China’s toy exports in high demand during coronavirus lockdowns, especially in the United States
- A new report by the China Toy and Juvenile Products Association says there was a 7.5 per cent increase in exported toys in 2020, as people sought to entertain themselves and their kids during the pandemic
- Industry document highlights the extent to which the West has relied on Chinese products amid coronavirus lockdowns
China’s toy sector is booming, and the United States remains the top destination for those toys despite the impact of the coronavirus and protracted bilateral tensions between the world’s two largest economies.
With the pandemic fuelling a “stay-at-home economy”, there has been a greater reliance on Chinese goods, according to the China Toy and Juvenile Products Association (CTJIPA).
The industry organisation said in a white paper issued on Thursday that the total value of exported toys – excluding certain types of games – in coronavirus-ravaged 2020 rose by 7.5 per cent from a year earlier, reaching US$33.49 billion and marking the fifth straight year that China’s toy exports have increased.
Shipments to the US grew by 6.8 per cent to US$8.57 billion last year, accounting for nearly a quarter of all Chinese toy exports, according to the report. The US also maintained its status as the largest overseas market for Chinese toys, followed by Britain and Japan.
But compared with the strong increase in toy exports, China’s own market for toys appeared to be flatter. Domestic retail sales of toys increased by only 2.6 per cent last year, totalling 77.97 billion yuan (US$11.9 billion), according to the white paper.