Exports of US-made construction machinery revive in first-quarter 2003
Jul 1, 2003 12:00 PM
Exports of United States-made construction machinery showed gains for first-quarter 2003 after closing out last year with double-digit declines. Manufacturers shipped $1.65 billion worth of equipment to global markets January-March 2003, a gain of 3.9% over the previous quarter and an increase of 5.1% compared with the same quarter in 2002, according to the Association of Equipment Manufacturers (AEM).
South and Central America markets continued to lag, although South America rebounded somewhat. Construction machinery exports to Central America for first-quarter 2003 were $153 million, a decline of 15.4% from the previous quarter and a 12.7% drop compared with purchases a year ago. While exports of construction equipment to South America rose 7.7% over the previous quarter to total $141 million, this figure was 26.5% less than exports to the region for first-quarter 2002.
Exports to Asia for first-quarter 2003 declined after overall growth for 2002. Asia took delivery of $247 million worth of construction equipment, a 9.9% drop over the previous quarter and a decline of 9.3% compared with the same quarter in 2002.
Exports to Canada remained strong with first-quarter purchases of $587 million, a 12.2% gain over the previous quarter and a 42.3% gain over the same time period in 2002. First-quarter 2003 exports to Europe of $331 million were 13.2% more than exports the previous quarter but 4.7% lower than first-quarter 2002 shipments.
Australia/Oceania took delivery of $127 million worth of construction equipment, 22.7% more than its purchases for the previous quarter and a 6.2% gain compared with the same quarter in 2002.
Exports to Africa totaled $60 million for first-quarter 2003, a 23.5% drop from the previous quarter but a 24.6% gain compared with 2002 at this time.
