Taiwan Bike Export to EU Up 25%

BIKE EUROPE: TAIPEI, Taiwan – Taiwan’s overall bike exports to the EU-15 increased with a staggering 25.8% in the first ten months of 2004 from a year earlier to 2,054,066 units. The whole of the Taiwanese bike industry exported 3,558,000 bicycles during the January through October period, up 10.9% from one year earlier, and the export value posted a much higher annual growth of 19.3% to reach US$ 495 million (€ 375mn), according to statistics compiled by the Taiwan Bicycle Exporters' Association (TBEA). The double-digit increase was attributed to shifts in production from China to Taiwan. Exports to the US increased 5.2%. As for shipments to specific EU countries; export to Belgium in particular increased in big numbers with 36.1% to 336,000; second came the UK with a plus of 26.5% to 617,000 while Germany took third place with a 20.9% increase to 625,000 units. In value terms Taiwan’s export to the EU rose 34.9% to US$ 281.2 million (€ 212.9 mn). Taiwan's top two bicycle makers, Giant Manufacturing Co., Ltd. and Merida Industry Co., Ltd., scored record annual revenues in 2004. Giant shipped some 820,000 bicycles from its Taiwan plants, with an average unit price of TWD 9,400 (€ 217.50) in the first 11 months of 2004. Total revenue of Giant Taiwan during that period was TWD 8.5 billion (€ 196.8 mn); up 27.3% from the same period in 2003. Merida also enjoyed a very positive year and posted sales of TWD 4.54 billion (€ 105.0 mn) for the first 11 months, up 14.9%. The company's average FOB price is maintained at the level of over TWD 10,660 (€ 246.57).