The market for exports of U.S.-made construction machinery improved 7.44% in 2003 as manufacturers shipped more than $6.84 billion worth of construction equipment worldwide last year, according to the Association of Equipment Manufacturers (AEM). The improved export business in 2003 follows overall yearly declines of more than 12.75% in 2002 and 5.9% in 2001. The AEM international trade group consolidates U.S. Commerce Department data with other sources into a quarterly export trends report.
Total 2003 construction machinery export business showed gains in most world regions, with declines recorded only for Asia and Central America. In 2002, Asia had been the only market to record year-end growth.
Export of construction equipment to South American markets improved almost 11% in 2003, with the region taking delivery of $681.8 million worth of construction equipment last year. Central American purchases of U.S.-made construction machinery, however, declined almost 3% to total $666 million in 2003.
Construction equipment shipments to Asia totaled $945.8 million in 2003, a drip of 10.6% compared to the previous year.
Exports to Europe totaled $1.33 billion, a 4.5% gain for 2003, and export business to Canada jumped 21.4% to total $2.45 billion worth of construction machinery.
Construction equipment exports to Africa totaled $286 million in 2003, a 15.7% increase over the previous year, while Australia took delivery of $482 million worth of construction machinery in 2003, a gain of 2.5%.
The top 10 export destinations for American-produced construction machinery in 2003 were: Canada ($2.45 billion); Mexico ($492 million); Australia ($451 million); Belgium ($328 million); Chile ($203 million); Brazil ($188 million); Germany ($180.5 million); China ($161 million); South Africa ($150 million); and the United Kingdom ($147 million).
