• Monday, 02 August 2021
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Bicycle Export Nets Over US$240 Million In First Semester

Bicycle Export Nets Over US$240 Million In First Semester

Cambodia exported US$247.5 million worth of bicycles to foreign markets in the first half of this year, inching down 4.2 percent compared to the same period last year. Data from Ministry of Commerce showed that from January to June, 1,259,310 units of bicycles have been shipped, up 1.8 percent from 1,236,552 units registered during last year’s first semester.

 

The major markets for Cambodia’s bicycles are the U.S., UK, EU, Canada, ASEAN countries, Japan, China, and South Korea. The Kingdom exported 452,171 units of bicycle to the U.S. with a total value of more than US$77 million, and 125,879 units to the UK worth some US$25 million.

 

The EU market ranked third, followed by Canada, Japan and China. The ministry stated that the bicycles are assembled only in special economic zones located in Svay Rieng province, at the border with Vietnam. Last year, Cambodia exported approximately US$527 million worth of bicycles to international markets, up 27 percent from 2019.

 

Source: AKP

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