WASHINGTON, D.C. - Exports of woodworking and sawmill equipment produced in the U.S. are finding buyers around the world. The growth has gotten the attention of the U.S. Department of Commerce.
A report issued by the International Trade Administration found for instance that tools for wood cutting tooling exports rose 25 percent last year, to $141 million, while power saws rose 28 percent to $18 million and sawing machinery rose 264 percent to $11 million.
According to the report, the U.S. is a top global supplier of sawmill and woodworking equipment. As seen below, the U.S.' top five export markets in 2015 were Canada, Mexico, Australia, New Zealand, and the United Kingdom.
Unsurprisingly, three of the top five importers of U.S. woodworking equipment - Canada, Mexico, and Australia - are all Free Trade Agreement (FTA) partners with the U.S. Free Trade Agreements reduce or eliminate tariffs and reduce technical barriers to trade to facilitate international commerce and stimulate growth across industry sectors. In 2015, Canada and Mexico received 65.8 percent of U.S. woodworking equipment exports.
The above graph displays the top ten U.S. sawmill and woodworking products (including machinery as well as hand-held and power hand-held woodworking tools) as a percentage of U.S. exports for the sector. The top ten commodity aggregations account for approximately 79 percent of U.S. sawmill and woodworking equipment exports. Table VIII displays the same export products, as well as the market value, market growth (2014-2015), and a five-year compound annual growth rate. Below shows the same export products, as well as the market value, market growth (2014-2015), and a five-year compound annual growth rate.
The report says that the U.S. is ranked fourth in the world for exports of sawmill and woodworking equipment (including machinery, powered and unpowered handheld tools), accounting for 7 percent of total global exports. U.S. imports of these same products were nearly three times that of its exports in 2015. Trade data, however, does not take into account U.S. manufacturers’ domestic sales, which are substantial.
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