cens logo

Taiwan's Bicycle Exports Struggle in First Half of 2020

2020/09/16 | By CENS

According to the Taiwan Bicycle Association, Taiwan's bicycle exports (including the entire product, electric bicycle, and parts) saw a decline from January to July this year.

The Taiwan Bicycle Association's statistics show the entirety of export value was at USD$1.905 billion, a 4.29%-decline compared to the same period last year. The data was cited from the Ministry of Economic Affairs Bureau of Foreign Trade, which included exports and re-export figures.

In the first half of 2020, Taiwan exported 905,000 bicycle units, a 29.7%-decline compared to last year, which valued at USD$582 million (-22.38%). On average, each unit was priced at USD$644.07. Electric bicycles saw a better performance buoyed by order growth, reporting 409,000 units exported, and valued at USD$522 million, increasing 20.78% and 18.03%. On average, each unit was priced at USD$1275.75, yet a 2.27% decline compared to last year. The island was able to export 26.68 million kilograms of parts, a 2.42% drop in terms of volume, while exports were valued at USD$800 million (+0.35%)

Bicycle exports showed Taiwan's market is still reliant on heading towards higher-priced European and American markets. In the NAFTA region and EU region, the island exported 370,000 and 350,000 units, making up total exports at 41.41% and 38.44%. Both areas make up a whopping 79.85% of Taiwan's total exports. In the top 10 countries, aside from Japan (5th), and Australia (8th), the remaining rankings are other European and American countries.

However, the NAFTA and EU regions are also the hardest-hit by the COVID-19 pandemic, enforcing policies ranging from social distancing, quarantines to lockdowns throughout the first half of the year. Aside from Belgium and Australian markets, which both saw 20.96% and 22.96% increases compared to last year, all the other markets saw a drop in exports.

Exports of electric bicycles to the NAFTA and EU regions made 91.03% pf up total figures, with the Netherlands, the U.S., Germany, Sweden, and the U.K. as the top five export destinations. The report found demand for electric bikes increased in the U.S., seeing a 49.12% rise, from 66,500 units to 99,000 units compared to 2019.