Bilal9
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Bicycles, Bangladesh, Booming; Bangladesh conquers third spot in EU bicycle imports!
https://www.turbinebd.com/bicycles-...h-conquers-third-spot-in-eu-bicycle-imports/#
For the increasingly car-saturated streets of Bangladesh, a not-so-new alternative seems ever so enticing – bicycles. Taking over the 3rd spot for bicycle imports for countries in the European Union, bicycle manufacturing in Bangladesh concurrently proves to be a good source of income for the country. Will Bangladesh see this international trade through to a road that will prove profitable for the country? Read more about it below.
In the traffic-ridden roads of Bangladesh, cycling, in very many cases can prove to be a feasible form of transport provided that the rider can take care of their own safety; the traffic besides being bothersome can also be dangerous considering the indifference of most Bangladeshi drivers regarding the safety of others in the streets. If we leave that part behind, cycling can demonstrate itself as a proper alternative to walking from place to place. Besides the transportation side of it all,
Cycling is simultaneously an exercise; it largely contributes towards a healthy lifestyle by not only helping riders keep fit but serving as an eco-friendly transportation method. If you were to take into concern the rapidly deteriorating environment of the country, bicycles yet again prove themselves to be an option for the masses. I mean, staying fit while suitably moving from place to place, oh and also contributing to the environment? Sign me up!
Bangladesh has seen its fair share of bicycles. In that regards, it has also been moving forwards steadily in terms of bicycle manufacturing and export. In 2016, 11% of bicycles in European Union countries were imported from Bangladesh, placing it right over the Philippines with its 10% market share. This means that Bangladesh is the third largest bicycle exporter for countries in the European Union, placing below Taiwan with its 24% market supply and Cambodia with its 14%. Bicycles manufactured domestically in the country are mainly exported to the USA, Germany, Holland, Italy, Greece, Ireland, Belgium, Denmark, Austria and Portugal to name a few.
According to info from the EU, 28 countries from the organization imported about 1 crore 70 lac bicycles out of which 58% was imported from the countries in the union, and the rest 42% from outside the union. In the cycle export department, Bangladesh’s market is majorly occupied by the European Union countries, and this export procedure began from way back in 1999.
Due to the cheap labour market in Bangladesh, a Taiwanese company Alita Bangladesh LTD began exporting bicycles within a small range. Later on, Meghna group and RFL group were major additions to the sector. Currently, more organizations such as Ace Bicycles Ltd, Transworld Bicycle Co., Siraj Bicycle Ltd, North Bengal Cycle Industries Ltd, etc. are also involved in bicycle export amongst others. Mountain bikes, city bikes, freestyle, trekking, folding, beach cruiser and kids bikes among others are being domestically produced in these firms.
“70 percent bicycles are imported and only 30 percent are manufactured locally. So, the market is still import-dominant. Most of the cycles come from China and India. Besides, higher import duty on raw materials is a serious barrier. Previously, it was 10 per cent. It has increased to 25 per cent from this year”, said Kamruzzaman Kamal, marketing director of Pran-RFL group.
Entrepreneurs say that the country can earn nearly Tk. 1,000–1,200 crore from bicycle exports within a couple of years if the import duty on raw materials is reduced.
The country manufactures around 20 lac bicycles every year out of which nearly 12 lac are exported. According to the Export Promotion Bureau (EPB), during the first month (July) of FY2019-20, Bangladesh earned nearly USD 10.06 million by exporting bicycles, especially to the EU market. During the same period in the 2018–19 financial year, the earnings totaled USD 5.70 million.
The growth rate is approximately 76.49 per cent compared to the previous year. Therefore, we can conclude that despite the aforementioned obstacle, Bangladesh’s bicycle industry is an emerging export sector and has immense potential in the global market, something to take pride in.
Data shows Bangladesh 3rd largest bicycle exporter to EU
Manufacturers in Bangladesh supplied 11% of the European Union’s (EU) total imported bicycles in 2016, making the country the third largest bicycle exporter to the bloc after Taiwan and Cambodia.
Data published by Eurostat, official EU website for European statistics, showed that 42% of the bicycles imported by EU member countries came from outside the EU.
The top sources are- Taiwan (24%), Cambodia (18%), Bangladesh (11%), and the Philippines (10%). Eurostat further showed that 28 member countries of the EU imported 17m bicycles in 2016 of which 58% within the union.
On the other hand, EU member states exported 11m bicycles in the past year of which 92% within the union.
https://www.turbinebd.com/bicycles-...h-conquers-third-spot-in-eu-bicycle-imports/#
For the increasingly car-saturated streets of Bangladesh, a not-so-new alternative seems ever so enticing – bicycles. Taking over the 3rd spot for bicycle imports for countries in the European Union, bicycle manufacturing in Bangladesh concurrently proves to be a good source of income for the country. Will Bangladesh see this international trade through to a road that will prove profitable for the country? Read more about it below.
In the traffic-ridden roads of Bangladesh, cycling, in very many cases can prove to be a feasible form of transport provided that the rider can take care of their own safety; the traffic besides being bothersome can also be dangerous considering the indifference of most Bangladeshi drivers regarding the safety of others in the streets. If we leave that part behind, cycling can demonstrate itself as a proper alternative to walking from place to place. Besides the transportation side of it all,
Cycling is simultaneously an exercise; it largely contributes towards a healthy lifestyle by not only helping riders keep fit but serving as an eco-friendly transportation method. If you were to take into concern the rapidly deteriorating environment of the country, bicycles yet again prove themselves to be an option for the masses. I mean, staying fit while suitably moving from place to place, oh and also contributing to the environment? Sign me up!
Bangladesh has seen its fair share of bicycles. In that regards, it has also been moving forwards steadily in terms of bicycle manufacturing and export. In 2016, 11% of bicycles in European Union countries were imported from Bangladesh, placing it right over the Philippines with its 10% market share. This means that Bangladesh is the third largest bicycle exporter for countries in the European Union, placing below Taiwan with its 24% market supply and Cambodia with its 14%. Bicycles manufactured domestically in the country are mainly exported to the USA, Germany, Holland, Italy, Greece, Ireland, Belgium, Denmark, Austria and Portugal to name a few.
According to info from the EU, 28 countries from the organization imported about 1 crore 70 lac bicycles out of which 58% was imported from the countries in the union, and the rest 42% from outside the union. In the cycle export department, Bangladesh’s market is majorly occupied by the European Union countries, and this export procedure began from way back in 1999.
Due to the cheap labour market in Bangladesh, a Taiwanese company Alita Bangladesh LTD began exporting bicycles within a small range. Later on, Meghna group and RFL group were major additions to the sector. Currently, more organizations such as Ace Bicycles Ltd, Transworld Bicycle Co., Siraj Bicycle Ltd, North Bengal Cycle Industries Ltd, etc. are also involved in bicycle export amongst others. Mountain bikes, city bikes, freestyle, trekking, folding, beach cruiser and kids bikes among others are being domestically produced in these firms.
“70 percent bicycles are imported and only 30 percent are manufactured locally. So, the market is still import-dominant. Most of the cycles come from China and India. Besides, higher import duty on raw materials is a serious barrier. Previously, it was 10 per cent. It has increased to 25 per cent from this year”, said Kamruzzaman Kamal, marketing director of Pran-RFL group.
Entrepreneurs say that the country can earn nearly Tk. 1,000–1,200 crore from bicycle exports within a couple of years if the import duty on raw materials is reduced.
The country manufactures around 20 lac bicycles every year out of which nearly 12 lac are exported. According to the Export Promotion Bureau (EPB), during the first month (July) of FY2019-20, Bangladesh earned nearly USD 10.06 million by exporting bicycles, especially to the EU market. During the same period in the 2018–19 financial year, the earnings totaled USD 5.70 million.
The growth rate is approximately 76.49 per cent compared to the previous year. Therefore, we can conclude that despite the aforementioned obstacle, Bangladesh’s bicycle industry is an emerging export sector and has immense potential in the global market, something to take pride in.
Data shows Bangladesh 3rd largest bicycle exporter to EU
Manufacturers in Bangladesh supplied 11% of the European Union’s (EU) total imported bicycles in 2016, making the country the third largest bicycle exporter to the bloc after Taiwan and Cambodia.
Data published by Eurostat, official EU website for European statistics, showed that 42% of the bicycles imported by EU member countries came from outside the EU.
The top sources are- Taiwan (24%), Cambodia (18%), Bangladesh (11%), and the Philippines (10%). Eurostat further showed that 28 member countries of the EU imported 17m bicycles in 2016 of which 58% within the union.
On the other hand, EU member states exported 11m bicycles in the past year of which 92% within the union.
