The export of bicycles and other non-motorized cycles from Belgium exhibited a varying trend from 2013 to 2023, starting at $763.52 thousand in 2013 and declining to $467.22 thousand in 2023. From 2024 onwards, the data is forecasted, with a projected steady decline reaching $364.62 thousand by 2028.
- The export value experienced a significant drop of 26.78% in 2015, the largest annual decrease during the observed period.
- Recent years show a consistent declining trend: -4.29% in 2021, -8.94% in 2022, and -4.5% in 2023.
- The Compound Annual Growth Rate (CAGR) over the past five years stands at -4.29%, reflecting a continual downward trend.
- Future projections indicate a continued decline, with the forecast CAGR for the 2028 period at -4.03% and an overall decrease of 18.58% over the forecasted period.
Future trends to watch for include potential market disruptions from new cycling technologies, changes in environmental policies favoring sustainable transportation, and shifts in global trade agreements impacting export dynamics.
