U.S. Ag Equipment Exports Down at Mid-Year

U.S. Ag Equipment Exports Down at Mid-Year

Association of Equipment Manufacturers reports 27% drop in exports during first half of 2014 when compared to last year

U.S. agricultural equipment exports dropped 27% during the first half of 2014 compared to mid-year 2013; $4.77 billion in exports were shipped to global markets compared to $6.53 billion at first-half 2013, according to the Association of Equipment Manufacturers.

All world regions experienced declines, from South America with a drop of 8% to Asia, with a 35.7% decrease in purchases of U.S.-made agricultural machinery.

At mid-year 2014, exports of agricultural machinery to Europe declined 26.9% compared to first-half 2013, for a total $1.21 billion, and exports to Canada dropped 34.3% to total $1.55 billion.

Related: Ag Machinery Exports Dropped 6% in 2013 Compared to 2012

Association of Equipment Manufacturers reports 27% drop in exports during first half of 2014 when compared to last year

Exports to Asia declined 35.7% to $420.7 million for the first half of 2014. Mid-year exports to Central America decreased 12.5% to $528 million, and exports to South America declined 8% to $528.5 million.

Australia/Oceania's agricultural equipment export purchases dropped 22% for a total $360.9 million, and Africa took delivery of $168.7 million worth of agricultural equipment, a 23.4% decrease.

U.S. Ag Equipment Exports Down at Mid-Year

Canada was the top buyer of U.S.-made ag machinery for the first half of 2014 with $1.55 billion in exports, down 34.3%; Mexico ($442.6 million, down 15.1%); Australia ($321.9 million, down 24.9%); Brazil ($230.1 million, down 11.9%); China ($208.5 million, down 27.8%); Germany ($175 million, down 36.2%); Russia ($154.9 million, down 15.6%); Ukraine ($144.1 million, down 0.3%); France ($116.2 million, down 40.8%); South Africa ($113.6 million, down 27.1%).

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