Indonesia Has A Great Opportunity To Maximize The Export Potential Of Bicycle Components In Vietnam, America, And Germany

Illustration. (Photo: Doc. Antara)

JAKARTA - The COVID-19 pandemic has made the riding trend increase. This has also triggered an increase in demand for bicycles at home and abroad.

Indonesia has benefited from this trend by exporting bicycle components to several countries.

One of them is Singapore. According to Deputy Minister of Trade Jerry Sambuaga, Singapore is the main market for bicycle component product exports

"In addition, other market opportunities for Indonesian bicycle components are the United States (US) market which has only been utilized for 16 million US dollars with an untapped potential of 947 million US dollars," said Jerry in his statement when releasing the export of PT Shimano's bicycle component products. Batam to Singapore in Batam, Riau Islands, last week.

Not only that, Vietnam has an untapped potential of US$26 million and Germany has an untapped potential of US$25 million.

Based on data from the Central Statistics Agency (BPS), the trend of bicycle component exports from Indonesia to the world in 2017 to 2021 experienced a positive trend of 13.54 percent. Even the value of export growth for 2020-2021 is 62.55 percent with a value of 1.12 billion US dollars.

Jerry said that the Ministry of Trade is committed to continuing to support business actors, encouraging product downstreaming, and increasing exports of non-oil and gas products to the global market. The Ministry of Trade also highly appreciates industrial players in the country who are still aggressively penetrating the export market in the midst of the COVID-19 pandemic.

"As a program to increase national exports, the Government of Indonesia, both at the center and in the regions, will continue to encourage the increase in export value from the industrial sector. The Ministry of Trade will also continue to encourage the creation of added value for Indonesian export products and market expansion to partner countries," he said.