In The First Half of The Year, China's Toy Exports Fell By More Than 10%!

Data increase and decrease

The overall downward trend is significant

my country's toy exports have experienced negative growth in a single month year-on-year since September last year. Relying on the good performance of foreign trade exports in the first eight months, despite the decline in the growth rate of toy exports for the whole of last year, it still maintained positive growth. This year, under favorable conditions such as the optimization of my country's epidemic prevention policy, the successful holding of Hong Kong Toy Fair, Nuremberg Toy Fair, and Shenzhen Toy Fair, and the return of the Spring Canton Fair to offline in April, toy exports in the first half of the year did not rise but fell.

Since the outbreak of the epidemic, except for the 12.1% decline in my country's toy exports in the first half of 2020, positive growth has been achieved in the first half of the next two years, and this situation has been broken again this year. According to customs data, in the first six months of this year, my country's toy exports totaled US$18.53 billion, down 11.2% year-on-year. In terms of monthly data, the export volume in January and February both showed a negative year-on-year growth in a single month. Judging from previous years, the toy export value in the first two months of each year is usually not too high, but it basically maintained a positive growth compared with the same period of the previous year. The reason for the significant decline in the first two months of this year is that the industry believes that on the one hand, it is the traditional off-season, and the order volume is relatively small; on the other hand, my country’s epidemic prevention policy has just been optimized at the end of last year, and overseas customers are worried about changes, so they are more cautious in placing orders.

In March, my country's toy exports achieved a year-on-year increase of 33.10%, and the chain rose by 107.93% from February. However, this growth trend did not last long. In April, the export value of toys fell by 6.91% compared with March, while the export value of toys increased slightly year-on-year; in May, the export value of toys fell both year-on-year and month-on-month. In June, the export value rose by 7.5% month-on-month to US$3.447 billion, but still fell by more than 20% year-on-year.