Saturday, May 24, 2008

Costs, safety concerns slow Q1 toy exports

China's first-quarter toy export growth slowed significantly due to higher production costs, an appreciating currency and product safety concerns, AP reported, citing state media. Toy exports in the first quarter grew by 3%, down from the 23.6% growth posted in the same period last year. First-quarter toy exports totaled US$1.5 billion, according to figures from China's customs agency. Toy exports to the US fell 5.8% to US$590 million, while sales to Hong Kong were down 26.8% to US$110 million. However, toy exports to Europe rose by 14.8% to US$380 million. Many goods sent to Hong Kong are re-exported to the US and other markets.

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