A recent report from the Association of Equipment Manufacturers shows that U.S. exports of construction equipment declined last year.
The report from the AEM said that exports declined more than 38 percent last year when compared to 2008. However, a quarter-by-quarter analysis of data shows that 2009 saw improvements as it wore on.
"Global trade has been a significant source of industry expansion in recent years, and many economies are now rebounding faster than the U.S.," said Dennis Slater, AEM president.
In order to produce its report, the AEM collects data put forward by the U.S. Department of Commerce. A recent report from the Census Bureau showed that the total value of construction machinery shipped increased in January to $1.56 billion. The previous month posted a total of $1.51 billion.
Slater said his organization is applauding efforts of the Obama administration to help improve shipments through the National Export Initiative. A report from the U.S. Department of Agriculture noted that the goal of the plan is to double the amount of U.S. exports over the next half decade.