Search Site

Trends banner

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

EU bicycle exports surged to US$1.1bn in 2022

World Bicycle Day draws attention to the benefits of using the bicycle - a simple, affordable, environmentally fit and sustainable means of transportation. (WAM)
  • The EU exported 365,000 electric bicycles and imported 1.2 million in 2022 while the imports were worth US$2.6 billion.
  • The overall increase in the trade of bicycles can be attributed to an increase in the export and import of electric bicycles.

BRUSSELS, BELGIUM –  The EU exported US$1.1 billion (€1.1 billion) worth of bicycles in 2022 (both electric and non-electric, a rise of 22 percent compared with 2021), according to Eurostat, the statistical office of the European Union on the World Bicycle Day.

The imports were double the exports, with US$2.6 billion (€2.5 billion) worth of bicycles (+32 percent).

The overall increase in the trade of bicycles can be attributed to an increase in the export and import of electric bicycles, which are typically more expensive.

A further look into the 2022 data shows that the EU exported 365,000 electric bicycles (+16 percent compared with 2021) and imported 1.2 million electric bicycles (+16 percent).

The EU exported 1 million non-electric bicycles (-31 percent compared with 2021) and imported 5.2 million (-9 percent).

In 2022, Switzerland was the main destination for EU exports of non-electric bicycles (25 percent of the extra-EU total, measured in value), followed by the United Kingdom (23 percent), and the United States (7 percent).

For exports of electric bicycles, Switzerland and the UK were also the main destinations (38 percent and 27 percent of total extra-EU electric bicycle exports, respectively), followed by the United States (13 percent) and Norway (9 percent).

In 2022, EU imports of non-electric bicycles came mainly from Cambodia (30 percent of total extra-EU bicycle imports), Taiwan (23 percent), China (11 percent), Bangladesh (10 percent) and Turkey (6 percent).

Imports of electric bicycles into the EU came primarily from Taiwan (56 percent of total extra-EU electric bicycle imports), followed by Vietnam (14 percent), Switzerland (13 percent), China (8 percent) and Turkey (5 percent).

World Bicycle Day draws attention to the benefits of using the bicycle — a simple, affordable, clean and environmentally fit sustainable means of transportation.