Taiwan’s Bike Export to Europe Booming Again
After a close to 15% drop in the country’s bike export to the EU in 2009; Taiwan’s deliveries to Europe are now booming again. During the second quarter of this year exports of complete bicycles surged by
TAIPEI, Taiwan – After a close to 15% drop in the country’s bike export to the EU in 2009; Taiwan’s deliveries to Europe are now booming again. During the second quarter of this year exports of complete bicycles surged by 31% in value compared to the same quarter in 2009.
Taiwan’s bike makers saw the value of their exports zoom ahead in the second quarter of 2010 after the global economy recovered. Exports surged to US$ 289 million (€ 224 mn).
The European Union, Taiwan’s largest bike market, led growth with a 66% gain to US$ 147 million (€ 114 mn), accounting for more than half the value of Taiwan’s total exports during the second quarter.
The main EU nations contributing to the increase were The Netherlands with a 69% increase to US$ 33 million (€ 26 mn) and Spain, which more than doubled imports of Taiwan bikes to US$ 11 million (€ 9 mn). Striking is the fact that the two major Taiwanese bike brands Giant and Merida – have through subsidiaries a strong foothold in the two countries.
With regard to the huge increase in export value, it has to be taken into account that already in 2009 the value of Taiwan’s export to Europe increased with double digit figures, contrary to the number of biked exported. Last year that total number stood at 2,853,000; 14.6% down on the 3,343,000 bikes imported into the EU in 2008, says EU’s data bureau Eurostat. Average value of a Taiwan made bike imported in 2009 stood at € 164.28; up 21.8% compared to the € 134.91 average value per unit in 2008.