U.S. Construction Equipment Exports Increase

Exports of U.S.-construction equipment during the first half of 2008 have increased 24-percent compared to the first half of 2007.

A total of more than $10 billion worth of equipment has been shipped to global markets, according to data released by the Association of Equipment Manufacturers (AEM).

All major world regions recorded double-digit growth except Central America, with a 3-percent increase. Africa posted a 59-percent gain followed by South America with an increase of 30 percent. The AEM trade group consolidates U.S. Commerce Department data with other sources into a quarterly global export trends report for members.

Africa purchased $692 million worth of U.S.-made construction equipment, a gain of 59 percent over January-June 2007. South America took delivery of $1.4 billion worth of construction machinery, a 30-percent increase over its 2007 first-half purchases. Exports to Central America totaled $838 million, a gain of 3 percent. 

Exports of construction equipment bound for Asia totaled $1.35 billion, a 16-percent increase compared to the first half of 2008. And exports to Australia/Oceania rose 19 percent to total $856 million for the first half of 2008.

Europe recorded purchases of $1.6 billion dollars worth of construction equipment, a 21-percent gain, and construction machinery exports to Canada increased 28 percent for January-June 2008 and totaled $3.35 billion.

“Exports remain a bright spot for the U.S. construction equipment manufacturing industry in these uncertain times, and whoever is elected president in November needs to focus on passage of free and fair trade agreements that eliminate barriers to commerce across borders,” says AEM Senior Vice President Al Cervero.

“The lack of U.S. infrastructure investment is eroding America’s position as a global economic power as nations around the world substantially increase their commitments to modern transportation networks. In the United States, traffic gridlock is estimated to cost $78 billion dollars a year on the American economy and productivity, in addition to adverse effects on safety and the environment. Federal legislators must take this issue seriously, and invest adequately for current and future needs as part of a longer term comprehensive strategy,” he adds.

More information is available at www.aem.org.