Key Market Indicators
The country was number 62 in 2021, Montenegro came ahead at 77,350 Units. Japan, Portugal and Italy respectively came in numbers 2, 3 and 4 in this ranking. Armenian Bicycle exports are projected to reach 77 units by 2026, up from 64 in 2021. This reflects a 3.1% year-on-year growth rate since 2013, when the country's supply decreased by 0.3%. Armenia ranked 62nd in 2021, behind Montenegro, which exported 64 units. Japan, Portugal and Italy followed, coming in 2nd, 3rd and 4th place respectively. Meanwhile, imports are set to reach 95,900 units in 2026, up from 77,350 in 2021. This reflects a 3.6% average year-on-year growth rate since 2005, when demand increased by 17.3%. Armenia ranked 62nd in 2021, behind Montenegro, which imported 77,350 units. Japan, Portugal and Italy followed, coming in 2nd, 3rd and 4th place respectively.
