Credit: Sara Lebow | Jul 29, 2022
Southeast Asia is home to the three fastest-growing ecommerce markets in the world. This year, Singapore will post 36.0% digital sales growth, while Indonesia will see an increase of 34.0% and the Philippines, 25.9%.
Beyond the chart: For only one of these countries, growth will also be impressive in absolute dollar amounts. Digital sales in Indonesia will increase by more than $20 billion, making its $80.95 billion ecommerce market one of the biggest on the list.
India, Indonesia, and Brazil—the three largest on the list—will collectively generate about “$230 billion in retail ecommerce sales this year, nearly double the rest of the top 10 combined,” said Ethan Cramer-Flood, senior forecasting writer at Insider Intelligence.