Total toy sales in Greece posted an annual decline of 15 percent in 2011 compared with 2010, while a further drop is expected in 2012 sales, according to the ICAP Group.
The sector analysis conducted by the research company showed that in the three years from 2009 to 2011, the domestic toy market shrank at an average annual rate of 11 percent. The forecast for the decline this year compared with 2011 is estimated at 12.5 percent.
The toy sector in Greece is dominated by imports as domestic production is limited and concerns only traditional toys.
Domestic toy production (in wholesale prices) also contracted, shrinking at an average annual rate of about 6 percent, which is expected to climb to 7 percent this year.