According to a recent report from the Association of Equipment Manufacturers, exports of U.S.-made ag equipment fell 16 percent for the first half of this year, compared to the same period last year.
Major declines were noted for Canada and Europe. Canada, down 18 percent, accounted for a total of $1.3 billion in sales. Europe was 31 percent lower, for a total of $832 million in sales. Declines were also noted in South America, Australia and Africa.
On the plus side, sales to Asia were up 19 percent, for a total of $502 million.
AEM says it’s the sixth consecutive quarter of year-over-year declines. Lower commodity prices across the globe, as well as a strong U.S. dollar, continue to weigh on global sales.
These numbers are something to keep in mind, especially with the weak sales numbers coming from the domestic side. It’s likely that this trend will continue, which will keep the pressure on manufacturers. It also will have a ripple effect on the used equipment market.
This fall and winter will be interesting.