Business

Global e-commerce volume hits $26.7T in 2019

Written by The Frontier Post

F.P. Report

ANKARA: Global e-commerce volume reached $26.7 trillion in 2019, up 4% from 2018, a new report by the UN Trade and Development Agency (UNCTAD) revealed on Monday.

“The dramatic rise in e-commerce amid movement restrictions induced by COVID-19 increased online retail sales’ share of total retail sales from 16% to 19% in 2020,” the report said.

While the share of total e-commerce sales in global GDP was 30% in 2019, business-to-business sales reached $21.8 trillion, making 82% of all e-commerce.

Business-to-consumer sales were also up 11% over 2018, reaching $4.9 trillion in 2019. Shamika Sirimanne, UNCTAD director of technology and logistics, said: “The statistics show the growing importance of online activities, that they also point to the need for countries, especially developing ones, to have such information as they rebuild their economies in the wake of the COVID-19 pandemic.”

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