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Imported & Exported Boats for Sale2007 Statistics for US Luxury Boat Imports & Exports
As luxury boat sales stumble in America, the good news is that a weak U.S. dollar boosted American export sales of pleasure boats overseas by 12.8% in 2007.
These days, savvy economists are watching sales statistics for imported and exported pleasure boats very closely. That’s because, in the past, the US$40-billion per year American recreational boating industry has been one of the first industries to signal a slowdown before the rest of the American economy goes into a slump. Loan Problems Hurt U.S. Boat SalesCEO Dustan McCoy of Brunswick Corp, the company that makes SeaRay powerboats and Mercury outboards, points out that 75% of America’s 13 million boat owners make under $100,000 annually. Particularly in key states such as California, Florida and Maryland, these same middle-class boat owners have had to back away from taking out home equity loans to finance their dream luxury boats due to the home mortgage crisis. National Public Radio’s Scott Neuman confirms that the U.S. boating industry manufactures most of its boat products in the U.S. using American components, and employs many Americans. Any slowdown in demand for luxury boat items will inevitably lead to painful job losses. Made in America Luxury Boats on Sale A bright spot for the U.S. luxury boat sales was a 12.8% increase in American exports of pleasure boats and motors to the world amounting to US$3.14 billion in 2007. A weaker U.S. dollar last year convinced overseas consumers that luxury boats made in America were becoming real bargains due to the improved buying power of their currencies. Below is a summary of the top countries buying exported American pleasure boats and motors in 2007, as well as the top countries from which U.S. importers bought foreign boating items. Top Countries Buying Exported US Pleasure Boats & MotorsSales of pleasure boats and motors from America to the rest of the world were US$3.14 billion in 2007. The following 12 countries bought just over 70% of U.S. luxury boat exports in 2007.
Fastest-Growing Buyers of US Pleasure Boats & MotorsLast year, American exports of pleasure boats and motors to the world rose 12.8% from 2006 and were up 129.5% since 2003. The list below shows the top 5 fastest-growing countries that purchased at least US$30 million worth of American luxury boat exports in 2007.
Fastest-Declining Buyers of US Pleasure Boats & MotorsLed by Mexico, the following countries bought fewer luxury boat items from the U.S. last year.
Top Countries Providing Imported US Pleasure Boats & MotorsAmerica imported US$2.95 billion worth of pleasure boats and motors in 2007, almost $200,000 less than its luxury boat exports. The top 12 providers listed below generated 87% of US luxury boat imports.
Fastest-Growing Suppliers of US Pleasure Boats & MotorsAmerican imports of luxury boat items from the world fell 1.1% last year from the prior year but were up 18.9% since 2003. Among the top 10 exporters of pleasure boats and motors to America amounting to more than $30 million, exports from the Netherlands rose at the steepest rate.
Fastest-Declining Suppliers of US Pleasure Boats & MotorsThe following countries exported fewer pleasure boats and motors into the U.S. last year, with Hong Kong showing the highest percentage decline.
Sources for this ArticleThis article presents independent calculations and insights based on data drawn from the U.S. Census Bureau – Foreign Trade Statistics and National Public Radio.
The copyright of the article Imported & Exported Boats for Sale in Import/Export is owned by Daniel Workman. Permission to republish Imported & Exported Boats for Sale in print or online must be granted by the author in writing.
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