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Farm Equipment Exports Fall in First Half of 2013

Farm Equipment Exports Fall in First Half of 2013

Association of Equipment manufacturers reports slowing exports to South America, Europe

The Association of Equipment Manufacturers Monday reported the results of half-year export data on U.S. farm equipment, finding sales down 9.5% compared to midyear 2012.

Sales total $6.5 billion, down from $7.2 billion a year earlier, according to U.S. Commerce Department data compiled by AEM.

Steep declines

The steepest declines in American farm machinery exports were to South America, Europe and Australia/Oceania, with Asia among the regions showing a modest gain, AEM said.

Association of Equipment manufacturers reports slowing exports to South America, Europe

Specifically, exports to South America declined 29% to $574 million; exports to Europe dropped 23% to $1.7 billion; and exports to Australia/Oceania decreased 24%to $463 million. Exports to Africa also declined 8% for a total $220 million.

Noted increases were significantly lower than what was recorded at this time last year. Asia's increase amounted to 7% for a total of $654 million, while Central American exports also grew, though only by 2%, equating to $603 million. Exports to Canada increased 8% for a total $2.4 billion.

The top countries buying U.S. made farm machinery for the first half of 2013 included: Canada ($2.4 billion); Mexico ($521 million); Australia ($429 million); China ($289 million); and Germany ($274 million).

The remaining countries in the top five were Brazil, France, Russia, South Africa and Ukraine, though each had export totals that were down from previous year's totals.

Last year, exports were promising, even in the face of a drought, as exports soared past 2011 totals, beating them by 29%. Canada, however, easily remains the top importer for 2012 and 2013, besting other countries' totals by millions.

At the start of the year, the industry was positive overall about the potential for the ag machinery industry in 2013, projecting 5% growth in production volumes.

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