Global e-Commerce hits $25.6 trillion according to latest UNCTAD estimates

E-commerce sales hit $25.6 trillion globally in 2018, up 8% from 2017, according to the latest available estimates released by the UN’s trade and development body, UNCTAD.

According to the UNCTAD analysis, the estimated 2018 e-commerce sales value, which includes business-to-business (B2B) and business-to-consumer (B2C) sales, was equivalent to 30% of global gross domestic product (GDP) that year.

The 2017 value of global e-commerce was estimated at $23.8 trillion, based on a revised methodology. The value of global B2B e-commerce in 2018 was $21 trillion, representing 83% of all e-commerce, comprising both sales on online market platforms and electronic data interchange transactions.

B2C e-commerce was valued at $4.4 trillion, up by 16% from 2017. Cross-border B2C e-commerce sales amounted to $404 billion in 2018, representing an increase of 7% over 2017.

The United States continued to dominate the overall e-commerce market. It remained among the top three countries by B2C e-commerce sales, alongside China and the United Kingdom.

“The coronavirus crisis has accelerated the uptake of digital solutions, tools and services, but the overall impact on the value of e-commerce in 2020 is still hard to predict,” said Shamika Sirimanne, UNCTAD’s director of technology and logistics.UNCTAD estimates that 1.45 billion people, or one quarter of the world’s population aged 15 and older, made purchases online in 2018. This is 9% higher than in 2017.

Source: UNCTAD

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