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2022
Exports $2.3BWorld Rnk 7 / 221
Flag Rnk 39 / 1210
2022
Destination $223M United States
2021 - 2022
FASTEST GROWING MARKET $223MUnited States
2022
PRODUCT COMPLEXITY IN Excavation Machinery0.96Rnk 185 / 1025
2022
Imports $3.26BWorld Rnk 3 / 224
Flag Rnk 28 / 1213
2022
Origin $223M United States
2021 - 2022
FASTEST GROWING ORIGIN $223MUnited States
2022
ECONOMIC COMPLEXITY of Canada0.92Rnk 31 / 133

About

Exports In 2022, Canada exported $2.3B in Excavation Machinery, making it the 7th largest exporter of Excavation Machinery in the world. At the same year, Excavation Machinery was the 39th most exported product in Canada. The main destination of Excavation Machinery exports from Canada are: United States ($1.77B), Canada ($56.6M), Australia ($44.4M), Mexico ($34.2M), and Netherlands ($24.9M).

The fastest growing export markets for Excavation Machinery of Canada between 2021 and 2022 were United States ($223M), Mexico ($8.81M), and Saudi Arabia ($7.5M).

Imports In 2022, Canada imported $3.26B in Excavation Machinery, becoming the 3rd largest importer of Excavation Machinery in the world. At the same year, Excavation Machinery was the 28th most imported product in Canada. Canada imports Excavation Machinery primarily from: United States ($1.98B), China ($518M), Japan ($79.9M), Germany ($69.2M), and South Korea ($66.9M).

The fastest growing import markets in Excavation Machinery for Canada between 2021 and 2022 were United States ($223M), China ($123M), and Norway ($28.6M).

COMPANIES In 2023, leading companies such as Norwegian Cruise Line (21), Celebrity Cruises (12), and CNH Industrial (1) were at the forefront of shipping Excavation Machinery from Canada to the United States.

Latest Trends

August 2024

About

Overview In August 2024 Canada's Excavation Machinery exports accounted up to C$229M and imports accounted up to C$410M, resulting in a negative trade balance of C$180M. Between August 2023 and August 2024 the exports of Canada's   Excavation Machinery have decreased by C$-18.6M (-7.49%) from C$248M to C$229M, while imports increased by C$28.4M (7.45%) from C$381M to C$410M.

Destinations In August 2024, Excavation Machinery were exported mostly to United States (C$183M), Japan (C$7.7M), Mexico (C$3.35M), Austria (C$2.68M), and Australia (C$2.66M), and were imported mostly from United States (C$191M), China (C$64M), Germany (C$32.6M), Italy (C$16.7M), and Austria (C$14.8M).

Growth In August 2024, the decrease in Excavation Machinery's year-by-year exports was explained primarily by a decrease in exports to Poland (C$-1.79M or -98.6%), Australia (C$-1.74M or -37.6%), and Mexico (C$-1.05M or -41.5%). In August 2024, the increase in Excavation Machinery's year-by-year imports was explained primarily by an increase in imports from United States (C$27.9M or 23.7%), Germany (C$17.2M or 146%), and China (C$14.8M or 32.7%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)C$-18.6M(-7.49%)
IMPORT GROWTH (August 2023 - August 2024)C$28.4M(7.45%)
MAIN EXPORTER (August 2024)OntarioC$140M
MAIN DESTINATION (August 2024)United StatesC$183M

This section shows Excavation Machinery's exports and imports data at subnational level for Canada. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Excavation Machinery over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$2.3B
IMPORTS (2022)$3.26B
NET TRADE (2022)-$963M

In 2022, Canada exported $2.3B in Excavation Machinery. The main destinations of Canada exports on Excavation Machinery were United States ($1.77B), Canada ($56.6M), Australia ($44.4M), Mexico ($34.2M), and Netherlands ($24.9M).

In 2022, Canada imported $3.26B in Excavation Machinery, mainly from United States ($1.98B), China ($518M), Japan ($79.9M), Germany ($69.2M), and South Korea ($66.9M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Excavation Machinery EXPORT MARKETS FOR Canada WERE (2021 - 2022):
United States$223M (14.5%)
Mexico$8.81M (34.8%)
Saudi Arabia$7.5M (92.2%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Excavation Machinery BY Canada WERE (2021 - 2022):
Australia-$18.9M (-29.9%)
Russia-$14.7M (-83.9%)
Brazil-$10.3M (-53.4%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Canada's main exporting competitors in Excavation Machinery were:
China $15.1B
United States $6.47B
Germany $5.45B
In 2022, Canada's main importing competitors in Excavation Machinery were:
United States $11.6B
Germany $5.17B

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Trade Value of Excavation Machinery by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $428M
TOP IMPORT POTENTIALChina+ $112M

Excavation Machinery’s highest export potential is United States. With an export gap of $428M.   Excavation Machinery’s highest import potential is China with an import gap of $112M.

See methodology.

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