During the month of December Taiwan's export figures took their sharpest decline on record - diving 42 per cent.
Lin Li-chen, director general of the statistics department of the Ministry of Finance reacted with particular surprise warning that export figures in the first quarter could be even worse.
Through the entire year of 2008, exports did grow, but in comparison to previous years growth, the near four per cent increase was small, indicating a general slow down.
China is Taiwan's largest overseas market, although trade to its neighbour dipped by 54 per cent. CENS.com made no reference specifically to bicycle exports, stating that the electronic and chemical sectors were hardest hit.