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Friday, July 12, 2024

Vietnam’s online exports grow strongly

The Saigon Times

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HCMC – Online exports have grown sharply this year, with the number of Vietnamese firms listing their products on Amazon skyrocketing by 80% over the same period last year.

Online export is a form of cross-border trade using an e-commerce platform.

From 2020 to 2027, international e-commerce trade will grow over 28% per year, the news site vtv.vn reported, citing data from Zion Market Research.

From September last year to September 2022, Vietnamese firms sold 10 million products via the giant online retailer Amazon, with kitchenware, houseware, garments, health and personal care and home utility products being the best sellers. 

Amazon allowed Vietnamese online exporters to gain access to 21 markets worldwide, including Belgium, Sweden and the Middle East, with the U.S. being the biggest buyer, said Gijae Song, chief executive officer of Amazon Global Selling Vietnam.

Earlier, the e-Conomy SEA 2022 report by Google, Temasek and Bain & Company said the scale of Vietnam’s e-commerce this year reached US$14 billion, on par with Malaysia and the Philippines, after Indonesia and Thailand. However, the market will grow to US$32 billion by 2025, becoming the second-largest e-commerce market in South East Asia.

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