British exports double the construction equipment and machinery that we import with UK exports of construction equipment growing by 13% to £700m in the first quarter of 2017, reported Construction Index recently (24 May 2017).
Imports of construction machinery rose with the seasons by 39% to £388m, but Britain maintained a clear positive balance of trade in this sector.
In Q1, the trade surplus was £312m, down from £340m in Q4 2016.
The 39% increase in imports of equipment, while substantial, was in line with the usual seasonal pattern, whereby imports peak in the second quarter of the year, and dip in the fourth.
Construction Equipment Association analyst Paul Lyons, who compiled the data, attributed the rise in exports to both improving demand in some of the major overseas markets, as well as the benefit of the weaker pound exchange rate since the middle of 2016.
The USA remained the top destination for exports in Q1 2017, accounting for 23% by value.
However, Britain’s construction equipment manufacturers are highly exposed to the risk of a bad Brexit deal, as 44% of their exports currently land in EU countries. But Britain is also a good market for EU manufacturers.
Sweden edged ahead of Japan as the largest single import source of construction machinery in Q1 2017, accounting for 19% of total imports in Q1 by value.
The UK remains a net exporter of construction and earthmoving equipment, whether measured by value or by weight.
The health of the British construction equipment market is mirrored in the domestic construction equipment hire market, reports Enfield-based Mr Plant Hire which has recently invested in a new purpose-built 1.1 acre site to kickstart a new phase of expansion.
Mr Plant Hire – Our Equipment
Today, Mr Plant Hire employs 55 staff in Enfield, split across their two divisions – HQ and its London Regional Hire and Training Centre. It has customers across the construction and electrical industries supplying construction equipment hire, M&E hire, powered access hire and heating, cooling and drying equipment. Its hire range includes large and small machinery down to power and hand tools.
Mr Plant Hire plans to finish building the new 1.1 acre site by the end of 2017 and further expansion in on the horizon as the firm plans to increase its geographical reach.
To find out more about how Mr Plant Hire can improve your plant hire buying, call 0844-55 55 551 or visit www.mrplanthire.co.uk