Overview: This page contains the latest trade data of Excavation Machinery. In 2019, Excavation Machinery were the world's 49th most traded product, with a total trade of $58.7B. Between 2018 and 2019 the exports of Excavation Machinery decreased by -1.61%, from $59.7B to $58.7B. Trade in Excavation Machinery represent 0.32% of total world trade.
Exports: In 2019 the top exporters of Excavation Machinery were China ($9.52B), United States ($6.47B), Germany ($5.24B), Italy ($3.4B), and Japan ($2.67B).
Imports: In 2019 the top importers of Excavation Machinerywere United States ($9.18B), Germany ($4.43B), Canada ($2.63B), France ($2.42B), and China ($2.21B).
Tariffs: In 2018 the average tariff for Excavation Machinery was 4.75%, making it the 867th lowest tariff using the HS4 product classification.
Ranking: Excavation Machinery ranks 215th 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.
Excavation Machinery are the world's 49th most traded product.
In 2019, the top exporters of Excavation Machinery were China ($9.52B), United States ($6.47B), Germany ($5.24B), Italy ($3.4B), and Japan ($2.67B).
In 2019, the top importers of Excavation Machinery were United States ($9.18B), Germany ($4.43B), Canada ($2.63B), France ($2.42B), and China ($2.21B).
Between 2018 and 2019, the fastest growing importers of Excavation Machinery were Trinidad and Tobago ($295M), Oman ($163M), Guyana ($126M), Kuwait ($104M), and Hong Kong ($94.7M).
This chart shows the evolution of the market concentration of exports of Excavation Machinery.
In 2019, market concentration measured using Shannon Entropy, was 4.77. This means that most of the exports of Excavation Machinery are explained by 27 countries.
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 2019.
In 2019, the countries that had a largest trade value in exports than in imports of Excavation Machinery were China ($7.31B), Italy ($2.02B), South Korea ($1.54B), Germany ($808M), and Sweden ($799M).
In 2019, the countries that had a largest trade value in imports than in exports of Excavation Machinery were United States ($2.71B), Australia ($1.18B), Russia ($948M), Indonesia ($883M), and Saudi Arabia ($666M).
In 2018, the average tariff for importing Excavation Machinery was 4.75%. The countries with the highest tariffs for importing Excavation Machinery were Bahamas (40.2%), Bermuda (35%), Maldives (19.7%), Jordan (15.6%), and Cambodia (15%).
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.