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Serving: United States
Corn+Soybean Digest

Agricultural Equipment Export Business Up 10% At Mid-Year 2006

U.S. exports of agricultural-related machinery increased 10% during the first half of 2006 to total $4.12 billion, with Asia showing the strongest growth, according to the Association of Equipment Manufacturers (AEM). The AEM North American-based international trade group produces a quarterly “global markets” report consolidating U.S. Commerce Department data specific to farm machinery.

Farm equipment exports to Asia increased 42% for the first half of 2006 compared to January-June 2005, with purchases totaling $351 million.

South America bought 17% more American-made agricultural machinery than the same time period last year, for a total $219 million, and exports to Central America grew 14% during January-June 2006 to total $374 million.

Exports to Europe rose 11% for a total $1.60 billion worth of farm machinery bought during the first half of 2006 compared to the same time period last year, and Canada took delivery of $1.19 billion worth, a 9% increase. Exports of U.S.-made farm equipment to Africa totaled $93 million for the first half of 2006, a 4% gain compared to January-June 2005.

The only decline in agricultural machinery exports for mid-year 2006 was to Australia/Oceania, which purchased $297 million, a 14% drop compared to the same time period last year.

The top 10 export destinations for American-made farm machinery for the first half of 2006 were: (1) Canada $1.19 billion, up 9%, (2) Mexico $298 million, up 17%, (3) Australia $269 million, down 15%, (4) Germany $246 million, up 16%, (5) France $189 million, up 0.6%, (6) United Kingdom $172 million, up 8%, (7) Russia $132 million, up 17%, (8) Belgium $125 million, up 41%, (9) China $117 million, up 107% and (10) Netherlands $106 million, up 48.5%.

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