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Vietnam’s toy and game production falls in 2024

Vietnam’s toy and game manufacturing sector declined by 3.2 percent in December compared to November, according to Vietnam’s Industrial Production Index.

Year-on-year, the sector contracted by 6.8 percent in December compared to December 2023. For the full year, cumulative production decreased by 1.6 percent in 2024 compared to 2023, highlighting ongoing challenges in this industry.

The monthly and annual declines could reflect reduced global demand, heightened competition, or potential disruptions in supply chains. The contraction suggests difficulties in maintaining Vietnam’s position in toy and game manufacturing amidst changing market dynamics.

Vietnam’s toy manufacturing industry relies heavily on export markets, making it vulnerable to shifts in consumer preferences and economic conditions in other parts of the world. Despite the decline, investments in innovation and quality improvements could help the sector recover and adapt to evolving market demands.

The performance in 2024 highlights the need for strategic adjustments to regain competitiveness and ensure long-term growth in this industry.

See also: Vietnam’s Toy Industry: Overview

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