Top Markets Series: Agricultural Equipment
Agricultural Equipment is produced in the United States by a robust and highly successful manufacturing industry, with total domestic and foreign sales of $38.9 billion in 2013. U.S. exports were worth $11.1 billion in 2014.
More than 1,000 U.S. manufacturers provide commercial producers of food, fiber, fuel crops, and livestock around the world with a wide range of high-technology agricultural equipment.
Despite intense global competition and globally weak prices for commodities produced by many U.S. exporters’ customers, the United States enjoys a strong trade surplus in agricultural equipment. Export growth is driven by a global population that is expected to reach 9 billion by 2050, as well as expanding middle class populations in many emerging economies. Technologies to produce more food, in greater variety, more efficiently, while conserving scarce water and other resources will be in demand for the foreseeable future.
Ready to expand your business to new markets? EXIM can help boost your competitiveness and close more deals.
White paper sponsored by EXIM Bank