pocket bike

China is the largest manufacturer of bicycles (including pocket bike) in the world, accounting for 80 percent of global output. The country produced 78 million bicycles in 2004, of which 51 million units worth US$1.6 billion were exported. China's US$1.6-billion dollar bicycle (including pocket bike) industry is headed for a rough ride as some of its key export markets are in the process of adopting stricter quality standards or imposing higher tariffs on imported bicycles. Nevertheless, most suppliers are positive of an increase in export sales in coming months, particularly in view of the rapidly rising demand for electric bikes. Although export sales grew by a healthy 14.5 percent last year, growth in terms of volume was only 2.4 percent, a sharp decline from the 11 percent increase registered in 2003. The higher growth rate in value terms last year can be attributed to a rise in export prices and to an increase in shipments of pocket bikes, which are more expensive than other types of bicycles. From January to April 2004, the average price of a bicycle (including pocket bike) exported from China was US$32, and it climbed to US$34 over the same period in 2005. Export volume growth, on the other hand, was lower in part due to a dip in shipments to Japan, the country's second-largest market.