The rate of U.S. equipment exports increased 13% in 2012 to $26.7 billion but represents a slower trend than previous years. Exporters saw a 43% growth in 2011 and 28% uptick in 2010, according to the Association of Equipment Manufacturers.
Exports to Asia grew 2% to $3.2 billion, while South America exports grew 6% to $4.6 billion. Shipments to Central America, Europe and Africa also rose. The top 10 export destinations last year were Canada, Australia, Mexico, Chile, South Africa, Brazil, Belgium, Peru, Russia and China, notes AEM.
"Exports have been called a bright spot for the U.S. economy," says Al Cervero, AEM vice president, in a statement. "With this global slowing and continued domestic uncertainties, it's more important than ever for our lawmakers to enact job-creating export and manufacturing policies."
