Vietnam in top-10 countries with leading e-commerce growth rate

The Industry and Trade Ministry yesterday shared that e-commerce activities in Vietnam last year effectively exploited the purchase power of the market, resulting in a significant rise compared to the overall growth rate of the national economy.

E-commerce is blooming in Vietnam

Accordingly, the revenue increase in the total retail sales and services via e-commerce in 2023 surpassed the industry’s set target of 8-9 percent.

The domestic merchandise supplies are abundant and can easily answer the demands of the community, leading to quite static prices and successfully contributing to controlling inflation and stabilizing the market.

The Industry and Trade Ministry further informed that e-commerce became one major goods distribution channel in Vietnam besides conventional ones like markets, supermarkets, department stores, and convenience stores. E-commerce helped boost the consumption of produce and food, especially during harvesting time.

Various businesses enjoyed remarkable growths thanks to e-commerce.

In 2023, Vietnam’s retail e-commerce market earned about US$20.5 billion, accounting for 8 percent of the country’s revenues on consumer goods and services. It reached the growth rate of 25 percent, entering the list of top-10 nations with the leading e-commerce growth rate in the world.

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