Mexican toy industry estimates 10-percent decline in sales in 2010

Mexico's toy industry will sell10 percent fewer toys this year compared with last year, according to a Tuesday statement released by the Mexican Toy Association.

Miguel Angel Martin, the association's president, said the industry would earn no more than 1.78 billion Pesos (138.8 million U.S. dollars) this year, based on purchasing orders received by warehouses across Mexico.

Jan. 6 is the day when Latin Americans usually give children toys, saying that they are from three kings. Just like in the United States and northern Europe, parents give children toys on Dec. 25, saying they are from Santa Claus.

Martin said December and January represent the majority of all the toy purchases in Mexico.

Because of its close link to the United States, the source of the world recession, Mexico's economy has suffered most in Latin America.

Source: Xinhua