Hong Kong

The metropolis of Hong Kong located on China’s south coast measures 1,103 km² in size and has a population of 7.19 million people. With a significant economic and financial sector to show for, Hong Kong is deemed one of the world’s most important cities. Hong Kong’s ideal geographic location proves to be its biggest advantage and a boon to international trade. One of its dominant sectors is the toy industry. As the second-biggest toy exporter, Hong Kong is a crucial transhipment point for the industry.

Hong Kong's economy

Hong Kong’s economic development produces impressive growth rates which are primarily due to a stable labour market with constantly declining unemployment rates and a very high per-capita income of US$ 60,000. The city’s geographic and economic situation make it a crucial trading partner and the gate to the Chinese market. Since Hong Kong as such has hardly any industries, almost its entire demand for consumer goods must be imported. In 2017, its volume of imports totalled US$ 561.4 billion. Its principal importing partners include Singapore, Japan, USA and especially, China. Exports valued at US$ 540 billion attest to the relevance of the commercial metropolis. The free trade agreement with ASEAN member countries resulted in a trading boom within the Asian region. Domestic consumption contributes to the economic performance at approximately 66%.

GDP in US$ bnGDP per capita in US$Imports in US$ bnExports in US$ bn
334.160,000561.4540

Hong Kong’s retail trade is recuperating following a decline in 2015/16. One reason for this is the return of tourists who primarily originate from China. Hong Kong is considered a shopper’s paradise throughout all of Asia. This is not only because of the large variety available, but also due to products being exempted from value added taxes.

Potential of Hong Kong toy market

12.19 % of Hong Kong’s population are younger than 15 and secure a solid, albeit discerning clientele for the toy sector. Tourists also boost the sales figures for toys. Hong Kong is the second-largest exporter of toys worldwide. The toys are frequently produced in China. Offices handling quality control, management, marketing, product design and production planning, on the other hand, tend to be headquartered in the metropolis. Hong Kong stands for a broad range of toys. The most important toy exports are listed in the following product groups:

  • toys made of plastic
  • dolls and doll houses
  • action figures
  • construction sets
  • toy guns
  • phantasy toys
  • gimmicks
  • beauty sets and doctor kits
  • tech toys
  • radio-controlled / remote-controlled toys
  • battery-driven toys
  • metal toys

 

The Hong Kong Toys & Games Fair is one of the biggest toy fairs in the Asia-Pacific region. This event gives the city a crucial starting point for the Asian toy market.