2022 Brings Robust Trade Value For Bicycles
Today is World Bicycle Day. Let's talk about the 2022 EU bicycle trade.
The EU sold €1.1 billion of bikes in 2022. That's an increase of 22% from 2021. But imports were over double the exports, with €2.5 billion of bikes brought in. The rise in bike trade is due to more electric sales, which cost more.
The EU exported more electric bicycles in 2022, about 365 thousand more. That's 16% higher than in 2021. It also imported more electric bicycles, about 1.2 million more, also 16% higher than the number for 2021. However, the EU exported 1 million fewer non-electric bikes in 2022, which is a drop of 31% compared to 2021. It also imported 5.2 million non-electric bikes, which is a 9% decrease.
Top Exports Destinations: Switzerland & UK
Switzerland got the highest EU exports of non-electric bikes, having 25% value. The United Kingdom followed with 23%, and the United States had 7%. This happened in 2022.
Electric bicycles were mainly exported to Switzerland and the UK (38% and 27% respectively). The United States accounted for 13% of the total exports while Norway accounted for 9%.
Bike Imports: Cambodia & Taiwan Top Suppliers
The EU bought most of its non-electric bicycles from Cambodia (30%), Taiwan (23%), China (11%), Bangladesh (10%) and Turkey (6%) in 2022.
Most electric bicycles imported to the EU are from Taiwan. Vietnam, Switzerland, China, and Turkey also import some. Taiwan accounts for 56% of all extra-EU electric bicycle imports. Vietnam is second with 14%. Switzerland follows with 13%. China comes in fourth with 8%. Turkey is the fifth-largest importer with 5%.
