Indonesian Market for Jinhua’s Toys
On June 13, representatives of the Indonesian Toy Association visited and investigated several toy companies in Jinhua. At the procurement meeting of toys and juvenile products, the Jinhua Toy and Juvenile Product Association concluded a strategic cooperation agreement with the Indonesian Toy Association.
Jinhua has always attached great importance to its economic and trade contacts with Indonesia, the largest country in Southeast Asia. In 2018, the trade volume between Jinhua and Indonesia was 924 million USD, an increase of 37.41% over the same period the previous year. Jinhua’s exports to Indonesia reached 850 m USD, an increase of 32.64%, while Jinhua’s imports from Indonesia accounted for 74 m USD, an increase of 133.48%.
Sutjiadi Lukas, president of the Indonesian Toy Association, says that Indonesia and Jinhua have a good foundation for economic and trade exchanges. He hopes that the exchange and communication can build a bridge for toy and juvenile product enterprises in both Indonesia and Jinhua and more comprehensive and in-depth cooperation can be reached. He says that there are 4.5 million new babies in Indonesia every year, which creates a large market for toys and baby products. There is great potential for economic and trade cooperation between the two parties. He welcomes Jinhua’s enterprises to visit Indonesia.
Jinhua has over 3000 toy companies, which are mainly in Yiwu, Yongkang, Dongyang, Jindong District, and Jinyi Urban District. The toy companies mainly engage in the exports of plastic and soft rubber toys, DIY puzzles, magnetic toys, scooters, and segways. In 2018, Jinhua’s total imports and exports of toys reached 2.967 billion USD. The export volume achieved 2.964 bn USD, a year-over-year increase of 11.91%, and the import volume was 2.81 m USD, an increase of 212.9%.
According to Sheng Jianyong, president of the Jinhua Toy and Juvenile Product Association, with the construction of the Belt and Road, Jinhua’s toy companies are paying more attention to toy and juvenile product fairs held in countries along the Belt and Road, including Indonesia, Turkey, Russia, and more. In this way, Jinhua’s toy companies are expanding their marketing channels. (By Sun Yuanyuan, translated by Jin Haiqiong, edited by Kendra Fiddler)