U.S. fluid power products exports reached a record high of nearly $6.6 billion in 2019 despite a declining domestic fluid power marketplace and the uncertainty caused by unstable trade policies and tariffs throughout the year. While very little changed in 2019 concerning major trade partners and leading U.S. fluid power product exports, the results of the recently released 2019 Foreign Trade Report reveal consistent industry trends.
U.S. fluid power exports in 2019 continued a consistent growth trend over the last 10 years, narrowly surpassing 2018 with 0.2% growth.
While our two top U.S. fluid power exports trade partners did switch places, as did Japan and Australia, there wasn’t much change to the top trading partners. The top five partners represent over half of the industry’s exports at 56% while the top ten trading partners represent 73%. The remaining 27% of our exports is divided among 182 other countries.
Export data also typically doesn’t show much change when it comes to U.S. exports by fluid power product type. “Parts of actuators and motors” dropped a couple spots, but that is the only change of note. The top five fluid power products represent 60% 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 2019 Foreign Trade Report, an exclusive benefit of NFPA membership.
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