Cambodia has since 2017 become ASEAN’s leading supplier of bicycles to the EU, according to Bike Europe and over the past eight months, the country exported 1.86 million bicycles into the international market, Phnom Penh reports.
According to Ministry spokesman Seang Thay, 50 countries globally import bicycles from Cambodia and the Nordic countries of Denmark and Sweden are amongst countries highlighted as notable buyers. Other countries classified as notable buyers include the US, Germany, Belgium, the UK, Australia, Austria, the Netherlands, and the Czech Republic.
Before 2017, Taiwan held the position as the leading supplier of bicycles to the EU but the Cambodian bicycle export market has remained in positive territory in recent years, ascribing the current upswing to a combination of factors, Ministry spokesman Seang Thay said.
Cambodia exported last year $527.08 million worth of bicycles, marking a 27.78 percent year-on-year surge, emerging as ASEAN’s largest exporter and world number-five, according to the Ministry of Commerce.
So far this year, from January to August 2021, the export of bicycles from Cambodia has accounted for $416.85 million, as reported by the Ministry and the number represents a jump of $82.17 million or 24.55 percent from the $334.67 million recorded from the same period last year, the ministry noted.