China's toy exports hit US$33.5bil in 2020; up 7.55% year-on-year


SHANGHAI, April 11 (Xinhua): China, the world's biggest toy exporter, saw its toy exports continue to grow in 2020 despite the influence of the Covid-19 pandemic.

China exported approximately US$33.5 billion worth of toys in 2020, up 7.5 per cent year on year, according to the China Toy & Juvenile Products Association.

Toy exports have continued to rise this year, with the export value hitting US$5.02 billion in the first two months, up 96.8 per cent compared with the same period last year.

China's toy exports have grown for five consecutive years since 2016.

Despite being hindered by the Covid-19 epidemic in the first half of 2020, toy exports quickly picked up again as the epidemic waned and production resumed in the second half.

The United States maintained its position as the top importer of toys made in China last year, with exports to the United States rising 6.8 per cent year on year to US$8.57 billion, according to the association.

China's toy exports to markets including Japan, Singapore, Russia, the Republic of Korea, Saudi Arabia and Malaysia all registered double-digit growth in 2020, with year-on-year growth in exports to Saudi Arabia surging to 67.8 per cent.

Toy sales in the domestic market rose 2.6 percent year on year to US$78 billion yuan (US$11.9 billion) in 2020.

The association noted that the share of online sales continued to increase in the domestic market.

In 2020, online toy sales reached 26.9 billion yuan, accounting for 34.5 per cent of the total. Livestreaming has become a major channel for consumers to purchase toys. - Xinhua
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3

China , Toys Industry , Soaring , Exports , Home Markets , Rising , 2020


Next In Aseanplus News

Asean News Headlines as at 8pm on Saturday (May 15)
Singapore confirms 31 new Covid-19 cases, 19 in the community; 271 imported Covid-19 cases from South Asia in past 28 days
Indonesia daily Covid-19 case loads getting lesser as thousands swarm tourists destinations in Jakarta during Hari Raya Festival
Vietnam records first Covid-19 death, highest community transmissions
Philippines logs 6,739 new Covid-19 cases, death toll crosses 19,000 as more variant cases are reported
Thailand reports 3000-plus new Covid19 cases, 17 more deaths as total tally nears 100,000
Vietnam April trade deficit US$$1.2bil vs US$1.2bil in surplus in March; coffee exports down 22.1%
Philippine Air mulling Chapter 11, in talks to reduce its fleet
Singapore: Parents cannot enter pre-school premises, field trips suspended under tightened Covid-19 rules
Thailand reiterates it will provide humanitarian aid to people fleeing Myanmar and not push them back

Stories You'll Enjoy