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ฝ่ ายวิจัย ภาวะธุรกิจและอุตสาหกรรมปี ๒๕๔๓

บรรษัทเงินทุนอุตสาหกรรมแห่งประเทศไทย

Toys
Toys are playthings intended for not only enjoyment but
also creativity and intellectual development of children. In the
early days, toys were largely an imitation of pets or wild
animals made of carved wood or stone or any kinds of
objects available in each community. Some samples of these
toys were cockhorse, an imitated horse made of stalks of
banana tree for Thai children, and balls made from bladder of
goat or sheep for Indian children. Toys of some ancient
tribes were used as playthings for children as well as home
decorations or for worshipping the sacred images in their
beliefs. Toys for sales were mostly made of tin and have
been developed all along to metal and plastic nowadays.

Today, toys are vital to the Thai industrial sector since


they are directly and indirectly related to other backward
linkage industries. For example, plastic toys are produced
from plastic resin of the petrochemical industry, or wooden
toys are primarily made of rubber wood. Furthermore, the
toy industry not only is associated with packaging,
transportation and insurance services, but also ensures
optimum utilization of resources such as scraps of wood or
cloth for making toy parts. Toys can be classified either by
type of materials or by application.

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ฝ่ ายวิจัย ภาวะธุรกิจและอุตสาหกรรมปี ๒๕๔๓
บรรษัทเงินทุนอุตสาหกรรมแห่งประเทศไทย

By type of materials, toys are classified into three


groups:
- Plastic or metal toys share the largest 70% of
the total toy production. They are the type of
Original Equipment Manufacturer (OEM) product,
using production techniques and raw materials
from abroad. They are subdivided into two
segments: mechanical toys which are medium to
high quality products mainly for export; and non-
mechanical toys such as model airplanes made
from plastic or metal chiefly distributed in the
local market due to their cheapness.
- Stuffed toys constitute about 15% of the total
production, made of cotton, wool and synthetic
fabric.
- Wooden toys are largely produced from rubber
wood, making up around 15% of the total
production.

Classified by application or HS code, there are three


types of toys:

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- Wheeled toys, like tricycles or doll’s carriages,


are made of metal or plastic, categorized under
HS code 9501.
- Dolls or stuffed toys are made of cloth stuffed
with kapok or synthetic fiber in human or animal
characters. They are categorized under HS code
9502.
- Model toys are primarily assembled items or toys
for educational purpose, classified under HS code
9503.

Production
The Thai toy production was originally small- and
medium-scale industry producing cheap toys to serve the
domestic demand only. Later, the Board of Investment
began its earnest promotion of toy production to become an
export-oriented industry by way of tax privileges such as
exemption of import duty on imported raw materials, reduction
of corporate income tax for export-oriented producers, etc.
Such move could attract joint venture investments by foreign
investors mainly from Hong Kong, Taiwan, Japan and the US.
At present, there are over 300 toy manufacturers in Thailand.
More than 80% of the total toy production is exported.

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In toy production, prudent selection of raw materials is


essential since toys are subject to high safety standard
requirements. Hence, a thorough inspection is a must.
Examination is made at all production steps ranging from
selection of raw materials to test of toxicity of chemicals
applied. Toys produced must also meet the specifications of
each importing country.
Raw materials form the biggest part of production costs,
accounting for 35%-60% of the total. For plastic toys, major
raw material is unused plastic resin to ensure safety for the
children. More than 70% of plastic resin consumed has to be
imported owing to insufficient domestic supply. In the case of
wooden toys, raw material used is rubber wood available
locally. Raw materials of stuffed toys are also procured
locally, including cotton, terry or materials left from other
industries.
Toys are a labor-intensive industry. Wooden toy
production exploits the largest workforce, with labor cost
accounting for 30% of the total costs as labors are needed at
all stages. The labor cost of stuffed toys makes up about
25% of the total costs and plastic and metal toys 20%, which
is the lowest of all since parts of these toys are machine-
made while labors are needed at only some stages.

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Production cost structure (%)


Item Raw Labor Other Total
materials cost expenses
Plastic and 60 20-25 15-20 100
metal toys
Stuffed toys 55 25 20 100
Wooden toys 35 30 35 100
Source: Commodity Division, Department of Foreign
Trade, Ministry of Commerce

Marketing
The Thai toy industry is export-oriented, with as much as
80% of the total production shipped to the overseas markets.
The primary export markets comprise:

- The US is the world’s largest toy market since


the Americans give high priority to the children.
Particularly, in such festive events as birthday,
Easter and Christmas, parents usually buy toys
as presents for their children. Best selling
items are stuffed toys copying Walt Disney
cartoon characters such as Pooh, Buck Bunny,

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which is best sold during Easter festival, Santa


Claus dolls, which are in great demand during
Christmas time, etc. Other popular items are
creativity-oriented toys. Toys are available at
department stores and chain stores like Toys
“R” Us. China is the largest supplier to this
market, accounting for 82.2% of the total toy
imports. Thailand is in the ninth rank, sharing
1.02% of the total imports of about US$ 9.589
billion in 2000.

The US’s Toy Imports Value by Country

Countrie
China
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- The EU comes second after the US, with


Germany, France, Italy, Belgium and Holland
as major markets. Buyers are primarily women
purchasing toys for their children or close
relatives. Selection is made based chiefly on
design, quality, price and safety. Most popular
items are plastic toys such as Barbie dolls,
stuffed dolls and wheeled toys. The EU
formerly imported toys from among its member
countries, but later on shifted to China due to
lower production costs as fueled by very cheap

Countrie
labor cost. In 2000, China occupied roughly
52.8% of the EU’s total toy imports of
approximately US$ 6.626 billion while Thailand
constituted 1.1% valued at US$ 74.85 million,

China
ranking eighth.

The EU’ s Toy Imports Value by Country

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- Japan is the leading toy market in Asian


region. The best selling items are stuffed
animal dolls and electronic toys. Most buyers
are parents or old relatives purchasing toys for
their kids or young relatives, with preference for
toys of good quality or educational value and
those that family members can play together.

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Products are partly supplied by Japan’s


reputable manufacturers, Bandai and Sega, and
partly imported. The largest supplier to Japan
is China, followed by the EU. Thailand comes
third, principally producing on a subcontracting
basis under designs and trademarks of the
Japanese importers. In 2000, Japan’s imports
from Thailand amounted to US$ 49.5 million or
about 3.9% of the total imports.

Japan’s Toy Imports Value by Country

Countries
China
EU
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Exports
Between 1992 and 1998, Thailand’s toy exports
amounted to over Bt. 7 billion or US$ 300 million a year,
representing an average annual growth rate of about 1.8%.
1999 saw a 2.76% fall in such exports, triggered by economic
stagnation in the major markets like Japan and Germany,
which had consequently cut their purchase orders for Thai
toys. Another negative factor was the more expensive Thai
toys as compared with those of China and Vietnam which
boast lower production costs. Some producers consequently
relocated their production base from Thailand to China.
In the US dollar term, the exports have slid steadily
since 1996 on account of the baht fluctuation after the
adoption of the managed float exchange system. During
1996-1999, the exports were valued at approximately US$ 310
million, US$ 265 million, US$ 220 million and US$ 230 million
respectively.
Total exports in 2000 in the dollar term remained
unchanged at US$ 230 million against those in 1999, but
posted a growth of about 6.1% in baht term, worth about Bt.
9.255 billion. This was because some kinds of toys were in
great demand in the overseas markets. Among them were
wooden toys which have won greater acceptance in the world
market and been recognized as “Wood Toy is Thailand”.

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Due to the unique, magnificent and hard-to-copy designs,


there are large purchase orders for Thai wooden toys from
the overseas markets. However, the overall toy exports
remain unfavorable.

Thailand’s Total Toy Exports and Export Market Structure In


2000

YEAR
The prominent export markets in 2000 still were the US,

1996
the EU and Japan. Exports to the US were the largest,
accounting for about Bt. 3.263 billion or US$ 98.3 million,
representing 35.3% of the total toy exports. Coming second
was the EU market, with export value of Bt. 2.667 billion or

1997
about US$ 74.8 million, sharing 28.8% of the total export value.
Major buyers in the EU were England, France and Germany,

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with export value of Bt. 824.7 million, Bt. 527.8 million and Bt.
513.4 million respectively.
Japan ranked third, with the amount of Bt. 1.755 billion or
about US$ 49.5 million, sharing 19% of the total exports.
Other export markets included Canada, Malaysia, South Korea,
Australia, etc., with a combined value of about Bt. 1.570 billion
or 16.9% of Thailand’s total toy exports.

Exported Items
Ride-on wheeled toys - Exports of wheeled toys were
worth about Bt. 141.7 million or 1.6% of the total toy exports
in 2000, growing 37.6% from 1999 as spurred by increased
exports to the US and Japan. The principal markets are the
EU, the US, Japan and Australia.
In 2000, the EU occupied the highest proportion of
43.8% of the total exports of wheeled toys. Major markets in
the EU were England, France and Germany. Classified by
country, the US came first at 20.8% of the total exports of
wheeled toys, followed by Japan 7.9% and Australia 6.8%.
Thai exports to the US, Germany and Austria increased
threefold in value versus the figures in the preceding year.

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Export value of Wheeled Toys by Country

Countries
2539
EU 49,450,
U.S.A.
Source: Department of Business Economics
1,715,
JAPAN 1,709,
Dolls or stuffed toys - These items are in great demand
in the overseas market. In 2000, the exports of dolls were
valued at about Bt. 423.4 million or US$ 10.5 million,
constituting 4.6% of the total toy exports and rising roughly

AUSTRALIA 20,485,
20% from 1999.
The biggest market in 2000 was the EU, accounting for
Bt. 166.2 million or 40% of the total doll exports, with

CANADA 55,
Germany, Belgium and Italy as the key buyers. The second
was the US accounting for 38% or about Bt. 164.7 million,

SAUDI ARABIA 8,700,


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followed by Norway, Australia and Japan with a value of Bt.


15.8 million, Bt. 13.7 million and Bt. 12.1 million respectively.

Export value of Dolls by Country

Countries
2539
EU 227,585
U.S.A.
Source: Department of Business Economics 131,698
NORWAY 14,386
Assembled model sets and other toys for educational
purpose - Thai exports of these items in 2000 totaled about
Bt. 8.690 billion or US$ 216.4 million, making up 93.9% of the

AUSTRALIA 2,457
total toy exports and increasing 5% from 1999.

Countries
Export value of Model Toys and Other Toys by Country

JAPAN 2539
12,855
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Source: Department of Business Economics

The major importer of Thai toys in 2000 was the US,


accounting for about Bt. 3.069 billion or 35.3% of the total
exports of assembled models and other toys, followed by the
EU valued at Bt. 2.401 billion or 27.6%. The main markets
in the EU were England, France and Germany. Exports to
Japan, which ranked third, amounted to about Bt. 1.732 billion
or 19.9%. Other markets included Canada, Malaysia and
South Korea with export value of about Bt. 246.7 million, Bt.
220.5 million and Bt. 133.8 million respectively.

Local Market

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The local market demand is partly met by some 20% of


the total local production and partly by imports. The local
market can be segmented as follows:
- High-tech toys: These toys, mostly imported,
embody beautiful colors, are mechanically
operated and have superior quality. They are
primarily expensive and sold in department
stores. The target customers are high-income
earners who prefer quality goods.
- Medium-grade toys: These items are produced
locally by medium-sized factories using OEM
production technology. Some are imported
from China, India or Vietnam. The selling
prices are not quite high. They are marketed
at shopping centers or retail outlets in
department stores. There is a wide diversity of
these toys such as dolls, mechanical toys, etc.
They have a broad market size.
- Low-grade toys: Most of these toys are
produced by small local factories or imported
from China and Vietnam, marketed in small
shops and stalls. They are of low quality,
cheap and easily broken and largely made of

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plastic, like water pistols. The target group is


low-income class.

Imports
The major imported items are high-quality model toys for
educational purpose, mainly high priced and available in
toyshops and department stores. Others of them are plastic
model toys easily procurable. During 1996-1998, the total
imports slipped continuously due to the crisis hitting Thailand
which had dampened purchasing power. The imports fell
26.7% from US$ 35.6 million to US$ 26.1 million over such
period.

Thailand’s Total Import Value and Import Source Structure In


2000

THAI IM
YEAR B
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In 1999, the imports could yet again grow, by 28.7%


from 1998 with a value of about US$ 33.6 million. Such
improvement was spurred by a slight recovery in Thai
economy. Several importers thus started to place orders after
having suspended for a while. Further growth of 2.4% was
posted in 2000, with import value of about US$ 34.4 million
or some Bt. 1.382 billion.
However, the imports in baht term escalated constantly
from about Bt. 900 million in 1996 to nearly Bt. 1.4 billion in
2000, representing an average annual growth rate of 12% as
fueled by the unstable baht value.

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Thailand’s Toy Imports by Country (Bt.)

Countries
China
Source: Department of Business Economics 4
HongKong
Major supplier in 2000 was China from which Thai
imports were Bt. 864.8 million, or 62.6% of the total toy
imports, followed by Hong Kong amounting to Bt. 127.4 million

Malaysia
or 9.2%. Among others were Malaysia, Japan and Taiwan
with Thai import value of about Bt. 108.1 million, Bt. 56.9
million and Bt. 55.9 million respectively.

Japan 1
Imported Items
Wheeled toys - Imports of wheeled toys in 2000 were
valued at Bt. 22.1 million, up almost eight-fold from 1999,
contributed by huge imports of scooters for sales in

Taiwan
department stores and other shops. These toys are chiefly
imported from China and Taiwan.

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Thailand’s Imports of Wheeled Toys by Country

Countries
2539
CHINA
Source: Department of Business Economics

Dolls or stuffed toys - Imports of these toys in 2000


1,143
TAIWAN 8,332
totaled Bt. 61.9 million or about US$ 1.5 million, accounting
for 4.7% of the total toy imports and jumping 41.5% from the
preceding year. These items are mostly imported from China,

EU 1,609
occupying 78.8% of the total imports of dolls in 2000, followed
by Indonesia, Taiwan, the EU and South Korea constituting
8.1%, 4.0%, 2.6% and 2.2% respectively.

HONGKONG
Thailand’s Imports of Dolls by Country

U.SC
.Aountries
. 1,079
2539
SINGAPORE 77
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Source: Department of Business Economics

Assembled model sets and other toys - In 2000, imports


of models and toys for educational purpose amounted to Bt.
1.298 billion or about US$ 32.3 million, representing 97.8% of
the total toy imports, about the same as that in 1999.

Thailand’s imports of assembled model sets and other toys by


country

Countries
2539
CHINA 427,434
HONGKONG 80,354
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Source: Department of Business Economics

Thailand’s current export condition


The past four to five year statistics show a small
increase in Thai toy exports every year, except for 1999 when
the exports shrank by about 2.8% or Bt. 247.9 million to Bt.
8.725 billion. In 2000, the exports increased again, to Bt.
9.255 billion, on account of the weak baht. However, in US
dollar term, the exports went down continuously between 1996
and 2000, from US$ 310 million to US$ 230 million.
The main reason for the Thai export contraction is the
competition from China which occupies the world toy market
share of over 80% which is likely to expand steadily. Aside
from China, other key rivals are South Korea, Taiwan, Hong
Kong and Vietnam which is seizing the market share from
Thailand.
As of the third quarter of 2001, Thailand’s exports were
valued at Bt. 7.3 billion, a 8.1% year-on-year increase. The
US was still the biggest export market, followed by the EU
with main markets in France, the UK and Germany, and

TOTAL
Japan coming third.

COUNTRIES
Thailand’s Toy Exports In the Third Quarter Of 2001

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Source: Department of Business Economics

In the first nine months of 2001, the exports of wheeled


toys grew about 22% from the same period of 2000, valued
at about Bt. 118.5 million, thanks to increased exports to the
EU and the US, which ranked first and second. The exports
of dolls and stuffed toys posted a 4.1% year-on-year
decrease, valued at about Bt$ 301.8 million. Other toys like
electric trains, railroads and other parts, assembled models,
musical instrument miniatures and toys for intellectual
development took over the largest export proportion, altogether
worth Bt. 6.9 billion by Q3/2001, up by 8.6% year-on-year.

Standards Adopted on Toys

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- The American Society for Testing and Materials


(ASTM) and the Consumer Product Safety
Commission regulate the quality of imported toys and
those sold in the US. An example of their
regulations is the Potential Hazards of Stuffed Toys
which pays attention to components of the stuffed
toys such as eyes or other parts that are harmful to
the children, etc.
- EN-71 is the law concerning safety standards of toys
imported to or sold in the EU. This involves safety
and prevention of dangers arising from toys such as
electricity, sanitation, chemicals and ignition.
- Safety Standard Mark (ST Mark) is the certification of
toy safety standard adopted by Japan. The
Japanese government will pay compensation for the
consumers who get injured from toys bearing the ST
mark. All toys, particularly those for babies below
the age of 18 months, must pass the formalin test
under the Food Sanitation Law.
- Australia Toy Safety Standard is applied to toys in
Australia such as inspection of paints or toxicity of
the toys. Such standard is quite similar to the US’s.

Problems and Threats

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A major threat to the Thai toy industry is competition


from lower-cost countries in terms of raw materials and wage
rates such as China, Indonesia and India. Thailand has less
price competitiveness with these rivals. China, in particular,
has abundant labor force which gives it a competitive edge in
labor-intensive products such as dolls or small plastic toys.
China’s lower production cost has prompted several producers
to move production base from Thailand to China.
Another problem is shortage of skilled labors, especially
in designing. The toy production in Thailand is primarily
performed based on the standards and designs specified by
the brand owners and buyers. This leads to a lack of own
design creation or brand building and inability to compete with
the European producers which offer a wider diversity of
products. In addition, Thailand is falling short of certain raw
materials like rubber wood for wooden toy production due to
greater exports of rubber wood which has relatively resulted in
a smaller amount of wood supply and a higher wood price.
Thai exports are also threatened by the rigid product
safety standards in such principal markets as the US, the EU
and Japan. The EU has adopted the sanitation principles and
precaution systems to safeguard their consumers. For
instance, toys containing any of the six phthalates, i.e. DINP,
DEP, DNOP, DIDP, BBP and DBP, by more than 0.1% are

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banned since such substances are harmful to health.


Therefore, Thai producers must keep up with the movement
and trend concerning safety standards of raw materials.

Conclusion
Today, the toy industry, though meant for export
orientation, still performs unfavorably in overall export value.
Meanwhile, Thai imports of toys are mounting up after a
slowdown during the crisis period in 1997-1998. The exports
of toys amounted to US$ 230.5 million in 2000, close to those
in 1999. As of Q3/2001, they expanded by 8.1% year-on-
year, valued at Bt. 7.3 billion.
The main drawback to the Thai toy exports is
competition from the key rival, China, in the prominent
markets such as the US and the EU. With its lower labor
cost, China can capture over 80% share in the world toy
market. As a result, the share of Thai toys in major
markets, particularly for dolls which do not require high skills,
has shrunk.
Apart from the labor cost, problems also arise from raw
materials. Certain materials such as plastic resin and cloth
that must be imported are charged with high import tariffs,

26
ฝ่ ายวิจัย ภาวะธุรกิจและอุตสาหกรรมปี ๒๕๔๓
บรรษัทเงินทุนอุตสาหกรรมแห่งประเทศไทย

resulting in increased production costs. In addition, raw


material like rubber wood is becoming scarce because it is
increasingly exported. On the technical front, Thailand has
lagged behind Hong Kong, Japan and the US as it must still
rely on technology abroad, thus weakening Thai
competitiveness in high-tech toy markets.
To bolster competitiveness in the toy industry, the Thai
toy producers must develop skills and production technique
with a focus on quality upgrading, product diversification, and
use of modern and sophisticated production technology. More
should also be done to create own unique designs, tap new
markets to head off the ever-intensifying competition and
upgrade the products to the middle and high-end markets to
shift away from competition from China and Vietnam in the
low-end markets. The producers should rely more on the
local raw materials to ease the high costs incurred from
imported raw materials and to create value added to the
products, e.g. rubber wood used to produce wooden toys.
The Thai wooden toys have a bright prospect in the global
market and have enjoyed a sharp export growth since they
are acceptable for quality, safety and beautiful design.
However, as the wooden toys occupy only a small portion of
the overall exports, the Thai toy exports on the whole remain
bleak.

27
ฝ่ ายวิจัย ภาวะธุรกิจและอุตสาหกรรมปี ๒๕๔๓
บรรษัทเงินทุนอุตสาหกรรมแห่งประเทศไทย

28

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