These latest figures are from the Taiwan Bicycle Exporters' Association, and reported by the China Economic News Service.
TBEA chairman Ike Tseng of Merida said the much higher growth in export value was due to the greatly increased average selling price of Taiwan-exported bikes.
The ASP of Taiwan-exported bicycles rose to a high of $156.48 in the first eight months of the year.
This success at adding value is being attributed to the work of the 20-member A-Team of Taiwanese bicycle and parts suppliers.
A-Team suppliers - such as Giant and Merida - pay into a fund which pays for joint R&D and production schemes.
A new chairman for TBEA will be elected on December 17th at the association's AGM. Yang Yin-ming, chairman of Kenda Rubber Ind. Co., Ltd. is the chairman elect.