Taiwan sporting goods output tops NT$12 billion in Q1

台灣體育用品第一季產值突破120億新台幣

Golf products see 24% growth, while fitness equipment posts 15.9% decline


TAIPEI (Taiwan News) — The Ministry of Economic Affairs said that Taiwan's sporting goods industry reached a production value of NT$12.1 billion (US$372 million) in the first quarter, marking a 5.6% year-on-year increase.

Fitness and golf equipment drove demand. Golf equipment was the primary contributor in Q1, with a rise in overseas orders pushing production value up by around 24% year-on-year. In contrast, the production value of indoor fitness equipment declined by 15.9% year-on-year, per CNA.

Taiwan exports about 90% of its fitness equipment and golf products. According to the ministry, Taiwan ranked third globally in fitness gear exports and fifth in golf equipment exports last year.

In 2021, Taiwan’s sporting goods sector reached a record-high production value of NT$93 billion. However, the industry saw declines in the following two years, with production falling by 40.3% in 2022 and 14.9% in 2023. Last year, it reversed this downward trend, posting a 1.5% year-on-year growth.

Due to the COVID-19 pandemic, the production value of the golf equipment sector dropped from NT$12.8 billion in 2019 to NT$11.1 billion in 2020. However, the industry rebounded significantly in 2022, reaching a record high of NT$19.5 billion, a 14.9% increase from 2021, accounting for 35.2% of the total production value of Taiwan’s sporting goods industry.

In 2020, pandemic-related lockdown measures drove strong demand for products such as treadmills and step machines, lifting the fitness equipment sector’s production value to NT$38.4 billion. This represented a 38.2% increase from 2019 and boosted its share of Taiwan’s sporting goods industry to 60%. However, the sector experienced a downturn in 2022 and 2023, which caused its share of total industry output to decline to around 30%.

Taiwan’s sporting goods manufacturing sector is primarily made up of small and medium-sized enterprises, the ministry added. In 2023, the country had nearly 450 sporting goods manufacturers, with Taichung accounting for the largest share at 34.7%, followed by Changhua at 15.4% and Tainan at 14%.