U.S. Irradiation Apparatus Exports Turned Upwards in 2015
Measuring, Testing, Navigating And Control Equipment June 15, 2016
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The U.S. ranks second globally in irradiation apparatus exports with an 18% share (based on USD), following Germany (24%). In 2015, the U.S. exported 4,097 million USD, which was 6% over the previous year.
From 2007 to 2015, U.S. irradiation apparatus exports showed mixed dynamics. A slight drop in 2009 was followed by steady growth over the next three years, until exports turned downwards in 2013-2014. However, in 2015, exports grew again. Despite significant fluctuations, since 2010, U.S. irradiation apparatus exports remained higher than the pre-recession level achieved in 2007.
During the periods of export growth, domestic manufacturers enjoyed a growth driver from overseas markets. Resumed export increase could be a positive signal for U.S. irradiation apparatus manufacturing.
In 2015, the main destinations of U.S. irradiation apparatus exports were China (18%), Japan (15%) and Germany (10%). The shares exported to China and Japan increased (+11 and +2 percentage points, respectively), while the share sent to Germany illustrated negative dynamics (-5 percentage points) between 2007 and 2015.
From 2007 to 2015, the trade balance of irradiation apparatus recorded significant fluctuations, but, generally, the U.S. was a net exporter. However, trade flows recorded same values, leaving small room for a trade deficit or surplus.
Before 2009, the U.S. tracked a 227 million USD trade deficit of irradiation apparatus, which turned into a 309 million USD trade surplus in 2009. From 2009 to 2013, the U.S. was a net exporter of irradiation apparatus. However, in 2014, a deficit returned, only to roll back to a small surplus next year, as exports grew faster than imports in 2015.
Source: U.S. Irradiation Apparatus Market. Analysis And Forecast to 2020
