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Vietnam's e-commerce ranks 5th in the world in terms of growth rate

Que Anh Tuesday | 12/27/2022 08:54

Illustration (Photo: Internet)

The size of the e-commerce market in Vietnam's retail industry in 2022 is anticipated to be $16.4 billion, accounting for 7.5% of total consumer goods and services revenue in Vietnam.

The size of the e-commerce market in Vietnam's retail industry in 2022 is anticipated to be $16.4 billion, accounting for 7.5% of total consumer goods and services revenue in Vietnam.

According to the Ministry of Business and Trade, with a growth rate of 20% each year, Vietnam is recognized by eMarketer as one of the top five countries in the world for e-commerce growth.

As the post-Covid-19 recovery period begins, e-commerce is one of the digital economy's pioneering industries, acting as a driving force for economic development and guiding digital transformation in organizations.

In 2022, the Ministry of Industry and Trade collaborated with localities to conduct several e-commerce connection initiatives in provinces and towns such as Hung Yen, Bac Giang, Hai Duong, Quang Ninh, Ha Tinh, Thai Binh, Can Tho, and the Mekong Delta area.

The program has assisted thousands of firms in approaching the way of distributing items on e-commerce and developing customer purchasing habits, consequently generating income for enterprises.

Furthermore, cross-border e-commerce cooperation initiatives with partners such as significant international e-commerce platforms such as Amazon and Alibaba have been aggressively implemented, assisting small and medium-sized businesses in increasing exports.

Through these programs, Vietnam's strong products (agricultural products, processed meals, handicrafts, industrial consumer goods) may be exported straight from producers to the domestic market. Many countries throughout the world have benefited from e-commerce.

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