US equipment exports down –36%

Construction equipment exports from the US totalled US$ 6.4 billion in the first half of the year. This was a -36% reduction from the US$ 10.1 billion achieved in the same period last year according to the US-based Association of Equipment Manufacturers (AEM).

The biggest falls were seen in two of the biggest markets - Europe and Canada. Exports to Europe were down -53% to US$ 777 million, while Canada bought -45% less construction equipment, for a value of US$ 1.8 billion.

The decline in sales to Asia was less pronounced at -30% for a total of US$ 939 million, while Latin American economies were the least affected. Exports to Central America fell -21% to US$ 662 million and sales to South America were down -14% to US$ 1.2 billion.

AEM senior vice president Al Cervero said, "US exports of construction equipment began to erode in the third quarter of 2008 with the worsening global recession. We're an export-intensive industry and the continuing decline is especially detrimental since we're also experiencing steep cuts in domestic business."

The AEM is lobbying US lawmakers to aid the situation by passing free trade agreements and preserve the North Atlantic Free Trade Area (NAFTA), which comprises the Canada, Mexico and the US.

"Other nations are joining in free trade agreements with each other, and we're being left behind," said Mr Cervero.