Key Market Indicators
The country ranked number 58 in 2021, behind Pakistan. Japan, Italy and Portugal respectively were numbers 2, 3 and 4 in this ranking. Luxembourg's bicycle exports are on track to reach 329,000 units by 2026, down 0.7% on average each year. This follows a 4.3% yearly decline since 2005, when the country was ranked 56th in the world. In 2021, Pakistan overtook Luxembourg at 344,100 units. Japan, Portugal and Italy took the top three spots in the ranking. Luxembourg's bicycle imports are projected to drop to 23,800 units by 2026, a 3.1% decrease year-on-year. Since 2005, demand has declined by 13.7% each year. In 2021, Luxembourg was ranked 58th in the world, behind Pakistan. The top three countries in the ranking were Japan, Italy and Portugal.
