Exports of US-made construction equipment fell -14.9% in first quarter of 2015, compared to the same period last year, according to the US-based Association of Equipment Manufacturers.
Citing US Department of Commerce data, the AEM said equipment worth US$ 3.65 billion was exported in the first quarter, with all regions seeing a fall compared to the first three months of 2014. Most regions saw double-digit declines, apart from Canada and Europe, where the slide was more moderate.
The major export destinations for US-built construction equipment were Canada, for a total of US$ 1.5 billion, down -4.6% on the first quarter of 2014, South America (US$ 483 million, -26%), Asia (US$ 458 million, -15.8%), Europe, US$ 433 million, -6.6%), Central America (US$ 383 million, -15.3%), Australia/Oceania (US$ 179 million, -23%) and Africa (US$ 210 million, -43%).
According to AEM director of market intelligence, Benjamin Duyck, the first quarter of 2015 was the 9th consecutive quarter of year-on-year declines in exports of US construction equipment.
He said this could partially be explained by the stable US market and the strong Dollar, making US equipment manufacturers less competitive on export markets, particularly in the face of a weak Euro.
In terms of individual countries, the major markets for US-built construction equipment in the first quarter of 2015 were:
- Canada - US$ 1.5 billion, down -4.6% on the first quarter of 2014
- Mexico - US$ 310 million, down -16.1%
- Australia - US$ 164 million, down -24.5%
- Brazil - US$ 134 million, down -16.2%
- Chile - US$ 117 million, down -40.8%
- South Africa - US$ 116 million, down -51.8%
- Peru - US$ 102 million, down -30.7%
- Belgium - US$ 73 million, down -25.4%
- China - US$ 70 million, down -34.6%
- South Korea - US$ 65 million, down -10.9%