TAIPEI (BRAIN) — Taiwan exported nearly $2 billion worth of bikes, e-bikes and bike components in the first four months this year, up 28% from the same period last year.
The figures from the country's Ministry of Economic Affairs and the Taiwan Bicycle Association show that exports of components grew the most, while revenue generated by the exports of e-bikes is projected to exceed that of traditional bicycles this year.
North America and the European Union remain the biggest markets for Taiwan's e-bike exports.
Component exports grew by 42.7% in the period, to a total value of over $1 billion (all figures are U.S. dollars). The export of complete non-electric bicycles increased by almost 20% while the export of e-bikes went up by 12.8%.
The MOEA and TBA also released export figures for the full calendar year 2021. In that year, Taiwan's total export value of bike products reached $5.15 billion, nearly 40% higher than in 2020. Components increased by 56.7% and e-bikes grew by 33.2%. Complete non-electric bicycles grew by 19.1% in 2021.
Taiwan's top three export markets in 2021 were the United States (24.3%), the Netherlands (17.5%) and Germany (13.1%).
Last year the growth of e-bike exports to the NAFTA region increased by more than 70%. The export value of e-bikes to the European Union was up 15.68%. Exports of e-bikes to the U.S. were up 75.7% E-bikes grew even more significantly, by 75.72% last year, amounting to almost $380 million.
The TBA will release more industry statistics at its traditional opening-day press conference at Eurobike next week.
