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Vietnam’s E-commerce Value to Reach US$39 Billion by 2025

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

As per the White Book 2022, the total revenue of Vietnam’s Internet economy is forecast to reach US$ 57 billion by 2025, second only to Indonesia. Vietnam also has the second highest percentage of consumers shopping online in the region, after Singapore. The country’s business-to-customer (B2C) retail e-commerce revenue this year is estimated at US$ 16.4 billion.

The White Paper 2022 estimates that the country’s e-commerce economy would see several annual records this year. Specifically, it is estimated that for the first time, the number of online shopping consumers in Vietnam will reach 57 million people.

The value of online shopping for the first time reached US$ 260- $285 per person. The proportion of B2C e-commerce revenue will exceed 7%, reaching from 7.2%-7.8% market share in the total retail sales of consumer goods and services in Vietnam. On a global scale, the Vietnam E-commerce White Paper 2022 forecasts that retail e-commerce revenue will reach around US$ 5.6 billion this year, up about 12.7%. It is forecast that this number would reach US$ 7.4 billion by 2025.

According to an official from the Vietnam E-commerce Digital Economy Agency, the Vietnam E-commerce White Paper 2022 was built to provide a comprehensive view of the country’s e-commerce situation after the impact of the pandemic, along with new legal regulations taking effect.

Like previous publications, this White Paper is built from the results of a survey of nearly 5,000 consumers and about 10,000 businesses, along with aggregate data from several reputable organisations around the world. The COVID-19 pandemic significantly affected the trade and service activities of Vietnam and the world last year, the Vietnam E-commerce and Digital Economy Agency said. The negative growth of some service industries accounted for a large proportion, reducing the overall growth rate of the service sector and the whole economy.

In that context, Vietnam’s e-commerce still maintained a stable growth rate of 16%, retail revenue reached US$ 13.7 billion last year. The proportion of e-commerce retail revenue in the total retail sales of goods and services reached 7%, up 27% over the same period in 2020.

Entering 2022, the government’s decree dated 25 September 2021 amending and supplementing several articles of a decree from May 2013 on e-commerce officially came into effect. The legal framework for e-commerce activities has been improved to meet development requirements, especially in the context of Vietnam’s e-commerce growing rapidly in recent years, accounting for an increased proportion in the domestic trade system, contributing to building trust for consumers, as well as ensure the management role of the state.

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