U.S. exports close out 2004 strong

The market for exports of U.S.-made construction machinery closed out 2004 with a gain of almost 30% compared to the previous year, a total of $8.9 billion worth of equipment sold worldwide, according to the Association of Equipment Manufacturers (AEM). All world regions showed double-digit increases. The AEM international trade group consolidates U.S. Commerce Department data with other sources into a quarterly export trends report.

Exports to Australia/Oceania led the way in 2004 with a 63% gain in 2004 purchases. The region took delivery of $784.5 million worth of U.S.-made construction equipment.

Construction machinery exports to South America increased almost 60% in 2004, with purchases worth $1.1 billion. Asia ranked third in 2004 growth, with exports to the region growing almost 35% to total $1.3 billion.

Exports of construction equipment to Central America improved 21% in 2004 and totaled $801 million. Construction machinery exports to Asia gained 24% in 2004, with purchases worth $355 million.

Europe bought $1.55 billion worth of American-made construction equipment, a 17% gain for 2004, and export business to Canada topped $3 billion in 2004 for a 23% gain.