent."
Export business to Europe gained 23 percent for a total $1.88 billion; exports to Asia grew 10 percent for a total of $2.2 billion; 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, which dropped 5 percent for $934 million worth of purchases. Construction machinery exports to Canada gained 39 percent and totaled $5.1 billion.
The countries buying the most U.S.-made construction machinery in 2010 were the following:
Canada - $5.1 billion, up 39 percent; Australia - $1.5 billion, up 62 percent; Mexico - $1.2 billion, up 25 percent; Chile - $920 million, up 21 percent; Brazil - $758 million, up 48 percent; Colombia - $588 million, up 50 percent; China - $499 million, up 2 percent; Peru - $437 million, up 37 percent; Belgium - $399 million, up 11 percent; South Africa - $396 million, up 12 percent; Russia - $333 million – up 60 percent; Singapore - $299 million, up 40 percent; Saudi Arabia - $227 million, down 4 percent; Arab Emirates - $197 million, up 38 percent; and Germany - $197 million, up 34 percent.