2022
Exports
$1.28BWorld Rnk 15 / 221
Flag Rnk 54 / 1213
2022
PRODUCT COMPLEXITY IN Excavation Machinery
0.96Rnk 185 / 1025
2022
Imports
$1.36BWorld Rnk 13 / 224
Flag Rnk 59 / 1214
2022
ECONOMIC COMPLEXITY of Belgium
1.25Rnk 19 / 133

About

Exports In 2022, Belgium exported $1.28B in Excavation Machinery, making it the 15th largest exporter of Excavation Machinery in the world. At the same year, Excavation Machinery was the 54th most exported product in Belgium. The main destination of Excavation Machinery exports from Belgium are: France ($247M), Germany ($178M), Netherlands ($128M), Italy ($92.9M), and Spain ($70.3M).

The fastest growing export markets for Excavation Machinery of Belgium between 2021 and 2022 were Germany ($37.8M), Italy ($29.4M), and Finland ($21.4M).

Imports In 2022, Belgium imported $1.36B in Excavation Machinery, becoming the 13th largest importer of Excavation Machinery in the world. At the same year, Excavation Machinery was the 59th most imported product in Belgium. Belgium imports Excavation Machinery primarily from: Germany ($204M), Netherlands ($197M), France ($135M), China ($122M), and Italy ($107M).

The fastest growing import markets in Excavation Machinery for Belgium between 2021 and 2022 were South Korea ($22.3M), Japan ($20.9M), and Italy ($20.6M).

COMPANIES In 2023, leading companies such as Schindler Elevators (92), Volvo (60), and Konecranes (44) were at the forefront of shipping Excavation Machinery from Belgium to the United States.

Latest Trends

August 2024

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)€-25.7M(-30.1%)
IMPORT GROWTH (August 2023 - August 2024)€-12.5M(-17.9%)
MAIN DESTINATION (August 2024)France€8.57M

This section shows Excavation Machinery's exports and imports data at subnational level for Belgium. 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)$1.28B
IMPORTS (2022)$1.36B
NET TRADE (2022)-$74.5M

In 2022, Belgium exported $1.28B in Excavation Machinery. The main destinations of Belgium exports on Excavation Machinery were France ($247M), Germany ($178M), Netherlands ($128M), Italy ($92.9M), and Spain ($70.3M).

In 2022, Belgium imported $1.36B in Excavation Machinery, mainly from Germany ($204M), Netherlands ($197M), France ($135M), China ($122M), and Italy ($107M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Excavation Machinery EXPORT MARKETS FOR Belgium WERE (2021 - 2022):
Germany$37.8M (27%)
Italy$29.4M (46.3%)
Finland$21.4M (118%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Excavation Machinery BY Belgium WERE (2021 - 2022):
United Kingdom-$46.2M (-66.7%)
France-$23.6M (-8.72%)
Russia-$5.57M (-86.5%)

Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Belgium's main exporting competitors in Excavation Machinery were:
In 2022, Belgium's main importing competitors in Excavation Machinery were:

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Trade Value of Excavation Machinery by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALGermany+ $125M
TOP IMPORT POTENTIALGermany+ $114M

Excavation Machinery’s highest export potential is Germany. With an export gap of $125M.   Excavation Machinery’s highest import potential is Germany with an import gap of $114M.

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