Net U.S. Truck Trailer Exports Turned into Trade Deficit under Pressure from Rapidly Growing Imports in 2015

Motor Vehicles June 06, 2016
Author: Sergey Avramenko
Head of Global Markets Research Team

The U.S. takes second place in global truck trailer exports with a 14% share (based on USD), following Germany (27%). In 2015, the U.S. exported 1,527 million USD, -12% under the previous year.

From 2007 to 2015, U.S. truck trailer exports showed mixed dynamics. A significant drop in 2009 was followed by steady growth over the next four years, until exports turned downward, declining considerably in 2014-2015. In 2011, U.S. truck trailer exports overcame the pre-recession level achieved in 2008, but after several fluctuations turned back to the level slightly higher than in 2008.

As the U.S. companies appear to worsen their positions on overseas markets, domestic manufacturers could hardly enjoy a growth driver from exporting.

In 2015, the main destination of U.S. truck trailer exports was Canada (69%), distantly followed by Mexico (14%). The share exported to Canada decreased (-5 percentage points), while the share sent to Mexico illustrated positive dynamics (+5 percentage points) between 2007 and 2015.

From 2007 to 2014, the U.S. was a net exporter of truck trailer. However, imports grew faster than exports on average over the period under review.

Before 2015, U.S. net exports of truck trailer fluctuated considerably but remained substantial, running a surplus of around 309 million USD in 2007, 823 million USD in 2013 and 265 million USD in 2014. However, that surplus not only evaporated but turned into a 378 million USD trade deficit in 2015, driven by rapidly rising imports of truck trailer in 2014-2015.

Source: U.S. Truck Trailer Market. Analysis And Forecast to 2020