Exports of U.S.-made agricultural equipment for first quarter 2015 dropped 16.7-percent compared to first quarter 2014, for a total $1.82 billion shipped to global markets.

All world regions recorded declines except Central America, and Europe experienced the deepest drop, according to the Association of Equipment Manufacturers (AEM), citing U.S. Department of Commerce data it uses in global markets reports for members.

Exports by World Region

First quarter 2015 U.S. agricultural equipment exports by major world regions compared to first quarter 2014: 

  • Europe declined 34.7 percent, for a total $410.5 million
  • South America dropped 21.8 percent, for a total $187.8 million 
  • Australia/Oceania fell 16.2 percent for a total $120.7 million
  • AEM Market Analysis Overview

    AEM’s Benjamin Duyck, director of market intelligence, provides some insights:

    This quarter decline of 16.7 percent was quite steep, though less harsh than the 29 percent decline last quarter or the 19.3 percent decline in Q1 of 2014. As global market drivers had not changed much from last year, declines in the exports of farm equipment was expected. Farm incomes are still forecasted to decrease in 2015, and on a more macro-economic level the strong dollar is still hampering U.S. global competitiveness.

    A recent report by the global Canada - $582 million, down 16.7 percent

  • Australia - $107.7 million, down 17.2 percent
  • Germany - $66.4 million, down 7.6 percent
  • Belgium - $47.7 million, down 36.1 percent
  • South Africa - $42.6 million, down 14.2 percent
  • Market Intelligence section.

    Custom detailing exports by 10 Digit HS code to various countries worldwide, as well as an overview of export market opportunities by product, are available to members on request. For more information, contact AEM’s Benjamin Duyck, director of market intelligence (www.aem.org - AEM is the North American-based international trade group providing innovative business development resources to advance the off-road equipment manufacturing industry in the global marketplace. AEM membership comprises more than 900 companies and more than 200 product lines in the agriculture, construction, forestry, mining and utility sectors worldwide. AEM is headquartered in Milwaukee, Wisconsin, with offices in the world capitals of Washington, D.C.; Ottawa, Canada; and Beijing, China.