International hunger

News AEM August 28, 2002
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Exports of U

Exports of U.S. construction equipment were on the upswing during second quarter 2002, but still lag behind last year's mid-year totals, according to the Association of Equipment Manufacturers.


U.S. construction machinery manufacturers exported more than $1.65 billion worth of equipment to international markets during the second quarter of this year, a 5.5% gain over first quarter 2002 totals. April-June export totals are 16.5% lower than last year's figures.


The construction equipment manufacturing industry's trade deficit increased during the second quarter, with a trade imbalance of $322 million of imports over exports. There was a $57.5 million deficit for the first quarter.


Exports to Canada, Africa and Australian markets were positive, while exports declined to Asia, Europe and Central and South America.


The strongest numbers were in Canada and Africa. Canada received $565 million worth of construction equipment, a 37% increase over first quarter totals, and Africa's purchases of $66 million also was a 37% rise.


South American markets showed the steepest decline, with mid-year construction equipment purchases of $163.5 million, a 15% drop over first quarter 2002.


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