PRODUCT CLASSIFICATION
Toys, Games & Sports play a fundamental role in children and young people’s lives, because they contribute significantly to stimulating physical, cognitive and social development, for different reasons
- Toys stimulate imagination and creativity;
- Games promote problem-solving, teamwork and strategic thinking;
- Sports encourage physical fitness, discipline, resilience and, like Games, teamwork.
They are a part of the Miscellaneous category and include, for example, Other Toys, Video and Card Games, Sports Equipment, Party Decorations and Fishing and Hunting Equipment.
This post will not consider the Toys, Games & Sport trade in general, but it will be focused on the Chinese market, the largest exporter of this product in the world.
EXPORT
In 2023, it was reported that China exported an amount of $89B in Toys, Games & Sports and its prevalent destinations were
- United States - $33.1B;
- Japan - $5.77B;
- United Kingdom - $5.04.
In 2024, instead, it was exported about $82.6B of the category, which led to it being ranked 10th out of 97 Chinese exported products, and the main characters in this case were
- United States - $26.9B;
- Japan - $4.39B;
- Netherlands - $3.95B;
- United Kingdom - $3.61B;
- Mexico - $2.45B.
IMPORTS
In 2023, it was imported around $1.72B in Toys, games, & sports, mainly from
- Japan - $490M;
- Vietnam - $250M;
- Chinese Taipei - $200M;
In 2024, instead, it estimated that China imported an amount of $2.42B of the category which led to it being ranked 56th out of 97 Chinese imported products; the main origins were
- China – $760M;
- Japan - $471M;
- Vietnam - $279M;
- Chinese Taipei - $217M;
- United States - $74.1M.
GROWTH POTENTIAL
The fastest growing importers for Toys, Games & Sports in China between 2023 and 2024 were
- Vietnam - $29.4M;
- Germany - $24M;
- Indonesia - $14.7M.
On the other hand, the fastest growing exporters for the category in the country between 2023 and 2024 were
- Kyrgyzstan - $382M;
- Singapore - $298M;
- Mexico - $192M.
CONCLUSIONS
Toys, games & sports are essential tools for education and personal development; They are a part of the Miscellaneous category and include, for example, Other Toys, Video and Card Games, Sports Equipment, Party Decorations and Fishing and Hunting Equipment.
Due to its well-developed manufacturing infrastructure, low production cost and high efficiency, China became the leader in the product’s global trade and, as a result, many international companies, like Mattel, rely on its factories to respond to global demands which leads, consequently, to the creation of fundamental pieces of childhood.
Source: https://oec.world/en
