Taiwan bicycle export value on the rise

The mission set out by the Taiwan Bicycle Association to improve the quality and average FOB prices of Taiwan-made products has proved successful and continued into 2022. While the assembly of bicycles made its way to other low-cost countries in the region like Vietnam and Cambodia, Taiwan hasn’t lost its once leading position completely.

The total export volume of bicycles declined by only 1.7% to 1,925,295 units in 2022. On the contrary, the total export value hiked by 23% from €1.2 billion in 2021 to €1.5 billion last year. Between 2021 and 2022, the average FOB price of bicycles jumped from €617 to €772. While the bicycle export volumes gets slightly less and less, the number of shipped e-bikes is still on the rise. As mentioned on page 2 of this online magazine 1,038,021 million e-bikes were shipped in 2022 from Taiwan, an increase of 4.9% compared with 2021.

Massive investments in Europe

In some relevant EU countries like France, Italy and Austria, the Taiwanese bicycle manufacturers regained a bigger market share. Still, it also lost 9.5% of its export volume to the biggest market in the EU: the Netherlands. The total export of bicycles to the EU decreased by 3.98% from 547,633 units in 2021 to 525,852 in 2022. The massive investments in bicycle assembly in Europe, particularly in countries like Portugal, Bulgaria and Romania are certainly one of the reasons for this reduction in bicycle export.