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2022
Exports $1.71BWorld Rnk 11 / 221
Flag Rnk 19 / 1212
2022
Destination $26.4M United States
2021 - 2022
FASTEST GROWING MARKET $26.4MUnited States
2022
PRODUCT COMPLEXITY IN Excavation Machinery0.96Rnk 185 / 1025
2022
Imports $1.13BWorld Rnk 18 / 224
Flag Rnk 21 / 1213
2022
Origin $19.4M Germany
2021 - 2022
FASTEST GROWING ORIGIN $19.4MChina
2022
ECONOMIC COMPLEXITY of Sweden1.49Rnk 9 / 133

About

Exports In 2022, Sweden exported $1.71B in Excavation Machinery, making it the 11th largest exporter of Excavation Machinery in the world. At the same year, Excavation Machinery was the 19th most exported product in Sweden. The main destination of Excavation Machinery exports from Sweden are: United States ($201M), Norway ($129M), Germany ($122M), France ($90M), and Finland ($88.7M).

The fastest growing export markets for Excavation Machinery of Sweden between 2021 and 2022 were United States ($26.4M), Belgium ($15.8M), and France ($15.3M).

Imports In 2022, Sweden imported $1.13B in Excavation Machinery, becoming the 18th largest importer of Excavation Machinery in the world. At the same year, Excavation Machinery was the 21st most imported product in Sweden. Sweden imports Excavation Machinery primarily from: Germany ($217M), China ($137M), Poland ($128M), Italy ($69.1M), and Finland ($64.6M).

The fastest growing import markets in Excavation Machinery for Sweden between 2021 and 2022 were China ($19.4M), Poland ($18.5M), and Germany ($11.3M).

COMPANIES In 2023, leading companies such as ABB Motors and Mechanical (4) were at the forefront of shipping Excavation Machinery from Sweden to the United States.

Latest Trends

August 2024

About

Overview In August 2024 Sweden's Excavation Machinery exports accounted up to SEK1.15B and imports accounted up to SEK792M, resulting in a positive trade balance of SEK357M. Between August 2023 and August 2024 the exports of Sweden's   Excavation Machinery have decreased by SEK-56.5M (-4.69%) from SEK1.21B to SEK1.15B, while imports decreased by SEK-214M (-21.3%) from SEK1.01B to SEK792M.

Destinations In August 2024, Excavation Machinery were exported mostly to United States (SEK114M), Norway (SEK95.4M), Germany (SEK77.1M), Australia (SEK60.4M), and Finland (SEK56.2M), and were imported mostly from Germany (SEK152M), China (SEK101M), Poland (SEK89.2M), Finland (SEK65.8M), and Denmark (SEK58.5M).

Growth In August 2024, the decrease in Excavation Machinery's year-by-year exports was explained primarily by a decrease in exports to China (SEK-37.1M or -41.3%), Egypt (SEK-4.95M or -70.4%), and Turkey (SEK-4.72M or -24.5%). In August 2024, the decrease in Excavation Machinery's year-by-year imports was explained primarily by a decrease in imports from China (SEK-70.6M or -51.4%), Lithuania (SEK-5.77M or -40.6%), and South Korea (SEK-4.64M or -30.9%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)SEK-56.5M(-4.69%)
IMPORT GROWTH (August 2023 - August 2024)SEK-214M(-21.3%)
MAIN EXPORTER (August 2024)undefined1.42B
MAIN DESTINATION (August 2024)United StatesSEK114M

This section shows Excavation Machinery's exports and imports data at subnational level for Sweden. 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)$1.71B
IMPORTS (2022)$1.13B
NET TRADE (2022)$587M

In 2022, Sweden exported $1.71B in Excavation Machinery. The main destinations of Sweden exports on Excavation Machinery were United States ($201M), Norway ($129M), Germany ($122M), France ($90M), and Finland ($88.7M).

In 2022, Sweden imported $1.13B in Excavation Machinery, mainly from Germany ($217M), China ($137M), Poland ($128M), Italy ($69.1M), and Finland ($64.6M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Excavation Machinery EXPORT MARKETS FOR Sweden WERE (2021 - 2022):
United States$26.4M (15.2%)
Belgium$15.8M (49.7%)
France$15.3M (20.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Excavation Machinery BY Sweden WERE (2021 - 2022):
Russia-$65.3M (-79.4%)
Germany-$31.7M (-20.6%)
Australia-$16.6M (-16.2%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Sweden's main exporting competitors in Excavation Machinery were:
China $15.1B
United States $6.47B
Germany $5.45B
In 2022, Sweden'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 POTENTIALUnited States+ $83M
TOP IMPORT POTENTIALChina+ $55.7M

Excavation Machinery’s highest export potential is United States. With an export gap of $83M.   Excavation Machinery’s highest import potential is China with an import gap of $55.7M.

See methodology.

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