Taipei: Taiwan's exports of toys, gaming and sports devices for 2019 reached a new high in 23 years, largely because the awareness of keeping fit is on the rise worldwide, boosting demand for fitness equipment, according to the Ministry of Finance (MOF).
Data compiled by the MOF showed that outbound sales of toys and gaming and sports items totaled US$2.43 billion, up 7.9 percent from a year earlier.
In the year, with popularity of fitness equipment on the rise, the MOF said, exports in such items for 2019 totaled US$1.05 billion, up 17.7 percent from a year earlier, the data showed.
The MOF said the spike in fitness equipment exports reflected Taiwan's increasing strength in research and development in this area at a time when the industry was gearing up to upgrade itself in a bid to improve its global competitive edge.
Taiwan's exports in toy and gaming and sports devices hit a historic high of US$3.3 billion in 1992 to account for 4 percent of the country's total outbound sales, as the country was dubbed the "toy kingdom" before many manufacturers relocated their production resources to China for cheaper labor costs.
However, in the last decade, Taiwan has benefited from solid global demand for fitness equipment and golf items and saw exports in toys, gaming and sports devices hitting a 23 year high in 2019, the MOF said.
Still, the 2019 exports in toy, gaming and sports devices made up only 0.7 percent of Taiwan's total outbound sales, the MOF said.
In 2019, exports of golf items from Taiwan rose 8.9 percent from a year earlier to US$418 million, according to the MOF.
The MOF said the United States was the largest buyer of Taiwan made toys, gaming and sports devices in 2019, making up 48.1 percent of the total, ahead of China (9.0 percent), the United Kingdom (4.0 percent), Germany (3.4 percent) and the Netherlands (3.3 percent).
In terms of sports device exports, the U.S. also ranked as the largest buyer from Taiwan in 2019, accounting for 62.4 percent of the total, leaving the Netherlands and the U.K. a distant second, the MOF said.
The MOF added that the U.S. made up 33.4 percent of Taiwan's golf item exports, making it the largest buyer from Taiwan, ahead of China (26.5 percent), Japan (15.4 percent), the U.K. (6.1 percent), South Korea (4.2 percent) and Vietnam (3.0 percent).
The ministry said China has the potential to buy more golf equipment from Taiwan as its golfing population is on the rise
Source: Focus Taiwan News Channel