Bike Exports Fall but Festive Season Brings Hope
Cambodia generated around $424 million from exporting bicycles from January to September.
- By Ou Sokmean
- October 11, 2023 12:55 PM
PHNOM PENH – Cambodia generated around $424 million from exporting bicycles from January to September. The figure, however, was 43 percent down on the same period last year.
Penn Sovicheat, spokesperson for Ministry of Commerce, said the decline was due to the effect of the Russia-Ukraine war on international markets.
“Our target countries are currently rushing for food rather than materials. Bicycles are not the necessary materials for them right now. Thus, the exports decreased,” he said.
He expected that the figure would increase again by the end of the year because European countries celebrate holidays such as Christmas and would purchase more bicycles as gifts.
“In October, we have had many orders from our target markets, more than in the previous nine months,” he added.
Cambodia exports bicycles to 50 markets, mostly the US, Germany, the UK, Japan, China, ASEAN countries, Belgium, Netherlands, Austria, Sweden, Denmark, Australia and Canada.
Bicycles have become important exports for Cambodia, after garments, footwear and bags. In 2022, Cambodia generated $966 million from exporting bicycles, up 48 percent on 2021.
By 2022, there were five bicycle factories in the special economic zone in Bavet city in Svay Rieng province.
