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Rapid rise in bicycle exports from Bangladesh to Europe

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Rapid rise in bicycle exports from Bangladesh to Europe
Published: June 03, 2022 20:09:04

Rapid rise in bicycle exports from Bangladesh to Europe

Bicycles are one of the few industries that have made quite a splash in the last few years in terms of exports from Bangladesh.

Exports of bicycles from Bangladesh have steadily increased in the last few years.

Bangladeshi bicycles are now very popular in different countries of Europe. These bicycles are being exported to various European countries including Britain, Germany, Denmark and Austria.

However, the largest markets are Britain and Germany.

Bangladesh ranks third among the number of bicycles imported from countries outside the European Union. News BBC Bangla.

According to the Bangladesh Export Development Bureau, in 2019-2020, the income from bicycles exported from Bangladesh was 98 million dollars.

In 2020-2021, it increased to 130 million. In addition, in the fiscal year 2021-2022, it increased to 140 million dollars.

Bangladeshi exporters say that among the bicycles exported to the European market, the maximum price in Bangladeshi currency ranges from Rs 120,000 to Rs 150,000.

Why is the export from Bangladesh increasing?

Many people in different European countries prefer bicycles as a means of transportation. Demand for this specialty has grown significantly as a result of recent corporate scandals.

European countries used to import more bicycles from China. But European countries have been imposing heavy tariffs on bicycles imported from China since 1993.

The tariff rate is up to 47 percent. In addition, since 2013, high tariffs have been imposed on bicycles imported from Indonesia, Malaysia, Sri Lanka, Pakistan, Cambodia and the Philippines.

This opens the door to possibilities for Bangladesh.

Pran-RFL Group exports bicycles from Bangladesh to European markets.

Kamruzzaman Kamal, marketing director of the company, told BBC Bangla that most of the bicycles imported to European countries were from China.

"Their trade disputes with China have created more opportunities for us," he said. Kamal.

According to the news agency Reuters, about two crore bicycles are sold every year in the countries of the European Union.

According to Eurostat, the European Union's statistics office, EU countries imported 5 million bicycles from outside the EU in 2021.

According to Eurostat, Europe has imported eight percent of its bicycles from Bangladesh.

Will exports increase further?

Bicycle designs are sent to Bangladeshi companies from different countries in Europe. Then he made the bicycle according to the design and exported it to Europe.

The number of bicycles currently sold in Europe is expected to increase.

According to experts, the European Cyclists Federation says that by 2030, 30 million bicycles will be sold in Europe every year.

That means one crore more will be sold than what is being sold now.

Stakeholders feel that this could create more opportunities for Bangladesh.

Kamruzzaman Kamal, Marketing Director, Pran-RFL Group, said, "The demand is increasing every year and our exports are also increasing."

According to an article published on the World Bank's blog, by 2022, the global bicycle market will be around বিল 35 billion. It has been commented in this blog that exporting bicycles can bring diversity outside the readymade garment industry.

As mentioned in this blog, Bangladesh currently ranks eighth in the world in bicycle exports.
 

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