UK exports of construction and earthmoving equipment remained strong for the first nine months of 2017, showing a 21% increase compared with the same period 2016. Imports of equipment also showed resilience, with a 12% increase in the same period over 2016.
In the third quarter of 2017, exports of equipment showed a further modest increase for the fourth consecutive quarter. Exports in Q3 were 1.3% up over Q2 levels. This was the highest quarterly level for more than two years, since Q2 2015.
The increasing levels of equipment exports can be attributed to both improving demand in many major overseas markets, as well as the weaker £ exchange rate since the middle of 2016. Japan remains the single biggest source of imports in 2017, accounting for 20% of total imports of equipment in the first nine months of the year by value.