Exports of American-Made Agricultural Machinery Increased 29% to Total $7.2 Billion

Exports of American-made agricultural machinery increased 29% to total $7.2 billion for the first half of 2012 compared to January-June 2011, according to the Association of Equipment Manufacturers. The off-road equipment manufacturing trade group consolidates U.S. Commerce Dept. data with other sources into member global trend reports to track export data. "Despite some volatility in world markets, global trade remains positive for agricultural equipment manufacturers, as producers in both emerging and industrialized regions seek to boost productivity. And exports are vital for U.S. manufacturers to stay in business and provide jobs for U.S. workers," says Charlie O'Brien, AEM vice president and agriculture sector leader. U.S. Exports by World Regions and Top 10 Countries South America bought 40% more American-made agricultural machinery than the same time period last year, for a total $810 million, and exports to Central America grew 17% during January-June 2012 to total $592 million. Exports to Asia increased 27% for the first half of 2012 compared to midyear 2011, with purchases totaling $614 million. Exports to Europe rose 34% for a total $2.2 billion worth of agricultural machinery. Exports to Africa gained 82% and totaled $238 million; exports to Australia/Oceania totaled $612 million for a 35% increase; and agricultural machinery export volume to Canada increased 19% to total $2.2 billion. The top 10 buyers of U.S.-made agricultural equipment at midyear 2012 were: (1) Canada - $2.2 billion, up 19%; (2) Australia - $574 million, up 36%; (3) Mexico - $509 million, up 29%; (4) Brazil - $422 million, up 75%; (5) Germany - $327 million, up 26%; (6) China - $291 million, up 63%; (7) Ukraine - $266 million, up 67%; (8) France - $253 million, up 37%; (9) Russia - $233 million, up 88%; (10) United Kingdom - $192 million, up 33%. Source: farmfutures