Mar. 5 – Despite U.S. exports of construction machinery dropping more than a third last year due to the global economic downturn, sales to India posted recession-defying gains of 55 percent, according to the Association of Equipment Manufacturers (AEM).
International exports of U.S. construction equipment dropped 38 percent in 2009 as India was the only country out of the United States’ construction machinery destinations to increase their demand for the products. India became the 14th largest purchaser of U.S. construction machinery last year with imports worth US$181 million, reported AEM.
“Exports have literally been a lifeline for the construction equipment industry, which saw U.S. business plummet more than 40 percent last year and unemployment soar to more than double the national average,” said AEM President Dennis Slater.
According to AEM, U.S. construction machinery exports in 2009 declined 29 percent to South America, 34 percent to Central America, 35 percent to Asia (including China), 51 percent to Europe, 41 percent to Canada, 29 percent to Africa, and 46 percent to Australia/Oceania.
India’s 55 percent increase despite this international trend underscores the infrastructure investment boom that is beginning to take place within the country.
