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Bright spot for the US economy

Exports of US-made construction equipment increased by 13% to US$26.7billion in 2012, says AEM

EXPORTS of US-made construction equipment exceeded 13% in 2012, compared with the previous year, reaching a total of US$26.7 billion, with South America and Asia reporting the weakest gains, according to the Association of Equipment Manufacturers (AEM).

AEM noted that the 13% gain for 2012 followed 43% growth in 2011 and 28% growth in 2010, after a 38% decline during in the depths of the recession in 2009.

‘Exports have been called a ‘bright spot’ for the US economy, and this has been especially true for construction equipment manufacturers,’ said Al Cervero, AEM vice-president and construction sector leader. ‘Exports have been essential to our industry’s rebound as we continue to struggle with uneven US markets.’

US construction equipment exports to Asia grew by 2%, compared with the previous year, to reach $3.2 billion, while exports to South America increased by 6% to $4.6 billion.

Meanwhile, Central America’s purchases of US construction equipment increased by 13% to $2.3 billion; exports to Europe grew by 13% to $3.2 billion; and exports to Africa increased by 14% to $1.5 billion.

Exports of US construction machinery to Canada increased by 12% to $8.1 billion, and exports to Australia/Oceania jumped by 42% to $3.9 billion.

The top 10 export destinations for US-made construction machinery in 2012, by dollar volume, were:

  1. Canada – $8.1 billion, up 12%
  2. Australia – $3.8 billion, up 43%
  3. Mexico – $1.8 billion, up 13%
  4. Chile – $1.7 billion, up 25%
  5. South Africa – $894 million, up 31%
  6. Brazil – $886 million, down 7%
  7. Belgium – $806 million, up 43%
  8. Peru – $779 million, up 36%
  9. Russia – $715 million, up 10%
  10. China – $680 million, down 25%.

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