Machinery parts; used solely or principally with the machinery of heading no. 8425 to 8430

8431 (Harmonized System 1992 for 4-digit)

About

Overview This page contains the latest trade data of Excavation Machinery. In 2022, Excavation Machinery were the world's 64th most traded product, with a total trade of $68.2B. Between 2021 and 2022 the exports of Excavation Machinery grew by 11%, from $61.4B to $68.2B. Trade in Excavation Machinery represent 0.29% of total world trade.

Excavation Machinery are a part of Machinery, mechanical appliances, & parts. They include Parts of cranes, work-trucks, shovels, constr machine, Parts of boring or sinking machinery, Parts of lifting/handling machinery nes, Parts of fork-lift etc trucks, Parts of lifts, skip hoist or escalators, Buckets, shovels, grabs etc for excavating machinery, Parts of hoists and winches, and Bulldozer and angledozer blades.

Exports In 2022 the top exporters of Excavation Machinery  were China ($15.1B), United States ($6.47B), Germany ($5.45B), Italy ($3.69B), and Japan ($2.71B).

Imports In 2022 the top importers of Excavation Machinery were United States ($11.6B), Germany ($5.17B), Canada ($3.26B), Japan ($2.75B), and France ($2.66B).

Ranking Excavation Machinery ranks 184th 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.

Latest Data

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The following visualization shows the latest trends on Excavation Machinery. Countries are shown based on data availability.

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

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* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Historical Data

Exporters and Importers

Top Origin (2022)China$15.1B
Top Destination (2022)United States$11.6B

In 2022 Excavation Machinery were the world's 64th most traded product (out of 1,218).

In 2022, the top exporters of Excavation Machinery were China ($15.1B), United States ($6.47B), Germany ($5.45B), Italy ($3.69B), and Japan ($2.71B).

In 2022, the top importers of Excavation Machinery were United States ($11.6B), Germany ($5.17B), Canada ($3.26B), Japan ($2.75B), and France ($2.66B).

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Exporters of Excavation Machinery (2022)
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Importers of Excavation Machinery (2022)
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Market Dynamics

Color
Top Origin Growth (2021 -  2022)China$2.99B
Top Destination Growth (2021 -  2022)United States$1.93B

Between 2021 and 2022, the exports of Excavation Machinery grew the fastest in China ($2.99B), United States ($931M), Mexico ($333M), India ($262M), and Canada ($239M).

Between 2021 and 2022, the fastest growing importers of Excavation Machinery were United States ($1.93B), Indonesia ($486M), Canada ($473M), Germany ($369M), and Mexico ($330M).

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Exporters of Excavation Machinery (2021 - 2022)

Importers of Excavation Machinery (2021 - 2022)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Excavation Machinery.

In 2022, market concentration measured using Shannon Entropy, was 4.62. This means that most of the exports of Excavation Machinery are explained by 24 countries.

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Value of Exports in Excavation Machinery

Net Trade

TOP NET EXPORTER (2022)China$13.4B
TOP NET IMPORTER (2022)United States$5.17B

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 2022.

In 2022, the countries that had a largest trade value in exports than in imports of Excavation Machinery were China ($13.4B), Italy ($1.87B), South Korea ($1.41B), Czechia ($790M), and Mexico ($693M).

In 2022, the countries that had a largest trade value in imports than in exports of Excavation Machinery were United States ($5.17B), Australia ($1.73B), Brazil ($1.47B), Indonesia ($1.11B), and Russia ($991M).

Net Trade (2022)

Disaggregation

Value

In 2022, the world most traded Excavation Machinery, disaggragated by their HS6 level were Parts of cranes, work-trucks, shovels, constr... ($31.6B), Parts of lifting/handling machinery nes ($9.92B), Parts of boring or sinking machinery ($9.23B), Parts of fork-lift etc trucks ($6.74B), and Parts of lifts, skip hoist or... ($5.54B)

HS6 Disaggregation for Excavation Machinery (2022)
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Country Comparison

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Ranking

This visualization shows the countries that have an important ratio of their trade related to Excavation Machinery.
It is possible to select the main countries that export or import Excavation Machinery in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Excavation Machinery by percentage of total exports

Product Complexity

Diversification Frontier

Specialization

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.

Relatedness vs Country Complexity (2022)

Country by Relatedness

The following visualization shows the relatedness of Excavation Machinery to countries. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relative Relatedness by Country (2022)

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