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2022
Exports $15.1BWorld Rnk 1 / 221
Flag Rnk 51 / 1216
2022
Destination $659M United States
2021 - 2022
FASTEST GROWING MARKET $659MUnited States
2022
PRODUCT COMPLEXITY IN Excavation Machinery0.96Rnk 185 / 1025
2022
Imports $1.76BWorld Rnk 10 / 224
Flag Rnk 156 / 1212
2022
Origin $23.6M Germany
2021 - 2022
FASTEST GROWING ORIGIN $23.6MPoland
2022
ECONOMIC COMPLEXITY of China1.12Rnk 22 / 133

About

Exports In 2022, China exported $15.1B in Excavation Machinery, making it the 1st largest exporter of Excavation Machinery in the world. At the same year, Excavation Machinery was the 51st most exported product in China. The main destination of Excavation Machinery exports from China are: United States ($2.75B), Japan ($1.83B), South Korea ($682M), Brazil ($678M), and Australia ($599M).

The fastest growing export markets for Excavation Machinery of China between 2021 and 2022 were United States ($659M), Russia ($204M), and Brazil ($194M).

Imports In 2022, 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 156th most imported product in China. China imports Excavation Machinery primarily from: Germany ($326M), Japan ($294M), South Korea ($197M), United States ($157M), and Italy ($92.7M).

The fastest growing import markets in Excavation Machinery for China between 2021 and 2022 were Poland ($23.6M), United States ($9.92M), and Chinese Taipei ($7.44M).

COMPANIES In 2023, leading companies such as Konecranes (331), Schindler Elevators (329), and CNH Industrial (103) were at the forefront of shipping Excavation Machinery from China to the United States.

Latest Trends

October 2024

About

Overview In October 2024 China's Excavation Machinery exports accounted up to $1.22B and imports accounted up to $132M, resulting in a positive trade balance of $1.09B. Between October 2023 and October 2024 the exports of China's   Excavation Machinery have increased by $154M (14.5%) from $1.07B to $1.22B, while imports decreased by $-1.93M (-1.45%) from $134M to $132M.

Destinations In October 2024, Excavation Machinery were exported mostly to United States ($160M), Russia ($113M), Japan ($104M), Brazil ($60.1M), and India ($50.2M), and were imported mostly from Germany ($33.9M), South Korea ($20.1M), Japan ($18.1M), Malaysia ($8.45M), and United States ($7.28M).

Growth In October 2024, the increase in Excavation Machinery's year-by-year exports was explained primarily by an increase in exports to Brazil ($26M or 50.5%), Russia ($15.6M or 38.3%), and India ($13.8M or 29.6%). In October 2024, the decrease in Excavation Machinery's year-by-year imports was explained primarily by a decrease in imports from South Korea ($-18.5M or -60.9%), Japan ($-8.85M or -26.7%), and Malaysia ($-7.24M or -73.7%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$154M(14.5%)
IMPORT GROWTH (October 2023 - October 2024)$-1.93M(-1.45%)
MAIN EXPORTER (October 2024)Jiangsu Province$313M
MAIN DESTINATION (October 2024)United States$160M

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 (2022)$15.1B
IMPORTS (2022)$1.76B
NET TRADE (2022)$13.4B

In 2022, China exported $15.1B in Excavation Machinery. The main destinations of China exports on Excavation Machinery were United States ($2.75B), Japan ($1.83B), South Korea ($682M), Brazil ($678M), and Australia ($599M).

In 2022, China imported $1.76B in Excavation Machinery, mainly from Germany ($326M), Japan ($294M), South Korea ($197M), United States ($157M), and Italy ($92.7M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Excavation Machinery EXPORT MARKETS FOR China WERE (2021 - 2022):
United States$659M (31.5%)
Russia$204M (63.8%)
Brazil$194M (39.9%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Excavation Machinery BY China WERE (2021 - 2022):
Hong Kong-$53.5M (-22.9%)
Ukraine-$8.21M (-49.6%)
Senegal-$6.61M (-42.3%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, China's main exporting competitors in Excavation Machinery were:
United States $6.47B
Germany $5.45B
In 2022, China's main importing competitors in Excavation Machinery were:
United States $11.6B
Germany $5.17B
Canada $3.26B

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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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