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 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," stated AEM Senior Vice President Al Cervero. "While these numbers are positive we have to remember they follow a 2009 decline of more than 38 percent. It's important to pass the pending free-trade agreements with Colombia, Korea and Panama to help manufacturers create more U.S. jobs by selling their products to international buyers."
Export business to Europe gained 23 percent for a total $1.88 billion, and exports to Asia grew 10 percent and totaled $2.2 billion. Construction machinery 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 with a 5-percent drop for $934 million worth of purchases. Construction machinery exports to Canada gained 39 percent and totaled $5.1 billion.
The top countries buying the most U.S.-made construction machinery in 2010 were:
1. Canada - $5.1 billion, up 39 percent.
2. Australia - $1.5 billion, up 62 percent.
3. Mexico - $1.2 billion, up 25 percent.
4. Chile - $920 million, up 21 percent.
5. Brazil - $758 million, up 48 percent.
6. Colombia - $588 million, up 50 percent.
7. China - $499 million, up 2 percent.
8. Peru - $437 million, up 37 percent.
9. Belgium - $399 million, up 11 percent.
10. South Africa - $396 million, up 12 percent.
11. Russia - $333 million – up 60 percent.
12. Singapore - $299 million, up 40 percent.
13. Saudi Arabia - $227 million, down 4 percent.
14. Arab Emirates - $197 million, up 38 percent.
15. Germany - $197 million, up 34 percent.