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2023
Exports $1.94BWorld Rnk 10 / 221
Flag Rnk 19 / 1210
2023
Destination $39.5M United States
2022 - 2023
FASTEST GROWING MARKET $39.5MNetherlands
2023
PRODUCT COMPLEXITY IN Excavation Machinery1.14Rnk 128 / 1025
2023
Imports $1.22BWorld Rnk 18 / 224
Flag Rnk 18 / 1213
2023
Origin $12.4M Germany
2022 - 2023
FASTEST GROWING ORIGIN $12.4MBelgium
2023
ECONOMIC COMPLEXITY of Sweden1.53Rnk 9 / 132

About

Exports In 2023, Sweden exported $1.94B in Excavation Machinery, making it the 10th largest exporter of Excavation Machinery in the world. At the same year, Excavation Machinery was the 19th most exported product in Sweden. The main destination of Excavation Machinery exports from Sweden are: United States ($238M), France ($136M), Norway ($124M), Germany ($122M), and Netherlands ($110M).

The fastest growing export markets for Excavation Machinery of Sweden between 2022 and 2023 were Netherlands ($39.5M), Poland ($26.2M), and Singapore ($25.9M).

Imports In 2023, Sweden imported $1.22B in Excavation Machinery, becoming the 18th largest importer of Excavation Machinery in the world. At the same year, Excavation Machinery was the 18th most imported product in Sweden. Sweden imports Excavation Machinery primarily from: Germany ($245M), Poland ($131M), China ($101M), Italy ($96.5M), and Denmark ($81.3M).

The fastest growing import markets in Excavation Machinery for Sweden between 2022 and 2023 were Belgium ($12.4M), Netherlands ($5.34M), and United Kingdom ($5M).

COMPANIES In 2023, leading companies such as ABB Motors and Mechanical (4) were at the forefront of shipping Excavation Machinery from Sweden to the United States.

Latest Trends

October 2024

About

Overview In October 2024 Sweden's Excavation Machinery exports accounted up to SEK1.49B and imports accounted up to SEK1.05B, resulting in a positive trade balance of SEK435M. Between October 2023 and October 2024 the exports of Sweden's   Excavation Machinery have decreased by SEK-73.2M (-4.69%) from SEK1.56B to SEK1.49B, while imports decreased by SEK-65.6M (-5.86%) from SEK1.12B to SEK1.05B.

Destinations In October 2024, Excavation Machinery were exported mostly to Norway (SEK160M), United States (SEK153M), Germany (SEK112M), Australia (SEK80.2M), and Finland (SEK71.3M), and were imported mostly from Germany (SEK194M), China (SEK169M), Poland (SEK98M), Italy (SEK71.3M), and Denmark (SEK68.7M).

Growth In October 2024, the decrease in Excavation Machinery's year-by-year exports was explained primarily by a decrease in exports to China (SEK-37.1M or -41.3%), Egypt (SEK-4.95M or -70.4%), and Turkey (SEK-4.72M or -24.5%). In October 2024, the decrease in Excavation Machinery's year-by-year imports was explained primarily by a decrease in imports from China (SEK-70.6M or -51.4%), Lithuania (SEK-5.77M or -40.6%), and South Korea (SEK-4.64M or -30.9%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)SEK-73.2M(-4.69%)
IMPORT GROWTH (October 2023 - October 2024)SEK-65.6M(-5.86%)
MAIN EXPORTER (October 2024)undefined1.49B
MAIN DESTINATION (October 2024)NorwaySEK160M

This section shows Excavation Machinery's exports and imports data at subnational level for Sweden. 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 (2023)$1.94B
IMPORTS (2023)$1.22B
NET TRADE (2023)$719M

In 2023, Sweden exported $1.94B in Excavation Machinery. The main destinations of Sweden exports on Excavation Machinery were United States ($238M), France ($136M), Norway ($124M), Germany ($122M), and Netherlands ($110M).

In 2023, Sweden imported $1.22B in Excavation Machinery, mainly from Germany ($245M), Poland ($131M), China ($101M), Italy ($96.5M), and Denmark ($81.3M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Excavation Machinery EXPORT MARKETS FOR Sweden WERE (2022 - 2023):
Netherlands$39.5M (56%)
Poland$26.2M (49%)
Singapore$25.9M (236%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Excavation Machinery BY Sweden WERE (2022 - 2023):
France-$29.5M (-17.8%)
Russia-$16.9M (-99.7%)
Kazakhstan-$13.9M (-79.1%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Sweden's main exporting competitors in Excavation Machinery were:
China $14.9B
Germany $7.05B
United States $6.46B
In 2023, Sweden's main importing competitors in Excavation Machinery were:
United States $11.9B
Germany $5.38B
France $3.23B

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Trade Value of Excavation Machinery by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $83M
TOP IMPORT POTENTIALChina+ $55.7M

Excavation Machinery’s highest export potential is United States. With an export gap of $83M.   Excavation Machinery’s highest import potential is China with an import gap of $55.7M.

See methodology.

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