Taiwan’s exports of bicycles and bicycle parts last year increased 23.11 percent annually to US$6.15 billion from US$4.99 billion the previous year, with an average annual increase of 8.2 percent over the past 10 years, the Ministry of Economic Affairs said yesterday, citing the latest customs statistics.
Bicycle parts accounted for 48 percent of the industry’s total exports, rising 26.65 percent year-on-year to US$2.95 billion, with outbound shipments of bicycle parts growing 12.7 percent annually on average in the past 10 years, the data showed.
Exports of traditional bicycles totaled US$1.63 billion last year, up 22.4 percent from 2021, but their share of the industry’s total exports fell to 26.6 percent from 26.7 percent in 2021 and from 67.5 percent in 2012 amid growing uptake of bicycle-sharing systems, the ministry said.
Photo: Ritchie B. Tongo, EPA-EFE
Exports of electric bicycles last year rose 17.7 percent annually to US$1.56 billion. The value of outbound shipments grew 57.5 percent since 2012, due mainly to a rapid growth in European and US markets, as well as the products having higher selling prices, the ministry said.
Electric bicycles accounted for 25.4 percent of the industry’s overall exports last year, compared with 26.6 percent in 2021.
The US, the Netherlands, Germany, the UK and China were the top five destinations for Taiwanese bicycles and bicycle parts last year, accounting for 63.6 percent of the industry’s total exports.
The US continued to be the largest export market last year for traditional bicycle manufacturers, and the Netherlands remained the largest market for electric bicycles, while most of bicycle-related shipments to Germany were bicycle parts.
The ministry said Taiwan’s electric bicycles have increased their market share in the US, the EU and China, thanks to more Taiwanese firms moving production of high-end models back home amid US-China trade tensions.
However, Taiwan faces rising competition from Cambodia, as the Southeast Asian country has benefited from better tariff terms for bicycle exports to Europe and the US, which have led several European and US brands to set up production bases there, the ministry said.
The EU’s imports of bicycles from Cambodia exceeded those from Taiwan for the first time in 2021, it added.
Anna Bhobho, a 31-year-old housewife from rural Zimbabwe, was once a silent observer in her home, excluded from financial and family decisionmaking in the deeply patriarchal society. Today, she is a driver of change in her village, thanks to an electric tricycle she owns. In many parts of rural sub-Saharan Africa, women have long been excluded from mainstream economic activities such as operating public transportation. However, three-wheelers powered by green energy are reversing that trend, offering financial opportunities and a newfound sense of importance. “My husband now looks up to me to take care of a large chunk of expenses,
SECTOR LEADER: TSMC can increase capacity by as much as 20 percent or more in the advanced node part of the foundry market by 2030, an analyst said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is expected to lead its peers in the advanced 2-nanometer process technology, despite competition from Samsung Electronics Co and Intel Corp, TrendForce Corp analyst Joanne Chiao (喬安) said. TSMC’s sophisticated products and its large production scale are expected to allow the company to continue dominating the global 2-nanometer process market this year, Chiao said. The world’s largest contract chipmaker is scheduled to begin mass production of chips made on the 2-nanometer process in its Hsinchu fab in the second half of this year. It would also hold a ceremony on Monday next week to
TECH CLUSTER: The US company’s new office is in the Shalun Smart Green Energy Science City, a new AI industry base and cybersecurity hub in southern Taiwan US chip designer Advanced Micro Devices Inc (AMD) yesterday launched an office in Tainan’s Gueiren District (歸仁), marking a significant milestone in the development of southern Taiwan’s artificial intelligence (AI) industry, the Tainan City Government said in a statement. AMD Taiwan general manager Vincent Chern (陳民皓) presided over the opening ceremony for the company’s new office at the Shalun Smart Green Energy Science City (沙崙智慧綠能科學城), a new AI industry base and cybersecurity hub in southern Taiwan. Facilities in the new office include an information processing center, and a research and development (R&D) center, the Tainan Economic Development Bureau said. The Ministry
State-run CPC Corp, Taiwan (CPC, 台灣中油) yesterday signed a letter of intent with Alaska Gasline Development Corp (AGDC), expressing an interest to buy liquefied natural gas (LNG) and invest in the latter’s Alaska LNG project, the Ministry of Economic Affairs said in a statement. Under the agreement, CPC is to participate in the project’s upstream gas investment to secure stable energy resources for Taiwan, the ministry said. The Alaska LNG project is jointly promoted by AGDC and major developer Glenfarne Group LLC, as Alaska plans to export up to 20 million tonnes of LNG annually from 2031. It involves constructing an 1,290km
RSS