TAIWAN’S ELECTRIC BICYCLE EXPORTS ZOOM 44.2%

Taiwan's exports of electric bicycles topped outbound sales of traditional bikes in the first five months of this year, with the export value of the former hitting a new high, according to the Ministry of Finance (MOF), Wu Chia-jung and Frances Huang reported for the Central News Agency (CNA).

Data compiled by the ministry showed Taiwan's electric bike exports totaled $550 million from January-May, up 44.2 percent from a year earlier, compared with $530 million generated by traditional bike producers, up 38 percent from a year earlier.

Rising tensions between the United States and China prompted foreign electric bike buyers to shift their orders to Taiwan while growing awareness of environmental protection issues paved the way for an increase in electric bike shipments, The MOF said.

Electric bikes became a new driver to Taiwan's vehicle and component export growth in the five-month period, when the value hit $5.32 billion, up 41.2 percent from a year earlier, the MOF added.

The slower growth in traditional bikes reflected a fall in global demand as the world's economy was hit by the COVID-19 pandemic and there was an increase in bike-sharing worldwide, the ministry said.

The United States was the largest buyer of Taiwan-made electric bikes, accounting for 39.3 percent of total outbound sales in the five-month period, while Europe was the top foreign buyer of traditional bikes from Taiwan, making up 67 percent of the total.

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