Viet Nam’s e-commerce hits US$25 billion in 2024
VGP - Viet Nam’s e-commerce market hit US$25 billion in 2024, up 20 percent compared to the previous year, making up 9 percent of the nation’s total retail sales and services revenue.
This figure exceeds the earlier projection of US$22 billion made by Google, Temasek and Bain & Company in their 'e-Conomy SEA 2024' report.
In Southeast Asia, Viet Nam's e-commerce scale now ranks third, after Indonesia (US$65 billion) and Thailand (US$26 billion).
E-commerce accounts for two-thirds of the value of Viet Nam's digital economy.
Viet Nam's e-commerce continues to maintain impressive annual growth rate of 18-25 percent, according to a report by Digital Economy Agency under the Ministry of Industry and Trade.
E-commerce and the digital economy in Viet Nam continue to post double-digit growth, making Viet Nam one of top 10 nations with fastest growth pace in e-commerce, creating impetus for the enhancement of digital economy and transformation.
Viet Nam is among the world's top 10 countries with highest e-commerce growth pace, which has injected momentum for economic growth and helped promote digital transformation among enterprises.
Currently, Viet Nam has nearly 725,000 organizations and individuals conducting business on e-commerce platforms, with a total transaction value exceeding VND75 trillion (nearly US$3 billion), according to the tax authority.
Tax revenue from e-commerce activities in 2024 rose by 20 percent year-on-year, reaching VND116 trillion (US$4.57 billion)./.
