Smarter toys pay off
The Thai Toy Industry Association has forecast export growth of 12 per cent or Bt8.5 billion for this year based on growing demand for creative toys, association president Doungchai Koosrivinij said yesterday.
She said toys made in Thailand were able to compete with cheaper toys from China because local toy producers were concentrating on producing innovative items. The association has tried to encourage the development of creative toys by establishing the Good Toy Award 2006 that will be presented to the winner next month at the Bangkok International Gift & Bangkok International Houseware Fairs at the Challenger Hall, Impact Arena Muang Thong Thani. Doungchai said a number of international companies would be taking part in the event, so it would be a good opportunity to display locally produced toys. "In recent years, we and the rest of the world have faced a big problem from the overwhelming popularity of addictive computer games and electronic toys," she said. "However, many parents are turning to buying educational and child-development toys, especially in the US, which is our largest market. Last year, it grew by 28 per cent over the previous year. "New markets in Latin America also showed strong growth, particularly Brazil, where sales were up more than 100 per cent, and in Mexico, which expanded nearly 60 per cent." Last year, toy exports totalled Bt8.2 billion. The major export markets include the US, Britain and Japan. New markets to be targeted are Russia and countries in Latin America, she said.
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