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(MILWAUKEE, WI.) -- U.S. exports of agricultural-related machinery totaled nearly $8 billion in 2009, a 23% percent drop compared to the previous year, with the largest declines in business to Europe and South America. This is according to the Association of Equipment Manufacturers.
"Our manufacturers operate in a global marketplace, and the farm equipment sector as well has been adversely affected by this worldwide recession after several years of strong export growth," said AEM President Dennis Slater. U.S. farm equipment exports to Europe totaled $2.3 billion, a 42% drop for 2009. Exports to South America declined 31% in 2009, with purchases totaling $611 million. Central America took delivery of $646 million worth of American-made agricultural equipment in 2009, a 20% decrease. Asia bought $643 million worth of U.S. agricultural machinery, a 19% decrease, while exports to Canada remained about even with a 1% decrease to total $2.7 billion. Exports to Australia/Oceania declined 2% and totaled $777 million, and Africa's farm equipment export purchases were $225 million, a drop of 25%. |