Southeast Asian E-commerce Transactions Increased by 14% in 2022

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Cindy Mutia Annur 21/06/2023 15:30 WIB

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According to a Momentum Works report, the gross merchandise value (GMV) of e-commerce in Southeast Asia reached US$99.5 billion in 2022, a roughly 14% increase compared to 2021.

Southeast Asia E-commerce Gross Merchandise Value (GMV) (2020-2022)

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Southeast Asia E-commerce Gross Merchandise Value (GMV) (2020-2022)

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According to a Momentum Works report, the gross merchandise value (GMV) of e-commerce in Southeast Asia reached US$99.5 billion in 2022. This represents a 14.23% increase compared to the previous year's US$87.1 billion.

GMV managed to increase despite the fact that Southeast Asian countries generally experienced higher inflation rates and central bank interest rate hikes in 2022.

"The Southeast Asian e-commerce sector faced strong headwinds in 2022. Despite all this, growth and competition continued," Momentum Works stated in its report.

Broken down by country, Indonesia was the largest contributor to e-commerce GMV in Southeast Asia in 2022, with a value of US$51.9 billion.

Thailand and the Philippines followed, with GMVs of US$14.4 billion and US$11.5 billion respectively.

The report also shows that Shopee was the e-commerce company with the largest GMV in Southeast Asia in 2022, at US$47.9 billion, or 48.14% of the region's total e-commerce GMV.

Shopee also recorded the largest GMV in each Southeast Asian country.

Lazada came in second with a GMV of US$20.1 billion in 2022. Lazada's GMV was the second largest in almost all Southeast Asian countries, except Indonesia.

Following were Tokopedia and Bukalapak with GMVs of US$18.4 billion and US$5.3 billion respectively. TikTok Shop and Blibli also recorded GMVs of US$4.4 billion and US$2.2 billion respectively.

Looking ahead, Momentum Works projects that the total e-commerce GMV in Southeast Asia will reach US$175 billion in 2028 under a normal scenario. In a best-case scenario, it could reach US$232 billion, while in a worst-case scenario, it would be US$121 billion.

Editor : Adi Ahdiat

"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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Southeast Asian E-commerce Transactions Increased by 14% in 2022

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Southeast Asian E-commerce Transactions Increased by 14% in 2022

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