Vietnam's e-commerce market to reach $39 billion by 2025

Vietnam's e-commerce market will reach $39 billion by 2025 , ranking second in Southeast Asia in terms of e-commerce growth, according to the Vietnam E-commerce White Paper 2022. The report was released by the Vietnam E-commerce and Digital Economy Agency under the Ministry of Industry and Trade.

According to the 2022 White Paper, Vietnam's total internet economy revenue is expected to reach US$57 billion by 2025 , second only to Indonesia.

Vietnam is also the second-highest country in Southeast Asia for online shopping, after Singapore. Vietnam ’s business-to-consumer (B2C) retail e-commerce revenue is expected to reach $16.4 billion this year.

The 2022 White Paper predicts that Vietnam 's e-commerce economy will set several annual records this year. Specifically, it is expected that the number of online shoppers in Vietnam will reach 57 million for the first time.

In addition, Vietnam's online shopping transaction volume will reach US $260-285 per capita for the first time , and the market share of B2C e-commerce in Vietnam's total retail sales of consumer goods and services will exceed 7%, reaching 7.2%-7.8% .

An official from the Vietnam E-Commerce Digital Economy Agency said that the Vietnam E-Commerce White Paper 2022 aims to comprehensively understand the development of e-commerce in Vietnam after the impact of the epidemic .

It is reported that, similar to previous studies , this white paper is based on survey results of 5,000 consumers and about 10,000 companies, as well as aggregated data from some relevant organizations around the world.

The Vietnam E-Commerce and Digital Economy Agency said that last year's COVID-19 pandemic had a significant impact on Vietnam and world trade activities , with most service industries experiencing negative growth , which lowered the overall growth rate of the service industry and the entire economy.

Against this backdrop, Vietnam’s e-commerce industry has maintained a steady growth of 16%, with retail revenue reaching US$13.7 billion last year. E-commerce retail sales accounted for 7% of total retail sales of goods and services.

The Vietnam E-Commerce and Digital Economy Agency also stated that the decree of September 25, 2021 amended and supplemented several previous provisions on the e-commerce industry , which officially came into effect in 2022 .

In order to adapt to development needs, especially in the context of the rapid growth of Vietnam's e-commerce industry in recent years , the legal framework for e-commerce activities in Vietnam has been gradually improved .

As e-commerce continues to account for a growing share of Vietnam’s trade system , this will help increase consumer trust in online shopping and ensure the management role of the state and government .

Vietnam

E-commerce