U.S. agricultural equipment exports dropped 27% during the first half of 2014 compared to midyear 2013; $4.77 billion in exports were shipped to global markets compared to $6.53 billion at first-half 2013, according to the Association of Equipment Manufacturers (AEM).
The AEM off-road equipment manufacturing trade group produces global trends reports using U.S. Commerce Dept. information to assist members’ business planning.
All world regions experienced declines, from South America with a drop of 8 percent to Asia, with a 35.7% decrease in purchases of U.S.-made agricultural machinery.
At midyear 2014, exports of agricultural machinery to Europe declined 26.9% compared to first-half 2013, for a total $1.21 billion, and exports to Canada dropped 34.3% to total $1.55 billion.
Exports to Asia declined 35.7% to $420.7 million for the first half of 2014. Mid-year exports to Central America decreased 12.5% to $528 million, and exports to South America declined 8% to $528.5 million.
Australia/Oceania’s agricultural equipment export purchases dropped 22% for a total $360.9 million, and Africa took delivery of $168.7 million worth of agricultural equipment, a 23.4% decrease.
The top countries buying U.S.-made agricultural machinery for the first half of 2014
- Canada - $1.55 billion, down 34.3%
- Mexico - $442.6 million, down 15.1%
- Australia - $321.9 million, down 24.9%
- Brazil - $230.1 million, down 11.9%
- China - $208.5 million, down 27.8%
- Germany - $175 million, down 36.2%
- Russia - $154.9 million, down 15.6%
- Ukraine - $144.1 million, down 0.3%
- France - $116.2 million, down 40.8%
- South Africa - $113.6 million, down 27.1%.