Total U.S. agricultural machinery exports for first quarter 2014 totaled $2.185 billion compared to $3.04 billion in the first quarter of 2013 – a decline of 28.1 percent, according to the Association of Equipment Manufacturers (AEM), citing U.S. Department of Commerce data.
The AEM off-road equipment manufacturing trade group produces global trends reports using Commerce Dept. information to assist members’ business planning. All world regions recorded double-digit declines, led by Asia.
Q1 2014 U.S. agricultural equipment exports by major world regions compared to Q1 2013:
- Exports to Canada declined 30.7 percent, for a total $698.3 million.
- Exports to South America declined 14 percent, for a total $240.3 million.
- Exports to Asia decreased 36.7 percent, for a total $145.6 million.
- Exports to Europe dropped 34 percent, for a total $628.1 million.
- Exports to Central America decreased 17 percent, for a total $256.8 million.
- Exports to Australia/Oceania declined 14.8 percent to $144 million.
- Exports to Africa decreased 23.5 percent to $71.5 million.
The top countries buying the most U.S.-made agricultural machinery during the first quarter of 2014 were: (1) Canada - $698.3 million, down 30.7 percent; (2) Mexico - $225.2 million, down 17.3 percent; (3) Australia - $130.1 million, down 18.3 percent; (4) Russia - $109.9 million, down 9.2 percent; (5) Ukraine - $100.1 million, up 13.6 percent; (6) Brazil - $95.1 million, down 24.3 percent; (7) Germany - $71.8 million, down 54.3 percent; (8) France - $52.2 million, down 51 percent; (9) South Africa - $49.6 million, down 19.2 percent; (10) China - $48 million, down 26.7 percent.
Members may access the Agriculture Global Markets reports (as well as additional global and U.S. market reports) on the association’s website (www.aem.org) in the Market Intelligence section. Nonmembers may purchase the global market reports and select other reports through the AEM store (http://shop.aem.org).