Japan's Bicycle Imports in July 2023 Increase by 3% to Reach $35M

Japan

Japan Bicycle Imports

Following a three-month decline, the import of bicycles and other cycles from abroad showed a 3.8% increase to reach 279K units in July 2023. However, overall imports experienced a noticeable reduction. The most rapid growth was observed in March 2023, with a 46% increase compared to the previous month, reaching a peak of 594K units. From April 2023 to July 2023, import growth remained at a slightly lower level.

In terms of value, bicycle imports were estimated to be worth $35M in July 2023, according to IndexBox estimates. However, overall imports saw a significant decline. The highest growth rate was recorded in March 2023, with a month-to-month increase of 32%, resulting in imports reaching a peak of $71M. From April 2023 to July 2023, import growth failed to regain momentum.

Japan Bicycle Imports By Country (Million USD)

Imports by Country

In July 2023, China (271K units) was the main supplier of bicycles to Japan, accounting for 97% of total imports. Taiwan (Chinese) (5.5K units) followed with a 2% share of total imports.

From July 2022 to July 2023, the average monthly rate of volume growth from China stood at -3.2%.

In terms of value, China ($29M) constituted the largest supplier of bicycles to Japan, comprising 82% of total imports. Taiwan (Chinese) ($4.2M) secured the second position, with a 12% share of total imports.

From July 2022 to July 2023, the average monthly rate of value growth from China was -3.9%.

Import Prices by Country

In July 2023, the import price of bicycles amounted to $127 per unit (CIF, Japan), showing a relatively flat trend compared to the previous month. The most significant growth rate was recorded in November 2022, with an 8.1% increase from the previous month. Import prices peaked at $154 per unit in December 2022 but failed to regain momentum from January 2023 to July 2023.

Prices varied widely by the country of origin, with Taiwan (Chinese) having the highest price at $776 per unit while China's price stood at $107 per unit.

From July 2022 to July 2023, the most notable price growth was achieved by Taiwan (Chinese) with a rate of 4.8%.

Source: IndexBox Market Intelligence Platform

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