E-commerce: Indonesia's Largest Contributor to the Digital Economy in 2023

Economics & Macro

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Cindy Mutia Annur 06/11/2023 16:01 WIB

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E-commerce was the largest contributor to Indonesia's digital economy in 2023. This is based on the latest report from Google, Temasek, and Bain & Company, titled e-Conomy SEA 2023.

Indonesia's Digital Economy Gross Merchandise Value (GMV) Projection by Sector (2023)

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Indonesia's Digital Economy Gross Merchandise Value (GMV) Projection by Sector (2023)

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E-commerce is the largest contributor to Indonesia's digital economy in 2023. This is based on the latest report by Google, Temasek, and Bain & Company, titled *e-Conomy SEA 2023*.

Indonesia's digital economy's gross merchandise value (GMV) in the e-commerce sector is estimated to reach US$62 billion in 2023. This contributes 75.6% to Indonesia's total digital economy GMV of US$82 billion this year.

However, the GMV of e-commerce in Indonesia grew slowly, only 7% year-on-year (YoY). Compared to 2022, the YoY growth of e-commerce GMV in Indonesia reached 20%.

Google, Bain & Company, and Temasek predict that the GMV of Indonesia's digital economy will continue to surge in 2025 and 2030. "Mostly driven by e-commerce," they stated in their report.

Besides e-commerce, other sectors contributing to Indonesia's digital economy GMV are online transportation/food delivery. The online taxi and motorcycle taxi (ojek online) sector is projected to have a GMV of US$7 billion in 2023, down 8% YoY.

Then, there's the online media sector, which also has a GMV of US$7 billion, a 5% increase YoY.

Meanwhile, the online travel sector is predicted to have a GMV of US$6 billion in 2023. This sector's annual GMV growth is the highest among other sectors, increasing by 68% YoY.

Indonesia still dominates the digital economy GMV in Southeast Asia in 2023. Below Indonesia are Thailand and Vietnam with digital economy GMVs of US$36 billion and US$30 billion, respectively.

Editor : Padjar Iswara

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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