The country’s total toy exports reached $4.18 billion in the first seven months of the year, up only 2.1 per cent. The growth declined 22.4 percentage points year-on-year.
Guangdong, which accounts for around 70 percent of the country's total toy exports, exported $2.91 billion during that period, up 4.8 per cent year-on-year. The growth declined 39 percentage points.
China Business News reported that the fall has been influenced by many factors including the US credit crisis, the appreciation of the renminbi, export tax rebate cuts and rising production costs.
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