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Taiwan’s electric bicycle exports top traditional bike sales

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Taiwan’s electrical bicycle exports prime conventional bike gross sales

Taipei, June 12 (CNA) Taiwan’s exports of electrical bicycles surpassed outbound gross sales of conventional bikes within the first 5 months of this yr, with the export worth of the previous hitting a brand new excessive for the five-month interval, in line with the Ministry of Finance (MOF).

Knowledge compiled by the ministry confirmed Taiwan’s electrical bike exports totaled US$550 million from January-Might, up 44.2 p.c from a yr earlier, in contrast with US$530 million generated by conventional bike producers, up 38 p.c from a yr earlier.

Rising tensions between the USA and China prompted international electrical bike consumers to shift their orders to Taiwan, whereas a rising consciousness of environmental safety points paved the best way for a rise in electrical bike shipments, The MOF mentioned.

Electrical bikes grew to become a brand new driver to Taiwan’s car and element export progress within the 5 month interval, when the worth hit US$5.32 billion, up 41.2 p.c from a yr earlier, the MOF added.

The decrease progress in conventional bikes mirrored a fall in world demand because the world’s economic system was hit by the COVID-19 pandemic and there was a rise in bike sharing worldwide, the ministry mentioned.

The US was the biggest purchaser of Taiwan-made electrical bikes, accounting for 39.3 p.c of complete outbound gross sales within the 5 month interval, whereas Europe was the highest international purchaser of conventional bikes from Taiwan, making up 67 p.c of the overall.

Knowledge on car and half exports from Taiwan cowl passenger automobiles and elements in addition to bicycles and bike elements, in line with the MOF.

Within the 5 month interval, bike element exports from Taiwan totaled US$1.74 billion, up 65.2 p.c from a yr earlier with Europe the biggest purchaser, accounting for 53.6 p.c of complete gross sales, forward of the U.S. (14.0 p.c) and the Affiliation of Southeast Asian Nations (ASEAN) bloc (12.0 p.c), the ministry mentioned.

Bike elements accounted for a better share of auto and element gross sales within the 5 months, the MOF mentioned, making up 32.8 p.c of complete gross sales, in contrast with 30.7 p.c in 2020.

Passenger automotive exports from Taiwan totaled US$400 million within the first 5 months of the yr, up 47.7 p.c from a yr earlier, the MOF mentioned citing the consequences of financial reopening all over the world amid COVID-19.

The Center East was the biggest purchaser of Taiwan’s passenger automobiles, with purchases accounting for 43.3 p.c of the overall within the 5 month interval, however the progress moderated from greater than 80 p.c seen lately, a mirrored image of the area’s weaker economic system.

The U.S. was the second largest purchaser of Taiwan’s passenger automobiles within the 5 month interval, making up 17.2 p.c from a yr earlier on the again of robust demand for all terrain autos, forward of Europe (14.8 p.c) and China/Hong Kong (14.4 p.c), the MOF mentioned.

(By Wu Chia-jung and Frances Huang)

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