U.S. Farm Equipment Exports on the Decline

August 31, 2009 07:00 PM
 

 
Exports of U.S. agricultural equipment dropped 20% during the first half of 2009 compared to midyear 2008, totaling $4.7 billion. This is down from $5.8 billion a year earlier, according to the Association of Equipment Manufacturers (AEM).
 
The steepest declines in American farm machinery exports were to Europe and South America and the smallest drop to Canada, with a slight gain to Australia/Oceania.
·         Exports to Europe decreased 35% to $1.7 billion, and exports to South America dropped 22% to $314 million.
·         Central America's export purchases dropped 19% to total $324 million for January-June 2009 compared to a year earlier, and exports to Asia declined 17% for $331 million.
·         Exports to Canada decreased 1% for a total $1.5 billion, with exports to Africa dropping 6% to $133 million.
·         The only gain was recorded by Australia/Oceania, an increase of 6% for a total $367 million.
 
"Farm machinery exports continue to deteriorate as the global recession adversely affects most world regions, with some areas extremely hard hit by the turmoil in financial markets,” said Charlie O'Brien, AEM vice president of agricultural services. "We do have to remember that exports had been very robust for several years. We need to keep that in perspective when we look at these numbers.”
 
The top countries buying U.S.-made farm machinery for the first half of 2009 were:
1.      Canada - $1.5 billion, down 1%
2.      Australia - $344 million, up 13%
3.      Mexico - $271 million, down 12%
4.      Germany - $232 million, down 30%
5.      France - $226 million, down 8%
6.      United Kingdom - $165 million, down 29%
7.      Belgium - $136 million, down 24%
8.      China - $120 million, up 41%
9.      Russia - $111 million, down 76%
10. Kazakhstan - $102 million, down 35%
11. Brazil - $93 million, down 36%
12. South Africa - $88 million, up 21%
13. Ukraine - $75 million, down 69%
 
                         
For More Information
AEM

More MyMachinery.com News

Back to news

Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close