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2023
Exports $14.9BWorld Rnk 1 / 221
Flag Rnk 48 / 1215
2023
Destination $345M United States
2022 - 2023
FASTEST GROWING MARKET $345MRussia
2023
PRODUCT COMPLEXITY IN Excavation Machinery1.14Rnk 128 / 1025
2023
Imports $1.76BWorld Rnk 10 / 224
Flag Rnk 154 / 1214
2023
Origin $73M Germany
2022 - 2023
FASTEST GROWING ORIGIN $73MGermany
2023
ECONOMIC COMPLEXITY of China1.16Rnk 21 / 132

About

Exports In 2023, China exported $14.9B in Excavation Machinery, making it the 1st largest exporter of Excavation Machinery in the world. At the same year, Excavation Machinery was the 48th most exported product in China. The main destination of Excavation Machinery exports from China are: United States ($2.24B), Japan ($1.68B), Russia ($868M), India ($803M), and South Korea ($576M).

The fastest growing export markets for Excavation Machinery of China between 2022 and 2023 were Russia ($345M), United Arab Emirates ($223M), and India ($132M).

Imports In 2023, 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 154th most imported product in China. China imports Excavation Machinery primarily from: Germany ($417M), Japan ($285M), South Korea ($178M), United States ($159M), and Malaysia ($83.3M).

The fastest growing import markets in Excavation Machinery for China between 2022 and 2023 were Germany ($73M), United States ($25.4M), and Singapore ($21.7M).

COMPANIES In 2024, leading companies such as Schindler Elevators (82), Advance Auto Parts (70), and CNH Industrial (67) were at the forefront of shipping Excavation Machinery from China to the United States.

Latest Trends

December 2024

About

Overview In December 2024 China's Excavation Machinery exports accounted up to $1.48B and imports accounted up to $154M, resulting in a positive trade balance of $1.32B. Between December 2023 and December 2024 the exports of China's   Excavation Machinery have increased by $285M (23.8%) from $1.19B to $1.48B, while imports increased by $17.5M (12.9%) from $136M to $154M.

Destinations In December 2024, Excavation Machinery were exported mostly to United States ($199M), Russia ($119M), Japan ($95M), Brazil ($59.1M), and India ($58.5M), and were imported mostly from Germany ($35M), Japan ($25.4M), South Korea ($14M), Italy ($9.08M), and United States ($8.37M).

Growth In December 2024, the increase in Excavation Machinery's year-by-year exports was explained primarily by an increase in exports to Russia ($31.6M or 56%), United Arab Emirates ($14.4M or 78%), and Uzbekistan ($14.1M or 731%). In December 2024, the increase in Excavation Machinery's year-by-year imports was explained primarily by an increase in imports from Malaysia ($4.97M or 192%), Singapore ($2.15M or 143%), and South Korea ($1.4M or 11.8%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2023 - December 2024)$285M(23.8%)
IMPORT GROWTH (December 2023 - December 2024)$17.5M(12.9%)
MAIN EXPORTER (December 2024)
MAIN DESTINATION (December 2024)United States$199M

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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Historical Data

Trade Balance

Color
EXPORTS (2023)$14.9B
IMPORTS (2023)$1.76B
NET TRADE (2023)$13.2B

In 2023, China exported $14.9B in Excavation Machinery. The main destinations of China exports on Excavation Machinery were United States ($2.24B), Japan ($1.68B), Russia ($868M), India ($803M), and South Korea ($576M).

In 2023, China imported $1.76B in Excavation Machinery, mainly from Germany ($417M), Japan ($285M), South Korea ($178M), United States ($159M), and Malaysia ($83.3M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Excavation Machinery EXPORT MARKETS FOR China WERE (2022 - 2023):
Russia$345M (65.9%)
United Arab Emirates$223M (94%)
India$132M (19.7%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Excavation Machinery BY China WERE (2022 - 2023):
United States-$589M (-20.8%)
Brazil-$292M (-44%)
Japan-$218M (-11.5%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, China's main exporting competitors in Excavation Machinery were:
Germany $7.05B
United States $6.46B
In 2023, China'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 POTENTIALIndia+ $402M
TOP IMPORT POTENTIALUnited States+ $86.6M

Excavation Machinery’s highest export potential is India. With an export gap of $402M.   Excavation Machinery’s highest import potential is United States with an import gap of $86.6M.

See methodology.

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