Global cross-border e-commerce is growing, fuelled by digitalisation and rising consumer demand. Global B2C e-commerce sales have more than doubled from USD 2.4 trillion in 2017 to USD 5.3 trillion in 2022 and are expected to maintain a high growth trajectory in the coming years. ASEAN countries are well-positioned to capitalise on this growing trend. This potential for e-commerce export growth in ASEAN is underscored by the increasing global demand for online shopping. Although physical retail remains popular, consumers worldwide are increasingly turning to e-commerce, driving substantial increases in export revenues for businesses in the ASEAN-6. Innovations in digital payments are facilitating smoother transactions both domestically and internationally while advancements in Artificial Intelligence (AI)-powered tools for use-cases like demand forecasting and marketing are helping businesses to access new markets.
For MSMEs, these technological advancements are particularly transformative. Digital solutions are breaking down traditional barriers to entry, enabling even the smallest businesses to compete on a global scale. By harnessing these digital tools, ASEAN-6 businesses can enhance productivity, improve customer reach, and capitalise on the growing global e-commerce market. As the region continues to embrace digital transformation, opportunities for cross-border e-commerce are set to expand, offering a robust pathway for economic growth and international trade.
Despite the growing body of research on e-commerce in ASEAN, there are still significant knowledge gaps regarding the region’s export potential. While much attention has been given to domestic e-commerce, the export opportunities remain relatively unexplored. Access Partnership has estimated the size of e-commerce exports in key Asian countries, with this report containing the estimates for e-commerce exports from ASEAN-6 countries in 2023 and 2028. It also provides insights from MSMEs in ASEAN-6 on their current and future e-commerce engagement, as well as consumer insights from key overseas export destinations. Finally, the report analyses the policy landscape in the region and suggests potential policy references that can help expand the e-commerce industry in ASEAN-6.
Download the reports here: https://accesspartnership.com/transforming-trade-the-e-commerce-revolution-in-asean/
November 19, 2024
