Stats Fact of the Week: Week of April 1, 2019
Despite the unpredictability of tariffs, trade policies, and inflation, U.S. fluid power product exports reached a record high of 6.5 billion dollars in 2018. This goes hand-in-hand with the record high production of U.S. fluid power products, which reached an estimated 23.8 billion dollars. Although fluid power product exports reached new highs, little changed concerning major trade partners for U.S. exports and leading U.S. fluid power product exports. The soon-to-be-released 2018 Foreign Trade Report offers a more detailed picture of the export landscape. Below is a sneak peek of the report’s findings.
Outside of the small dip in 2015 and 2016, U.S. fluid power exports have experienced a consistent growth trend the last 10 years, closing with a very strong 10.2% growth in 2018 when compared to 2017.
Rarely do we change much when it comes to the U.S. fluid power exports major trade partners. The top five trading partners represent a little over half of the industry’s exports, while the top ten trading partners represent 74%. The remaining 26% of our exports is divided among 184 other countries.
We also typically don’t much change when it comes to U.S. exports by fluid power product type. The top six fluid power products represent 70% of all U.S. fluid power product exports, while the top ten represent almost 90%.
All the data used to generate the graphs and information above can be found in NFPA’s 2018 Foreign Trade Report, an exclusive benefit of NFPA membership. This report will be released soon. An email announcing its release will be sent to the entire NFPA membership.
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