AEM: U.S. Farm Equipment Exports Gain 30.5%

The Association of Equipment Manufacturers (AEM) in a recent report said that worldwide exports of U.S. agricultural- related equipment reached $5.8 billion the from January-June 2008, compared to mid- year 2007, for an increase of 30.5%.
 
Asia and Central America recorded modest gains while all other major world regions reported substantial growth, led by Australia/Oceania and South America.  Exports to Australia/Oceania grew the most with an increase of 94% as the region took delivery of $347 million of U.S. farm equipment.  Exports to South America rose 37% totaling $406 million.  Central America purchased $398 million, worth of U.S. farm machinery, an 8% gain.

Compared to last year, ag equipment exports to Europe rose 30%, totaling $2.6 billion. Exports to Canada increased by $1.55 billion or 35%.  Exports to Asia increased 6% to total $398 million, and exports to Africa grew 29%, totaling $141 million.

The top 10 export destinations for U.S. farm machinery are: (1) Canada – $1.55 billion, up 35%; (2) Russia – $456 million, up 63%; (3) Germany – $331 million, up 25%; (4) Australia – $305.5 million, up 97%; (5) Mexico – $305 million, up 9%; (6) France – $244 million, up 23%; (7) Ukraine – $243 million, up 71%; (8) United Kingdom – $233 million, up 25%; (9) Belgium – $179 million, down 2%; and (10) Kazakhstan – $156 million, up 56%.