The Association of Equipment Manufacturers reports farm equipment exports increased 26% in 2008 compared with the previous year. The total value of U.S. exports of ag machinery totaled $10.4 billion.
The first quarter led the year as the strongest time period for exports, which dropped off substantially by the third quarter. The region with the largest percentage growth was Australia/Oceania and was followed by Canada, South American and Europe.U.S. farm equipment exports to Australia/Oceania totaled $794 million dollars, a 59% increase for 2008. Exports to Canada grew 31% in 2008, totaling $2.8 billion dollars. South America took delivery of $888 million dollars worth of American-made agricultural equipment in 2008, a gain of 29%, and exports to Europe increased 23% and totaled $4 billion dollars. Asia bought $793 million dollars worth of U.S. agricultural machinery, a 12% increase, and Central America purchased $813 million dollars, a 13% percent increase. Africa's farm equipment export purchases were $299 million dollars, a gain of 21%.
The AEM trade group consolidates U.S. Commerce Department data for off-road equipment with other sources into quarterly export trend reports.