U.S. Exports Up Significantly

Exports of U.S. agricultural-related equipment to nations around the world topped $5.8 billion dollars for the first half of 2008 compared to mid-year 2007 numbers. That’s an increase of 30.5 percent, according to the Association of Equipment Manufacturers (AEM).

The North American-based international trade group produces a quarterly global markets report for members that consolidates U.S. Commerce Department data.

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Asia and Central America recorded modest gains while all other major world regions reported substantial growth, led by Australia/Oceania and South America.

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Exports to Australia/Oceania grew the most during the first half of 2008, an increase of 94 percent as the region took delivery of $347 million dollars worth of U.S. farm equipment. Exports to South America rose 37 percent, to total $406 million, while Central America purchased $398 million worth of American-made farm machinery, a gain of 8 percent.

Agricultural equipment exports to Europe rose 30 percent for January-June 2008 compared to a year earlier to total $2.6 billion, and exports to Canada were $1.55 billion, an increase of 35 percent. Exports to Asia increased 6 percent to total $398 million, and exports to Africa of U.S.-made farm equipment grew 29 percent and totaled $141 million.

"U.S. exports of farm machinery have been on the upswing for the past several years, and these numbers demonstrate the important and continuing role of exports in maintaining a vital agricultural equipment manufacturing industry," says AEM Vice President Agricultural Services Charlie O’Brien.

The top 10 export destinations for U.S. farm machinery exports for the first half of 2008 were:

  1. Canada — $1.55 billion, up 35 percent
  2. Russia — $456 million, up 63 percent
  3. Germany — $331 million, up 25 percent
  4. Australia — $305.5 million, up 97 percent
  5. Mexico — $305 million, up 9 percent
  6. France — $244 million, up 23 percent
  7. Ukraine — $243 million, up 71 percent
  8. United Kingdom — $233 million, up 25 percent
  9. Belgium — $179 million, down 2 percent
  10. Kazakhstan — $156 million, up 56 percent

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