Cambodia exported $505 million worth of bicycle goods to the European Union in the first half of 2022, Cambodia’s Office of the Council of Ministers confirmed.
Heng Sokkung, Secretary of State and spokesman for the ministry confirmed that Cambodia is the world’s fifth largest exporter in the bicycle industry and the number one exporter to the European Union.
Cyclingindustry.com reported that the Kingdom “has played its part in filling a void left by a decline in Chinese exports, affected by anti-dumping duties, among other headwinds” and that where Europe sources its bicycle goods, in particular, electric bikes has changed over recent years.
However Cambodia has been among the top bicycle export to EU for a few years and Sokkung said: “Before 2020, China was the number one exporter to the European Union, followed by Taipei city. But it changed from 2020 as Cambodia became the largest exporter of bicycles to the EU, accounting for 24 per cent of the EU’s total imports, followed by China at 17 per cent and Taipei at 11 per cent.”
In total there are now 13 large-scale industrial bicycle producers in Cambodia who have invested $112 million in the country’s production. Bicycles were not among the products affected by the partial withdrawal of the EU’s Everything But Arms trade deal in 2020 which exempts the bicycle manufacturer shipments from the EU’s 14% import duty, but they do still pay duties of 6% for electric bicycles.
In total, exports rose by 144 per cent to $505 million in the first half of 2022. Between January-April alone, Cambodia exported more than $300 million worth of bicycles to international markets. The US was the biggest buyer, accounting for $129.34 million, followed by Germany at $47.99 million.
Other importers of Cambodia bicycle goods include the United States, China, Australia and Canada as well as the UK.
Cambodia currently operates within the UK GSP Least Developed Country Framework, which means there is no import duty on all goods outside of ammunition. Cambodia is listed as a UK Generalised Scheme of Preferences nation as part of the Least Developed Countries framework added the media outlet.
- In 2020, Cambodia maintained its position as the leading bicycle exporter to the EU (European Union).
- The export of Cambodia’s bicycles increased by 71.32 percent year-on-year in 2021 to $566.2 million according to the Ministry of Industry, Science, Technology and Innovation.
- In previous years the total bicycle exports reached $412.5 million in 2019 and $331 million in 2018.