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Taiwan Bicycle Industry Exports Recovered for the First Three Quarters of 2018

Taiwan Bicycle Industry Exports Recovered for the First Three Quarters of 2018, Export Value Up 14.2% While Volume Fell Slightly

Source: Taiwan International Trade Shows | Updated: 05 November 2018 

According to preliminary figures released by the Customs Administration, Ministry of Finance, for January through September 2018, Taiwan complete bicycle export reached 1.65 million units, valued at USD 1.09 billion. Export value rose 14.2% compared with the same period in 2017, while volume fell 6.9%. Average unit price leaped above USD 600 for the first time, at USD 658.83, increasing 22.66% for the same period year-to-year.

With the expansion of production capacity, e-bike export soared in volume (195,000 units, +47.93%) and in value (USD 269 million, +51.84%). Average unit price grew to USD 1,378 (+2.64%). Parts and components export also climbed to USD 1 billion (+14.19%), gaining 4.05% in volume, at 36.33 million kilograms.

By region complete bicycle export to NAFTA and EU accounted for 27.47% and 49.7% of the total respectively, with average unit prices at USD 837.87and USD 526.99. 77.17% of all complete bicycles made in Taiwan was destined for these two regions. The Netherlands and UK were key markets for Taiwan bicycles in Europe. US alone accounted for 23.84% of the total export of complete bicycle from Taiwan, with average unit price at USD 838.11, indicating the preference for high-end products. The average unit price for EU was USD 526.99, surging 35.5% compared with the same period in 2017. However, it was still lower than the global average. For major export markets in the EU (in the order by volume from high to low: the Netherlands, UK, Sweden, Germany, Belgium and Poland), average unit price was above the global average only for the Netherlands and Belgium, at USD 880.09 and USD 890.45 respectively.

For the rest of the world, Taiwan export to Japan, Australia, China and South Korea also enlarged. Japan had always been a major market for Taiwan bicycles in Asia, ranked the 4th in terms of global total export volume for the first 3 quarters of 2018 and valued at USD 53.88 million. Commuters drove much of the demand for bicycles in Japan. Australia, sourcing for the summer peak season in the Southern Hemisphere, ranked the 7th (59,000 units) in export volume and the 5th (USD 53.53 million) in export value, with high average unit price at USD 895.61. China and South Korea were among the top 10 markets worldwide for Taiwan bicycles for the first time, ranking the 9th and the 10th and valued at USD 24.66 million and USD 24.42 million respectively. The average unit price for South Korea sky rocked to over USD 1000, at USD 1,105.

The Netherland, US, Germany, UK, and Slovenia were the top 5 markets for Taiwan e-bikes, exporting 50,000 units, 37,000 units, 28,000 units, 15,000 units and 11,000 units respectively. Export of other brakes and parts (CCC Code: 87149490009) grew the most among bicycle parts and components, with volume reaching 2.16 million kilograms and value reaching USD 85.20 million for January through September 2018.

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