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U.S. Ag Machinery Exports
Decline 28.1% in 1Q 2014

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%, according to the Assn. 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. 1Q 2014 U.S. agricultural equipment exports by major world regions compared to 1Q 2013:  

  • Exports to Canada declined 30.7%, for a total $698.3 million.
  • Exports to South America declined 14%, for a total $240.3 million.
  • Exports to Asia decreased 36.7%, for a total $145.6 million.
  • Exports to Europe dropped 34%, for a total $628.1 million.
  • Exports to Central America decreased 17%, for a total $256.8 million.
  • Exports to Australia/Oceania declined 14.8% to $144 million.
  • Exports to Africa decreased 23.5% 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%;

2. Mexico — $225.2 million, down 17.3%;

3. Australia — $130.1 million, down 18.3%;

4. Russia — $109.9 million, down 9.2%;

5. Ukraine — $100.1 million, up 13.6%;

6. Brazil — $95.1 million, down 24.3%;

7. Germany — $71.8 million, down 54.3%;

8. France — $52.2 million, down 51%;

9. South Africa — $49.6 million, down 19.2%;

10. China — $48 million, down 26.7%.

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).  

Posted June 10, 2014
COMMENTS: 1
Hmmm
Posted from: tim, 6/11/14 at 8:05 AM CDT
Wonder how many notches are in the mfg's belts, as 'belt tightening' occurs. The painful part is when one has to drill new holes to keep the pants up.
28% plus the domestic decrease = big time issues. No one saw this coming - or at least forecasted these #'s

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