Excavation MachineryMachinery parts; used solely or principally with the machinery of heading no. 8425 to 8430
8431 (Harmonized System 1992 for 4-digit)
2021 World Trade: $61.4B, Rnk 72 / 1217
2021 Top Exporter | Top Importer: $12.2B | $9.68B, China | United States
2021 Product Complexity: 1.01, Rnk 166 / 1024
2020 - 2021 Export Growth (CAGR): 23.7%, Rnk 504 / 1217
2018 Mean Tariff: 4.67%, Rnk 885 / 1259
2021 Share of World Trade: 0.29%, Rnk 72 / 1217
Overview This page contains the latest trade data of Excavation Machinery. In 2021, Excavation Machinery were the world's 72nd most traded product, with a total trade of $61.4B. Between 2020 and 2021 the exports of Excavation Machinery grew by 23.7%, from $49.6B to $61.4B. Trade in Excavation Machinery represent 0.29% of total world trade.
Excavation Machinery are a part of Machinery, mechanical appliances, & parts. They include Parts of cranes, work-trucks, shovels, constr machine, Parts of boring or sinking machinery, Parts of lifting/handling machinery nes, Parts of fork-lift etc trucks, Parts of lifts, skip hoist or escalators, Buckets, shovels, grabs etc for excavating machinery, Parts of hoists and winches, and Bulldozer and angledozer blades.
Exports In 2021 the top exporters of Excavation Machinery were China ($12.2B), United States ($5.53B), Germany ($5.45B), Italy ($3.56B), and Japan ($2.62B).
Imports In 2021 the top importers of Excavation Machinery were United States ($9.68B), Germany ($4.81B), Canada ($2.73B), France ($2.55B), and Japan ($2.5B).
Tariffs In 2018 the average tariff for Excavation Machinery was 4.67%, making it the 885th lowest tariff using the HS4 product classification.
Ranking Excavation Machinery ranks 166th in the Product Complexity Index (PCI).
Description Parts suitable for use solely or principally with the machinery of heading 8425 to 8430 are used in the production of other goods. They can be made from a variety of materials, including steel, aluminum, and plastic.
The following visualization shows the latest trends on Excavation Machinery. Countries are shown based on data availability.
For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.
* Using January 2020 exchange rates when trade data is reported in local currency.
Trade By Country
Top Origin (2021): China, $12.2B
Top Destination (2021): United States, $9.68B
Excavation Machinery are the world's 72nd most traded product.
In 2021, the top exporters of Excavation Machinery were China ($12.2B), United States ($5.53B), Germany ($5.45B), Italy ($3.56B), and Japan ($2.62B).
In 2021, the top importers of Excavation Machinery were United States ($9.68B), Germany ($4.81B), Canada ($2.73B), France ($2.55B), and Japan ($2.5B).
Trade by country
Top Origin Growth (2020 - 2021): China, $4.05B
Top Destination Growth (2020 - 2021): United States, $2.4B
Between 2020 and 2021, the exports of Excavation Machinery grew the fastest in China ($4.05B), Germany ($833M), Italy ($810M), Japan ($639M), and United States ($529M).
Between 2020 and 2021, the fastest growing importers of Excavation Machinery were United States ($2.4B), Germany ($963M), Japan ($762M), Canada ($592M), and Brazil ($559M).
Cumulative market share
This chart shows the evolution of the market concentration of exports of Excavation Machinery.
In 2021, market concentration measured using Shannon Entropy, was 4.69. This means that most of the exports of Excavation Machinery are explained by 25 countries.
TOP NET EXPORTER (2021): China, $10.2B
TOP NET IMPORTER (2021): United States, $4.14B
This map shows which countries export or import more of Excavation Machinery. Each country is colored based on the difference in exports and imports of Excavation Machinery during 2021.
In 2021, the countries that had a largest trade value in exports than in imports of Excavation Machinery were China ($10.2B), Italy ($1.92B), South Korea ($1.38B), Sweden ($734M), and Czechia ($716M).
In 2021, the countries that had a largest trade value in imports than in exports of Excavation Machinery were United States ($4.14B), Australia ($1.56B), Brazil ($1.23B), Russia ($1.02B), and United Kingdom ($774M).
In 2021, the world most traded Excavation Machinery, disaggragated by their HS6 level were Parts of cranes, work-trucks, shovels, constr... ($27.6B), Parts of lifting/handling machinery nes ($9.44B), Parts of boring or sinking machinery ($8.26B), Parts of fork-lift etc trucks ($6.36B), and Parts of lifts, skip hoist or... ($5.21B)
This visualization shows the countries that have an important ratio of their trade related to Excavation Machinery. It is possible to select the main countries that export or import Excavation Machinery in the world, or by continent, as well as select the measure of interest.
The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.
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