Exports of construction equipment from the United States increased 20 percent in 2008 for a total of more than $20.7 billion, according to an industry report.
South America and Asia led in the purchase of American-made construction machinery, said the Association of Equipment Manufacturers.
“Global trade, especially to emerging markets, was a mainstay of our resurgence in recent years,” said AEM Senior Vice President Al Cervero. “Obviously the situation is much different today. Our industry sector, as with the manufacturing community overall, has been devastated by the abrupt downturn in 2008. These export results were helped by trading terms such as letters of credit, which kept goods in the delivery pipeline.”
Exports of construction equipment to South America increased 44 percent in 2008 for a total of $3.3 billion. Africa purchased $1.4 billion worth of U.S. construction equipment, an increase of 29 percent. American manufacturers sold $3 billion worth of construction equipment in Asia, up 25 percent from a year earlier.
Exports to Central America grew 19 percent in 2008, for a total of $2 billion. Construction machinery exports to Canada increased 13 percent for a total of $6.2 billion. Exports to Australia/Oceania grew 14 percent, to $1.8 billion dollars. Exports to Europe gained 11 percent with purchases of $3 billion in 2008.