Business

Vietnam B2C retail e-commerce revenue to exceed 16 billion USD this year

Vietnam's B2C retail e-commerce revenue this year is estimated at 16.4 billion USD, marking the first year to reach this landmark, reported the Vietnam E-Commerce White Book 2022.
Vietnam B2C retail e-commerce revenue to exceed 16 billion USD this year ảnh 1Many attractive promotions on e-commerce site Shopee. (Photo: VietnamPlus)
Hanoi (VNS/VNA) - Vietnam's B2C retail e-commerce revenue thisyear is estimated at 16.4 billion USD, marking the first year to reach thislandmark, reported the Vietnam E-Commerce White Book 2022.

A representative of the Vietnam E-commerce and Digital Economy Agency (Ministryof Industry and Trade) said that Vietnam E-commerce White Paper was built toprovide a comprehensive view of the situation of the country's e-commerceapplication under the impact of the pandemic in the global e-commerce picturethis year, along with new legal regulations taking effect.

Similar to previously published publications, this White Paper is built fromthe results of a survey of nearly 5,000 consumers and about 10,000 businesses,along with aggregate data from a number of reputable organisations around theworld.

The COVID-19 pandemic has seriously affected trade and service activities of Vietnamand the world last year, said the Vietnam E-commerce and Digital EconomyAgency.

The negative growth of some service industries accounted for a largeproportion, reducing the overall growth rate of the service sector and thewhole economy.

In that context, Vietnam's e-commerce still maintained a stable growth rate at16%, retail revenue reached 13.7 billion USD last year.

The proportion of e-commerce retail revenue in the total retail sales of goodsand services reached 7%, up 27% over the same period in 2020.

Entering 2022, the Government's Decree No 85/2021/ND-CP dated September 25 lastyear amending and supplementing a number of articles of Decree No 52/2013/ND-CPdated May 16, 2013 on e-commerce officially came into effect.

The legal framework for e-commerce activities has been improved to meetdevelopment requirements, especially in the context of Vietnam's e-commercegrowing rapidly and strongly in recent years, accounting for an increasingproportion in the domestic trade system, contributing to building trust forconsumers, as well as ensure the management role of the State.

Vietnam's e-commerce value will reach 39 billion USD by 2025, ranking second interms of e-commerce growth in Southeast Asia.

Total revenue of Vietnam's internet economy is forecast to reach 57 billion USDby 2025, second only to Indonesia. Vietnam also has the second highestpercentage of consumers shopping online in the region, after Singapore.

In addition, according to data published in the Vietnam E-commerce White Paper2022, it is forecast that Vietnam's e-commerce economy would see a number ofannual records this year.

Specifically, it is estimated that for the first time, the number of onlineshopping consumers in Vietnam will reach 57 million people and may reach 60million.

The value of online shopping for the first time reached 260 - 285 USD perperson. The proportion of B2C e-commerce revenue will exceed 7%,reaching from 7.2% - 7.8%  market sharein the total retail sales of consumer goods and services in Vietnam.

On a global scale, the Vietnam E-commerce White Paper 2022 forecasts thatretail e-commerce revenue will reach 5.545 billion USD this year, up about 12.7%.

It is forecast that this number would reach 7.385 billion USD by 2025./.
VNA
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