Question

statistical analysis of economy loss in toys industry due to covid 19 in china

Answer 1

COVID-19 is a hazardous virus that has spread in every country of the world. Due to COVID-19, no human being can go to work or do their work. The affection of COVID-19 has seen in every profession, business, which leads to a decline in its economy. If we talk about China, then it was the most affected country from COVID-19 at a time, but slowly they are recovering, but the economic losses in various business industries are significant in number. There is a great loss in the toy industry in China because of COVID-19. China is a significant exporter of various products like toys, smartphones, and other things, and because of COVID-19, the exports of these products are zero in various countries, which leads to a significant loss for the toy industry. 80% of the toys are purchase by India from China every year, and this data is increasing every year. There is no business going on this time, which leads to no manufacturing of these toys and no exportation of these toys to a vast country like India. Many countries are now avoiding importing things from China because of the safety purpose, which affects the economic condition of the china and the toy industry. Approximately, there is an 80% drop in exports to other countries, which directly affects the country's economic level. Every country is suffering from the COVID-19, and because of it, there are no imports of toys from China.