Bicycle

Bicycles are the largest export items in the Bangladeshi Light Engineering sector, amounting to USD 131 million in 2020-21 and rising to around USD 168 million in 2021-22. At least seven local manufacturers export nearly 900,000 units of bicycles annually. The size of the domestic bicycle market is estimated at USD 141 million (as in 2019), where some 1.5 million bikes are sold annually. In 2019, Bangladesh was the third largest non-EU exporter of bicycles to the EU (Eurostat). In fact, more than 90% of bicycle export goes to EU countries as local manufacturers enjoy duty-free access to the market. As several European governments are providing subsidies to encourage bicycle purchase, Bangladesh has the opportunity to expand the overseas market of bicycles, particularly in developed nations in addition to the EU.