Construction equipment exports down significantly

Exports of U.S.-made construction equipment ended 2015 with a 19 percent decrease compared with 2014, according to the Association of Equipment Manufacturers (AEM), which cites U.S. Department of Commerce data it uses in global market reports for its members.

The decline represents a $13.9 billion year-over-year decrease.

Among the countries buying the most U.S.-made construction machinery in 2015 by dollar volume were Canada ($5.5 billion), Mexico ($1.2 billion), Australia ($829 million) and Belgium ($334 million).

Construction equipment exports to all world regions declined, though. Africa and South America led the way, AEM says. Africa decreased 37 percent compared with year-end 2014 for a total drop of $777 million. South America experienced a 33 percent decline for a $1.7 billion drop.

Canada also experienced a significant decline in U.S. construction equipment exports, dropping 18 percent for a $5.5 billion setback. Asia decreased 10 percent and experienced a $1.8 billion setback. Europe dropped 12 percent for a $1.7 billion hit, and Central America fell 23 percent for a total of $1.5 billion.

In the fourth quarter of 2015, construction machinery exports continued to experience year-over-year declines for the 12th consecutive month, AEM adds. The end of 2015 also marked the third consecutive annual decline. These declines should be considered in the proper context, says Benjamin Duyck, AEM’s director of market intelligence. He adds that exports boomed after the Great Recession and strongly supported the U.S. construction equipment industry.