Construction Machinery Exports Top $17.2 Billion for 2007

The market for exports of U.S.-made construction machinery closed out 2007 with a gain of more than 26 percent compared to the previous year, for a total of $17.2 billion 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.

“This positive export data underscores the importance of global trade to American manufacturers as they face a slowdown in U.S. business, as well as the continued need for free and fair trade across borders. The worldwide demand for infrastructure building has helped the construction equipment industry remain strong,” notes AEM Senior Vice President Al Cervero.

“Countries across the world are committing to infrastructure projects that increase their capability to compete in the global marketplace. The United States also needs to step up infrastructure investment or risk being left behind, especially by emerging markets,” Cervero adds.

Africa, Asia and Europe showed the most growth in their export purchases, and Canada recorded the smallest gains for year-end 2007.

Africa led the way in 2007 with a 67-percent gain in export purchases, for a total of $1.1 billion. Exports to Asia grew 57 percent and totaled $2.4 billion, while Europe took delivery of $2.8 billion of U.S. made equipment, a 50-percent gain compared to 2006.

Export business to Canada showed the smallest growth with an increase of 8.5 percent that totaled $5.5 billion.

More information is available at www.aem.org.