Cambodia’s Bicycle Export Valued at Nearly US$200 Million in First Five Months
AKP Phnom Penh, June 25, 2020 —
Cambodia exported locally assembled bicycles of 876,612 units to foreign markets in the first five months this year, a 19 percent increase compared to the same period of last year.
Statistics from the General Department of Customs and Excises show that from January to May, Cambodia exported over US$197 million worth of bicycles, up 26 percent.
The biggest market for Cambodia’s locally assembled bicycles is the European Union, followed by the U.S., the United Kingdom, and Japan
In breaking down, 495,341 bicycles were shipped to the EU, and 223,912 others to the U.S. worth US$119 million and US$44 million, respectively.
At the same time, 125,602 units of US$25 million were bought by the United Kingdom, while 338 units of US$94,137 were sold to Japan, and 31,419 units of more than US$8 million to other markets.
The bicycle assembly sector is attracting both world-renowned bike manufacturers and accessories factories to invest in Cambodia, mainly at special economic zones in Bavet city, Svay Rieng province.
Last year, Cambodia exported US$418 million worth of bicycles, up from US$331 million in 2018 to foreign markets.
(Photo: Svay Rieng Provincial Information Department)
By Chea Vannak