U.S. Ag Equipment Exports Continue To Decline

According to the Association of Equipment Manufacturers (AEM), exports of U.S.-made agricultural equipment declined 15.8% in the first three quarters of 2015 compared to the same time last year. With a total of $5.8 billion of equipment shipped worldwide, Asia recorded double-digit gains; while South America and Europe saw the biggest drop.

Exports by Region: January to September 2015 compared to January to September 2014

  • Canada dropped 19% ($1.8 billion total)
  • Europe declined 28% ($1.2 billion total)
  • Central America gained 4% ($844 million total)
  • Asia gained 21% ($738 million total)
  • Australia/Oceania fell 3% ($539 million total)
  • South America dropped 34% ($521 million total)
  • Africa decreased 26% ($198 million total)

“The third quarter of 2015 marked the seventh consecutive quarter that U.S. agricultural equipment exports and imports experienced year over year declines,” says Benjamin Duyck, AEM’s director of market intelligence. “These results are in line with the domestic and global demand trends. AEM’s third quarter North American ag equipment industry conditions trends report initial results indicated that 76.75% of respondents felt demand had fallen compared to the same period the previous year. Only 13.95% of respondents felt demand had remained unchanged. That marked the sixth quarter that more people felt the market demand was decreasing vs. increasing. Also, according to the survey, 55.2% of exporters felt their exports had fallen year over year while 31.5% felt they had remained unchanged.”