While exports improved during the second quarter, the construction equipment manufacturing industry’s trade deficit worsened, with a trade imbalance of $214 million of imports over exports for April-June, compared with a deficit of $64 million for the first quarter 2003.
Exports of construction equipment to South America markets totaled $170 million for the second quarter of 2003, a 20.6 percent increase over the previous quarter and a gain of 4.3 percent compares to second quarter 2002 totals. Construction machinery exports to Central America for second quarter 2003 were $181 million, an 18.4 percent gain compared to the first quarter of 2003 and a 12.3 percent jump compared to its purchases a year ago.
Asia took delivery of $224 million worth of construction equipment the second quarter of 2003, a 9.2 percent decline compared to the previous quarter and a 14.5 percent decline compared to second quarter 2002.
Exports to Canada totaled $726.5 million for the second quarter of 2003, a 23.7 percent increase over the previous quarter, and a 28.6 percent gain compared to second quarter 2002. Exports to Europe totaled $369 million, a gain of 11.5 percent over first quarter 2003 and an 18.5 percent increase compared to last year.
Africa took delivery of $89 million worth of construction equipment during April-June of this year, a gain of 48.3 percent over the previous quarter and a 35.3 percent increase compared to second quarter 2002. Australia/Oceania markets declines 18 percent compared to the first quarter with purchases of $104 million, which was also 18.2 percent lower than its construction equipment purchases for second quarter 2002.
