Vietnam E-commerce Revenue Will Match Singapore in 2025

According to the Vietnam E-commerce White Paper in 2022 of the Department of E-commerce and Digital Economy (Ministry of Industry and Trade), Vietnam’s Internet economic revenue in 2025 could reach 57 billion USD, surpassing most countries in the region such as Thailand ($56 billion), Philippines ($40 billion), Malaysia ($35 billion), Singapore ($27 billion) and second only to Indonesia ($146 billion).

Currently Vietnamese People Spend an Average of 6 Hour

lower than the global average (6 hours 58 minutes) as well as some countries in the region, for example the Philippines (10 hours 27 minutes), Malaysia (9 hours 10 minutes), Thailand (9 hours 6 minutes), Indonesia (8 hours 36 minutes) or Singapore (7 hours 29 minutes).

Similarly, the percentage of Internet users who shop weekly in Vietnam is also much lower than in the countries mentioned above. With the Buy Bulk SMS Service expected growth rate in the coming time, the e-commerce market still has a lot of room for development.

In 2021, the Covid-19 pandemic will seriously affect trade and service activities of Vietnam as well as the whole world. The fact that some service industries account for a large proportion of negative growth has dragged down the overall growth of the service sector and the entire economy.

According to the General Statistics Office

the wholesale and retail industry decreased by 0.21% over the previous year, reducing 0.02 percentage points in the growth rate of total added CMB Directory value of the whole economy; the transportation and warehousing industry decreased by 5.02%, decreasing by 0.3 percentage points; the accommodation and food service industry dropped sharply by 20.81%, down 0.51 percentage points.

Summarizing the whole year of 2021, Vietnam’s economic growth is only 2.58%, the lowest in the past 30 years.

Even so, e-commerce still keeps a stable growth rate at 16%, retail revenue will reach 13.7 billion USD in 2021.

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