The average price of bicycles exported by Taiwan's bicycle industry rose by 7.65 percent in the first three quarters of 2013. While it was USD 399 in the same period last year (January to September 2012), it had already risen to USD 430 by the end of 2013. However, overall exports fell from 3.18 to 2.85 million bikes this year, which according to the TBEA (Taiwan Bike Exporters' Association) is mainly due to the economic weakness of EU countries.

Lion's share of exports goes to the EU, then NAFTA
The EU is the most important export market for Taiwan's bicycle industry. In the first three quarters of 2013, the EU imported 51.52 percent of Taiwan's total bicycle exports in terms of volume - around 1.47 million bikes. In terms of value, the EU accounted for 40.39 percent as a sales market in this period, which corresponds to around USD 495 million.

The NAFTA (North American Free Trade Area) is the second most important export market; from January to the end of September 2013, the Taiwanese sold around 19.25 percent of their exports in the NAFTA region, which corresponds to around 550,000 bikes. In terms of value, this volume corresponds to 27.25 percent of exports (USD 337 million).

Heavy decline in Japan, lower sales in EFTA
In Japan, the Taiwanese suffered a severe downturn in the first three quarters of 2013, with volumes falling by 32 percent to 160,000 units and the export value dropping to USD 68 million, a fall of 24 percent. Taiwan's export volume to EFTA (Norway, Switzerland and Iceland) reached 76,000 units, a decrease of 13 percent compared to the first three quarters of 2012. In terms of value, exports to EFTA countries amounted to USD 52 million, a decrease of 14 percent.

Plus in China, Thailand and New Zealand
While sales fell sharply in Europe and the USA, Taiwan's bicycle industry is catching up in other parts of the world. In China, Tawain increased by 233 percent in terms of volume with 220,000 bikes, and by 114 percent in terms of value with 71 million USD.

A total of 230,000 bikes were exported to Thailand, representing an increase of 47 percent; in terms of value, this corresponds to a volume of USD 8 million and a growth in value of 59 percent. Thanks to a free trade agreement concluded with New Zealand in 2012, Taiwan was able to sell around twice as many bikes in the first three quarters of 2013 than in the same period last year - in terms of volume, this amounted to around 20,000 bikes worth USD 14 million.