Singapore: Toy Market 2024

Toy Market Size in Singapore

The Singaporean toy market declined slightly to $X in 2021, waning by -3.6% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. Toy consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Toy Production in Singapore

In value terms, toy production dropped sharply to $X in 2021 estimated in export price. Overall, production faced a sharp slump. Toy production peaked at $X in 2020, and then shrank markedly in the following year.

Toy Exports

Exports from Singapore

In 2021, shipments abroad of dolls and toys was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, recorded a noticeable setback. The pace of growth was the most pronounced in 2014 when exports increased by 36%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, toy exports expanded rapidly to $X in 2021. In general, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when exports increased by 39% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons) was the main destination for toy exports from Singapore, accounting for a 55% share of total exports. Moreover, toy exports to Malaysia exceeded the volume sent to the second major destination, Indonesia (X tons), threefold. The third position in this ranking was taken by the Czech Republic (X tons), with a 16% share.

From 2012 to 2021, the average annual growth rate of volume to Malaysia stood at +39.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+19.3% per year) and the Czech Republic (+179.7% per year).

In value terms, Indonesia ($X), the Czech Republic ($X) and Poland ($X) constituted the largest markets for toy exported from Singapore worldwide, with a combined 45% share of total exports.

Among the main countries of destination, Poland, with a CAGR of +195.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average toy export price stood at $X per ton in 2021, declining by -6.1% against the previous year. Over the last nine years, it increased at an average annual rate of +3.0%. The growth pace was the most rapid in 2013 when the average export price increased by 18% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+35.7%), while the prices for the other major destinations experienced more modest paces of growth.

Toy Imports

Imports into Singapore

In 2021, overseas purchases of dolls and toys were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, showed a noticeable slump. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, toy imports soared to $X in 2021. The total import value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of toy to Singapore, with a 54% share of total imports. Moreover, toy imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), threefold. Japan (X tons) ranked third in terms of total imports with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -18.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-12.1% per year) and Japan (-19.4% per year).

In value terms, China ($X) constituted the largest supplier of dolls and toys to Singapore, comprising 54% of total imports. The second position in the ranking was held by Indonesia ($X), with an 18% share of total imports. It was followed by Japan, with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+0.2% per year) and Japan (-8.1% per year).

Import Prices by Country

The average toy import price stood at $X per ton in 2021, leveling off at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +5.8%. The most prominent rate of growth was recorded in 2013 an increase of 43% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; afterwards, it flattened through to 2021.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Vietnam ($X per ton) and Japan ($X per ton), while the price for China ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+14.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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