Cambodia’s Export to EU Skyrockets
AMSTERDAM, the Netherlands – Despite the depressed market conditions throughout Europe in 2013 Cambodia’s export to the EU skyrocketed. The country is well under way to take over Taiwan’s leading position in bike export to Europe.
Between January and October 2013 Cambodia’s bike export showed a huge increase of no less than 55% to 1,211,654 exported units. Cambodia is now the second biggest bicycle exporter to Europe after Taiwan. Europe’s latest import statistics also show that the number one bike supplier for Europe, Taiwan is quickly losing ground.
Taiwan: twofold decline
Taiwan’s export declined by 19.9% from 2,028,290 to 1,625,415 units compared to 2012. In the same period the average value of these exported bikes dropped as well, from € 272.34 to € 260.85. This twofold decline resulted in a worsening of the Taiwan’s bicycle export value of 23.2% from € 552 million to € 423 million.
GSP+ duty free export status
Cambodia benefits from the its EU General System of Preferences (GSP+) duty free export status to Europe in combination with low labor costs. The spurs a continued growth of the number of bike manufacturers in this country. Currently there are six bike-making facilities of which five are of Taiwanese origin. Even premium brands like Specialized are now having their bikes being assembled in Cambodia, were the average value per to the EU exported unit has reached € 175. Only Taiwan also manages to export such high priced bikes.
Other rising stars
Cambodia is not the only rising star on the horizon. Other countries that show a double digit increase in their export volume to Europe are the Philippines (+ 13.2%), China (+ 38.9%) and Bangladesh (+ 7.4%). For more click here: