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British bike export figures are racing ahead

Bicycles

Recent data from HMRC reveals that exports of bicycles made in Britain are at a record high.

Asia accounts for some of the fastest growing demand. In the year to November 2018, bicycle exports to China rose by 109%, to Taiwan by 200% and to Malaysia by an incredible 724%. In total, bicycle exports to Asia and Oceania rose to a value of £10.8m in the same period.

The United States also remains a core market; exports in the year to November 2018 were worth £5.1m, a 7.8% increase since the same period 5 years ago.

Minister of State at the Department for International Trade, Baroness Fairhead, said:

"It’s fantastic to see that recent successes for British cycling on the road and track are translating into economic benefits, as we export both our passion for cycling and our manufacturing excellence overseas.

The world increasingly looks to Britain for expertise in the cycling industry, whether in competitive racing, recreational pursuits or the daily commute to work. These latest figures show how high-quality British manufacturing is in demand, not just in traditional markets, but further afield in the likes of China, Taiwan and Malaysia."

 

Source: Department for International Trade