ECDB: Indonesia Projected to Have World's Highest e-Commerce Growth in 2024

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Erlina Fury Santika 29/04/2024 15:06 WIB

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The German e-commerce research institute, ECDB, projects Indonesia's e-commerce growth to be the highest globally, reaching 30.5% in 2024.

Top 10 Countries with the Highest Projected e-Commerce Growth Globally in 2024

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Top 10 Countries with the Highest Projected e-Commerce Growth Globally in 2024

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The German e-commerce research institute, ECDB, has named Indonesia as the country with the highest projected e-commerce growth in the world in 2024, reaching a growth rate of 30.5%.

This projection is almost three times higher than the global average of 10.4%.

Mexico holds the second highest projected e-commerce growth globally at 26.8%, followed by Thailand at 22.9%.

Iran and Malaysia occupy the fourth and fifth positions with growth percentages of 22.1% and 21.4%, respectively.

The remaining countries in the top ten include the Philippines, Peru, India, and Vietnam, as shown in the graph. ECDB revealed that this top 10 list is dominated by Asian countries.

"Asian countries occupy 8 out of 10 spots for the fastest-growing e-commerce markets, and Indonesia is projected to grow by more than 30% in 2024," wrote ECDB in a report cited on Monday (April 29, 2024).

ECDB also calculated that total online retail sales from the 150 countries studied reached almost US$2.2 trillion in 2023. The global e-commerce market is dominated by China, with estimated revenue of US$2.17 trillion in 2023.

These projections were made using various techniques adapted to market behavior. Driving factors considered include gross domestic product (GDP) per capita, consumer spending per capita, internet penetration, and population size.

Editor : Erlina Fury Santika

"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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