Gadget sales slumped in Singapore in Q42011

Of the five key Southeast Asian markets, Singapore was the only one to contract at 11.7%.

Compared to the fourth quarter in 2010, Singapore sold far less photo goods (-26.6%), information technology (-25.4%), and consumer electronics (-20%).

In contrast, its neighboring countries are seeing record growth in technical consumer goods.

"Developing markets of Indonesia and Malaysia continued their upward curve, outdoing their previous year’s 17 percent growth to achieve 28 and 25 percent this year. Vietnam and Thailand remained in positive territory with their 7 percent growth—although both registered reduced momentum from 2010’s 28 and 10 percent respectively," said GfK Asia who tracks the data via its technical market index also known as GfK TEMAX.

Commenting on sectoral trends for the past year, Gfk said: "Telecommunications and Major Domestic Appliances were the two sectors which displayed upbeat trends in every single market in the region. In fact, the former grew between 13 and 44 percent across the region with Indonesia emerging as top market for this sector, while Major Domestic Appliances hit the highest in Malaysia at 42 percent."

“The region of Southeast Asia is dominated largely by fast developing economies where penetration of the latest advanced technology is comparatively lower, presenting plenty of room for its continued growth and further development,” commented Mr. Kee.

“Gauging from the ongoing evolution, advancement, and ready adoption of major trends, products and new technology in the developed countries around this region, we can definitely foresee more exciting developments in the Southeast Asia’s Technical Consumer Goods industry in 2012,” he concluded.