Excavation Machinery in China | The Observatory of Economic Complexity

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Exports In 2022, China exported $15.1B in Excavation Machinery, making it the 1st largest exporter of Excavation Machinery in the world. At the same year, Excavation Machinery was the 51st most exported product in China. The main destination of Excavation Machinery exports from China are: United States ($2.75B), Japan ($1.83B), South Korea ($682M), Brazil ($678M), and Australia ($599M).

The fastest growing export markets for Excavation Machinery of China between 2021 and 2022 were United States ($659M), Russia ($204M), and Brazil ($194M).

Imports In 2022, China imported $1.76B in Excavation Machinery, becoming the 10th largest importer of Excavation Machinery in the world. At the same year, Excavation Machinery was the 156th most imported product in China. China imports Excavation Machinery primarily from: Germany ($326M), Japan ($294M), South Korea ($197M), United States ($157M), and Italy ($92.7M).

The fastest growing import markets in Excavation Machinery for China between 2021 and 2022 were Poland ($23.6M), United States ($9.92M), and Chinese Taipei ($7.44M).

COMPANIES In 2023, leading companies such as KONECRANES (4.77k), SIGMA CORPORATION (3.9k), and SCHINDLER ELEVATOR CORPORATION (2.29k) were at the forefront of shipping Excavation Machinery from China to the United States.

Latest Trends

February 2024

About

Overview In February 2024 China's Excavation Machinery exports accounted up to $968M and imports accounted up to $115M, resulting in a positive trade balance of $853M. Between February 2023 and February 2024 the exports of China's Excavation Machinery have increased by $61.5M (6.79%) from $907M to $968M, while imports decreased by $-19.6M (-14.5%) from $135M to $115M.

Destinations In February 2024, Excavation Machinery were exported mostly to United States ($141M), Japan ($93.5M), Russia ($68.9M), India ($48.5M), and South Korea ($33.2M), and were imported mostly from Germany ($34.5M), Japan ($17.4M), United States ($10.1M), South Korea ($7.66M), and Italy ($6.37M).

Growth In February 2024, the increase in Excavation Machinery's year-by-year exports was explained primarily by an increase in exports to Brazil ($26M or 50.5%), Russia ($15.6M or 38.3%), and India ($13.8M or 29.6%). In February 2024, the decrease in Excavation Machinery's year-by-year imports was explained primarily by a decrease in imports from South Korea ($-18.5M or -60.9%), Japan ($-8.85M or -26.7%), and Malaysia ($-7.24M or -73.7%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)$61.5M(6.79%)

IMPORT GROWTH (February 2023 - February 2024)$-19.6M(-14.5%)

MAIN EXPORTER (February 2024)Jiangsu Province$313M

MAIN DESTINATION (February 2024)United States$141M

This section shows Excavation Machinery's exports and imports data at subnational level for China. 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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