Economy

Markets

Industries

Insights

Reports

Events

Guangdong toy exports decline

By Tuo Yannan (chinadaily.com.cn)
Updated: 2009-01-21 11:58

Toy exports from Guangdong province rose 3.6 percent in 2008, albeit at a slower pace over previous years with export growth falling 19 percent, according to statistics from the Guangdong Huangpu Customs.

Toy exports plummeted in the last three months of 2008, with the December export figures falling 11.6 percent to $380 million. The number of toy factories also declined from 3,089 to 2,167 in this period. The number of small and medium-sized enterprises, with an export turnover of under $1,000,000, also fell from 2,272 to 1,382. According to Customs data, the January-October exports in 2008 were around $337,800 million, representing a growth of 13 percent over the same period in 2007.

Analysts point out that Guangdong toy exporters need to diversify from their traditional cold textile toys to others like machines and electronic products to make their exports more viable and sustainable.