Cambodia Bags US$500 Million in Bicycle Exports in First Half 2022

 

Cambodia earned US$505 million in bicycle exports in the January-June period this year, an increase by 104 percent from US$247.5 million registered in the same period last year.

The sales to local market were amounted to US$15 million during the period, said H.E. Heng Sokkung, Secretary of State and Spokesperson of the Ministry of Industry, Science, Technology, and Innovation.

“Cambodia is the world’s fifth largest exporter in the bicycle industry and the No. 1 exporter to the European Union,” he said at a press conference organised on Aug. 11 by the Royal Government Spokesperson Unit, adding that the Kingdom’s export of bicycles accounted for 24 percent of the total bicycles sold to the bloc.

Cambodia became the largest exporter of bicycles to the EU bloc in 2020.

H.E. Heng Sokkung attributed the growth of bicycle exports to the peace, stability, and friendly investment environment, which have built bold confident to investors to inject investment in the country.

Cambodia has 13 bicycle factories, of which 12 are in Svay Rieng province and one in Kandal province, with a total investment value of US$112 million.

The Kingdom also ships bicycles to the U.S., Japan, China, ASEAN nations, Australia, Colombia, the Republic of Korea, and Canada.

 

Source: Agency Kampuchea Press