There’s a surge in U.S. agricultural machinery shipments to worldwide customers, which is yet another indication of the strength in the agricultural sector.
According to the Association of Equipment Manufacturers, U.S. agricultural equipment exports increased 23 percent in 2011 compared to 2010. That is a staggering $11 billion of machinery shipped to other nations. The growth in 2011 follows a strong increase in 2010 of 12 percent.
It’s a marked improvement from the decline of 23 percent seen in 2009.
So where is all this iron going? According to the report, “exports to Australia/Oceania led the way in 2011 with a 60-percent gain as the region took delivery of $1.2 billion of U.S.-made agricultural equipment. Agricultural machinery exports to South America increased 31 percent in 2011 with purchases worth $1.3 billion, and exports of agricultural equipment to Central America gained 14 percent and totaled $1 billion.”
The top market? Canada leads at buying $3.4 billion in equipment, up 10 percent.
It’s something to keep in mind when you are in the market for new machinery. Producers throughout the world are hungry for new equipment.
So are you in a buying mode as well?