PHNOM PENH: Cambodia exported bicycles worth $416.7 million in 2023, a decrease of 53.6 percent from $899.7 million a year earlier, pointed out a report of the General Department of Customs and Excise.

According to the source, the made-in-Cambodia bicycles were exported to the European Union, the United States of America, Britain, Canada, Japan, and China, among others.

Cambodia's bicycle exports have declined as orders from other countries were affected by the economic crisis, said H.E Penn Sovicheat, Secretary of State and Spokesperson at the Ministry of Commerce.

“People in countries buying Cambodia's bicycles are likely paying much more attention to food as a necessary base in the time of uncertain global economic growth caused by wars rather than consuming products,” he said.

Bicycles have become one of Cambodia's key manufacturing products for exports after clothes, footwear, and travel goods.

The bicycles are assembled only in the special economic zones located in Bavet city, Svay Rieng province, at the border with Vietnam.

Currently, five companies assemble bicycles for export. They are Evergrand Bicycle (Cambodia), Speedtech Industrial Co., Ltd., Smart Tech (Cambodia) Co., Ltd., A and J (Cambodia) Co., Ltd., and XDS Bicycle (Cambodia) Co., Ltd.

Cambodia is one of the top five exporters of bicycles in the world.