For the first three quarters of 2016 compared to the same time last year, exports of U.S.-made agricultural equipment have fallen 14 percent, according to the Association of Equipment Manufacturers (AEM).

AEM is the North American-based international business group representing the off-road equipment manufacturing industry.

The total price tag for equipment shipped to global markets from January-September 2016 was $5.1 billion. AEM cited the U.S. Department of Commerce data used in global market reports for its members.

“In the third quarter of 2016, U.S. agriculture equipment exports to the world continue to decline, and the year-over-year third quarter exports were lower than year-to-date, with a 17.6 percent Y/Y decline, the highest Y/Y quarterly decline this year so far,” AEM’s Director of Market Intelligence Benjamin Duyck said in a statement.

The fall in exports within the U.S. agricultural equipment industry is a reflection of the global agricultural downturn and low commodity prices, according to Duyck.

“While some countries might benefit from their higher commodity production levels, the U.S. manufacturers are watching from the sidelines as a strong dollar is making them less competitive in the global marketplace,” Duyck said. “Of course, the strong currency is a problem that plagues all U.S. exports.”

Duyck said the group’s expectations for the fourth quarter “remain subdued.”

“With the global economic malaise, the slowdown in emerging markets and the negative interest rates seen in several economies’ bond markets, investment is flowing to the U.S. and U.S. stocks, driving up demand for our dollar, inadvertently affecting our competitiveness abroad,” Duyck said.

The top countries buying the most U.S.-made agricultural machinery during the first three quarters of 2016 were:

  1. Canada–$1.5 billion, down 15 percent
  2. Mexico–$873 million, up 19 percent
  3. Australia–$353 million, down 29 percent
  4. Germany–$185 million, up 0.2 percent
  5. China–$156 million, down 66 percent
  6. France–$128 million, down 10 percent
  7. Ukraine–$123 million, up 244 percent
  8. Brazil–$115 million, down 33 percent
  9. South Africa–$91 million, down 30 percent
  10. United Kingdom–$89 million, down 32 percent

Visit www.aem.org for more information.