Top Export Markets for Toys
If you are a toy manufacturer looking to expand internationally, identifying the right countries to target internationally can be difficult. This article analyzes import volumes for these products for different countries between 2012 and 2016. Based on this analysis we identify the fastest growing and largest export markets for these products to help you prioritize your international expansion strategies.
The data in this analysis is from the International Trade Centre (ITC). It is limited to the following product categories as categorized by the ITC:
Product Group 9501 (Wheeled toys designed to be ridden by children; dolls' carriages)
Product Group 9502 (Dolls representing only human beings)
Product Group 9503 (Toys; reduced-size "scale" recreational models, working or not; puzzles of all kinds)
Toys Imports Analysis by Region
We can see that the largest import market for these products is Europe & Central Asia (approximately US$ 20 billion in 2016). Average annual import growth between 2012 and 2016 was also positive. A growing market means gaining share for a new manufacturer should be easier. In addition, North America and East Asia & the Pacific also showed strong growth during this time period with substantial import volume. Targeting these regions could also be beneficial.
Targeting countries in your own region of the world first is sometimes the easiest way to start growing intentionally. We now focus on each one of these regions individually to understand what countries might be your best targets for international expansion. High import volume and high year over year import growth are two metrics you want to continue focusing on when looking at countries within a specific region.
Toys Imports Analysis for East Asia & Pacific Countries
Within East Asia & Pacific, the countries with the highest volume of imports in 2016 are Hong Kong, Japan, Australia, South Korea and China. Australia, South Korea and China also have strong import growth with South Korea and China growing extraordinarily fast. In addition, Taiwan, Singapore, New Zealand, Malaysia, Philippines, Thailand and Vietnam also have high growth in imports making them great targets for expansion.
Toys Imports Analysis for Europe & Central Asia Countries
Within Europe & East Asia, the countries with the highest volume of imports in 2016 are Germany, United Kingdom, France, Italy, Belgium, Netherlands, Czech Republic and Spain. All of these countries have also had strong import growth. In addition, Poland, Austria, Turkey, Switzerland, Hungary, Romania, Portugal and Slovak Republic also have high growth in imports although limited volume.
Toys Imports Analysis for Latin America & Caribbean Countries
Within Latin America & Caribbean, the countries with the highest volume of imports in 2016 are Mexico, Chile, Brazil, Peru and Argentia. Import growth in Peru and Argentina has also been strong. In addition, Costa Rica, Guatemala, Bolivia, El Salvador, Honduras and Dominican Republic have all been posting high growth in imports as well.
Toys Imports Analysis for Middle East & North Africa Countries
Within the Middle East & North Africa, the countries with the highest volume of imports in 2016 are the United Arab Emirates, Saudi Arabia, Israel and Iran. All of these countries have strong growth in imports as well. In addition, Kuwait, Lebanon, Morocco, Algeria, Malta, Oman and Bahrain have had high growth in imports although limited volume.
Toys Imports Analysis for North America Countries
Within North America, the countries with the highest volume of imports in 2016 are the United States and Canada. Both also have strong year over year import growth with imports in the United States growing especially fast.
Toys Imports Analysis for South Asia Countries
Within South Asia, the countries with the highest volume of imports in 2016 are India and Pakistan. Both have had strong year over year growth in imports as well. In addition, Sri Lanka has had high growth in imports although limited volume.
Toys Imports Analysis for Sub-Saharan Africa Countries
Within Sub-Saharan Africa, the countries with the highest volume of imports in 2016 are South Africa, Republic of Congo, Kenya, Cote d'Ivoire, Mauritius, Namibia, Nigeria and Angola. Import growth in Republic of Congo, Kenya, Cote d'Ivoire and Mauritius have also been strong.
Getting Serious About Expanding Internationally?
Analyzing data is the first step to building a strategic plan for international expansion. Once you've identified your potential target countries for expansion, you can use our online platform to find local partners in those countries. Learn more about our platform here and then signup to add your products, set your partnership terms and review partnership offers you'll start receiving from local partners.