Vietnam is among the countries with the highest e-commerce growth in the region.

With large consumption power, e-commerce sales exceeded 20.5 billion USD/year last year, Vietnam is ranked among the countries with the highest e-commerce growth rate in the region and in the world . Vietnam's e-commerce revenue in 2023 will reach 20.5 billion USD, an increase of 25% over the previous year, putting Vietnam in the group of countries with the highest e-commerce growth rate in the region and in the world.

Vietnam is also an attractive destination for many businesses and cross-border e-commerce platforms to seize the opportunity for double-digit growth.

2023 will witness a breakthrough in the e-commerce sector, when the size of the Vietnamese retail e-commerce market in 2023 will reach 20.5 billion USD, an increase of about 4 billion USD (equivalent to 25%) compared to 2022. In the first half of this year, revenue reached 13.2 billion USD, an increase of 28% over the same period.

At the Vietnam E-commerce and Digital Technology Application Forum 2024, Ms. Lai Viet Anh, Deputy Director of the Department of E-commerce and Digital Economy, Ministry of Industry and Trade said: "Many large technology corporations have invested in new fields such as electronics, semiconductor chips, R&D, AI... Non-cash payments are also widespread with the rate of adults with payment accounts reaching 87%, exceeding the target for 2025".

Currently, e-commerce is not only developing in urban areas but also expanding to remote areas thanks to a strongly developed delivery system.

The National Strategy for Digital Economy and Digital Society Development to 2025 and Vision to 2030 sets the goal of digital economy development by 2025, with the proportion of digital economy to the country's GDP reaching about 20%.

By the end of 2023, the e-commerce sector will contribute about 15% -17% to the total value of the national digital economy.

The potential for e-commerce development is still very large, because e-commerce accounts for about 8% of the total retail sales of goods and consumer service revenue of the whole country.

Vietnam's e-commerce has an average growth rate of 25% per year, with more than 61 million Vietnamese shopping online and an average purchase value of about 336 USD per person.

The value of e-commerce transactions in the first 6 months of 2024 continued to grow strongly, reaching 13.2 billion USD, an increase of 28% over the same period last year. Many manufacturing enterprises have grown dramatically thanks to e-commerce business.

According to information published in the online retail market overview report for the third quarter of the Metric e-commerce data platform, the total transaction volume (GMV) of the first 9 months reached VND 227,700 billion, an increase of 37.66% over the same period in 2023.

Transaction turnover on 5 platforms Shopee, TikTok Shop, Lazada, Tiki and Sendo reached an average of 25,300 billion VND/month (nearly 1 billion USD), with livestream and cheap goods being popular.

The increase in e-commerce business of manufacturing enterprises and e-commerce platforms, intermediary digital platforms such as Lazada, Sendo ... has contributed to creating many jobs.

E-commerce is growing rapidly, but the Ministry of Industry and Trade admits that it has been revealing many unsustainable factors, especially negative impacts on the environment.

The Ministry hopes that industry associations and businesses will optimize transportation methods, use recycled and environmentally friendly materials to package goods, and reduce emissions.

Vietnam.vn