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.
PATENTS: MediaTek Inc said it would not comment on ongoing legal cases, but does not expect the legal action by Huawei to affect its business operations Smartphone integrated chips designer MediaTek Inc (聯發科) on Friday said that a lawsuit filed by Chinese smartphone brand Huawei Technologies Co (華為) over alleged patent infringements would have little impact on its operations. In an announcement posted on the Taiwan Stock Exchange, MediaTek said that it would not comment on an ongoing legal case. However, the company said that Huawei’s legal action would have little impact on its operations. MediaTek’s statement came after China-based PRIP Research said on Thursday that Huawei filed a lawsuit with a Chinese district court claiming that MediaTek infringed on its patents. The infringement mentioned in the lawsuit likely involved
Taipei is today suspending work, classes and its US$2.4 trillion stock market as Typhoon Gaemi approaches Taiwan with strong winds and heavy rain. The nation is not conducting securities, currency or fixed income trading, statements from its stock and currency exchanges said. Authorities had yesterday issued a warning that the storm could affect people on land and canceled some ship crossings and domestic flights. Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) expects its local chipmaking fabs to maintain normal production, the company said in an e-mailed statement. The main chipmaker for Apple Inc and Nvidia Corp said it has activated routine typhoon alert
GROWTH: TSMC increased its projected revenue growth for this year to more than 25 percent, citing stronger-than-expected demand for AI devices and smartphones The Taiwan Institute of Economic Research (TIER, 台灣經濟研究院) yesterday raised its forecast for Taiwan’s GDP growth this year from 3.29 percent to 3.85 percent, as exports and private investment recovered faster than it predicted three months ago. The Taipei-based think tank also expects that Taiwan would see a 8.19 percent increase in exports this year, better than the 7.55 percent it projected in April, as US technology giants spent more money on artificial intelligence (AI) infrastructure and development. “There will be more AI servers going forward, but it remains to be seen if the momentum would extend to personal computers, smartphones and
CHANGE OF FORTUNES: Concern over a pricey valuation and the risk of tighter US curbs on chip sales to China have poured cold water on TSMC’s bullish momentum Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) shares fell the most in three months yesterday upon trading resumption, joining a global technology rout as investors dramatically soured on the promises of artificial intelligence (AI). The shares declined 5.62 percent to close at NT$924 in Taipei, dragging down the benchmark TAIEX, which fell 3.29 percent to 22,119.21 points amid a technical correction, Taiwan Stock Exchange data showed. Other chip stocks also fell, with ASE Technology Holding Co (日月光投控) plunging 9.86 percent, MediaTek Inc (聯發科) dropping 2.35 percent, Realtek Semiconductor Corp (瑞昱) falling 1.33 percent and United Microelectronics Corp (聯電) retreating 1.17 percent, while Apple