China’s exports of bicycle surge 13.7 percent in Q1
Date
5/12/2024 9:44:28 AM
(MENAFN) According to a report from an industry association, China's bicycle exports demonstrated significant expansion during the first quarter of this year, extending the recovery trend observed since the latter half of 2023. Data compiled by the China Bicycle Association revealed that the country's bicycle exports surged to nearly 11 million units in the first quarter, marking a notable increase of 13.7 percent compared to the previous quarter of last year.
A closer examination of the export destinations highlights the robust demand for Chinese bicycles across key markets. Specifically, China exported approximately 2.3 million bicycles to the United States during the period, representing a remarkable surge of 47.2 percent year-on-year. Similarly, exports to Russia witnessed a substantial increase of 52.1 percent year-on-year, reaching 930,000 units.
Moreover, the data revealed a positive trend in the export value of bicycle parts and accessories from China, which reached $746 million during the first quarter of this year. This represents a significant uptick of 10.8 percent compared to the same period in 2019, indicating sustained demand for Chinese bicycle components globally.
Looking back at the broader trends, the data also shed light on China's overall bicycle manufacturing landscape. In 2023, China produced a staggering 48.83 million bicycles, reaffirming its position as a leading global manufacturer in the industry. Furthermore, the country exported nearly 39.65 million units, highlighting its significant role in meeting global demand for bicycles.
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