E-bikes Become A Key Transportation Equipment Export For Taiwan

TAIPEI, July 1 (UrduPoint / Pakistan Point News - 1st Jul, 2018 ) :The total value of Taiwan's electric bicycle exports in the first five months of this year increased 54 percent year-on-year, the highest ever in that time period, according to the Ministry of Finance.

The ministry's statistics also show that the export value of e-bikes last year was US$250 million, 17 times higher than the US$14 million registered in 2012.

Europe is Taiwan's biggest market for e-bikes, accounting for 68 percent of total exports, followed by the United States at 22 percent, the ministry said, attributing the rise in exports to the surge in popularity of e-bikes in those markets.

The ministry said e-bikes have become one of the nation's main exports in the category of transportation equipment, which previously mainly consisted of auto parts, motor vehicle parts and bicycle components.

Europe is also the No. 1 destination for Taiwan made bicycles, accounting for 43 percent in the first five months of this year, while about 32 percent of Taiwan's bicycle exports went to the U.S. in the same period, the ministry's data showed.

Taiwan saw a 15.4 percent year-on-year growth in exports of bicycles in the first five months of this year, a reversal of the double-digit decline the bike industry posted in 2016 and 2017 amid weaker global demand for bicycles, according to the ministry.