Over 2013-2015, the U.S. Turned into a Net Importer of Industrial Truck, Tractor, Trailer, and Stacker Machinery, with Rocketing Trade Deficit of about 1.8 Billion USD

Motor Vehicles June 20, 2016
Author: Sergey Avramenko
Head of Global Markets Research Team

Photo: © zorandim / Bigstockphoto

The U.S. takes third place in global exports of industrial truck, tractor, trailer, and stacker machinery with a 12% share (based on USD), following Germany (16%) and China (15%). In 2015, the U.S. exported 6,011 million USD, 8% under the previous year.

From 2007 to 2015, U.S. industrial truck, tractor, trailer, and stacker machinery exports showed mixed dynamics. An enormous drop in 2009 was followed by a recovery over the next three years, until exports decreased again. Since 2013, exports turned downwards, declining steadily to 2015.

In 2012, the U.S. industrial truck, tractor, trailer, and stacker machinery exporters overcame the pre-recession level achieved in 2008. However, over the recent three years exports rolled back to the level far below the pre-recession peak.

As U.S. companies have worsened their positions on overseas markets, domestic manufacturers wasted a growth driver from overseas demand.

In 2015, the main destinations of U.S. industrial truck, tractor, trailer, and stacker machinery exports were Canada (31%), Mexico (15%) and Australia (6%). The shares exported to Canada and Mexico increased (+8 percentage points and +9 percentage points, respectively), while the share sent to Australia illustrated negative dynamics (-3 percentage points) between 2007 and 2015.

Before 2013, the U.S. was a net exporter of industrial truck, tractor, trailer, and stacker machinery, with a surplus of approximately 1.6 billion USD in 2010. Over the years, however, that surplus not only evaporated but turned into a 177 million USD trade deficit in 2013, driven by rising imports. Over the recent two years, the trade deficit rocketed to about 1.8 billion USD in 2015, making the U.S. a fair net importer of industrial truck, tractor, trailer, and stacker machinery. This trend is likely to continue in the medium terms, due to strong dollar and intense competition.

Source: U.S. Industrial Truck, Tractor, Trailer, And Stacker Machinery Market. Analysis And Forecast to 2020