Taiwan's electric bicycle exports increased by 44% in the first five months

Taiwan's electric bicycle exports increased by 44% in the first five months, surpassing traditional bicycle exports

Taiwan’s Ministry of Finance announced that in the first five months of 2021, Taiwan’s exports of electric bicycles worth US$555 million, an increase of 44% over the same period in 2020. Compared with the same period last year, bicycle exports totaled 525 million U.S. dollars, an increase of 38%.

This is not the first time that Taiwan's electric bicycle exports have surpassed ordinary bicycle exports. In the same period last year, the total export value of electric bicycles was US$385 million, and the export value of ordinary bicycles was US$381 million.

However, for the whole year of 2020, the scale of traditional bicycles exported inland is even higher: a total of 1.21 billion U.S. dollars, while electric bicycles are 987 million U.S. dollars.

Due to the imposition of tariffs on Chinese electric bicycles in the United States and the imposition of anti-dumping duties on them in Europe, production has shifted from China to Taiwan in recent years.

The United States remains the largest importer of electric bicycles, accounting for nearly 40% of the total. Europe accounted for 53.6% of bicycle parts exports, and the United States accounted for 14%. The data also mentioned that the number of bicycle parts exported from Taiwan to Europe also increased by 65.2% year-on-year. The total export value of parts and components reached US$1.74 billion. Relevant departments said that if there were no epidemics and the decrease in bicycle supply and the trend of people using shared bicycles, the demand for bicycles would have been higher.