Global electronics sales approach trillion-dollar mark

Friday, 7 January 2011 00:01 - - {{hitsCtrl.values.hits}}

Global electronic retail sales will approach $1 trillion for the first time in 2011, the US trade group the Consumer Electronics Association said in a study released Wednesday.

The study forecast 2011 sales of $964 billion, up 10 percent from 2010’s level of $873 billion. That will mark the second year of strong growth in retail electronics sales worldwide, after 2010 saw a 13-per-cent bump from the recession-hit levels of 2009.

‘If the economy holds up, $1 trillion is well within reach,’ Steve Koenig, director of industry analysis at CEA, said at a press conference.

The study, timed to coincide with the start of the Consumer Electronics Show, said that 2010 growth was strongest in Africa, with demand climbing by 70 percent. The Middle East saw growth of 25 percent, followed by 24 percent for China, 17 percent for Asia, 10 percent for North America and 8 percent for Western Europe.

The leading region for 2011 is expected to be Western Europe, where 23 percent growth is expected. Growth in North America will be around 15 percent, while China will see a 15-percent rise in electronics sales.