Vietnam's e-commerce is expected to see breakthrough development in the coming years with growth to double to 10 billion USD by 2020 from 5 billion USD in 2016. Country Profile Country name: The Socialist Republic of Vietnam Capital: Hanoi Population: 94.93 million Major language: Vietnamese Major religion: Buddhism (80%) Currency: Dong (VND) GDP 2016: 202 billion USD (per capita: 2,050 USD) GDP growth rate: 6,7% (population growth rate (2016 est. The Vietnam e-Commerce and Digital Economy Agency under the Ministry of Industry and Trade on June 25 said that the country’s e-commerce growth rate exceeded 32 percent last year. The data and analytics company said that the annual growth rate of Vietnam’s e-commerce market is anticipated to reach 16.3%. Vietnam’s e-commerce market trends: Confident growth predicted for youthful nation . Among the biggest events were Alibaba’s US$1 billion investment in Lazada and JD.com’s US$44 million investment in … ):0,95%) Vietnam’s business to consumer e-commerce market is worth $6.2 billion, 15 and it has been expanding rapidly, growing by 36.6 percent in 2017 alone. Why the world is waking up to Vietnamese coffee In a blue-sky scenario, we estimate Vietnam's ecommerce sector to achieve 10x growth to reach US$50bn GMV during 2019-26. As a result, Vietnam is now emerging as an increasingly attractive destination for foreign businesses — especially e-commerce. According to the Vietnam E-Commerce Whitepaper 2020, revenue from B2C e-commerce in Vietnam in 2019 stood at over US$10 billion, accounting for 4.9 % of the total retail sales of consumer goods and services nationwide; in addition to 42% of the population participating in online shopping, a growth rate of 25%. The country’s 2018 GDP is about US$250 billion and is predicted to reach a trillion USD 16 However, it is still dwarfed by bricks-and-mortar retail in Vietnam, with e-commerce accounting for just five percent of total retail. The e-commerce market of Vietnam is forecast to hit USS$17.3 billion by 2023, a sharp increase of US$9.4 billion compared to 2019, according to GlobalData. According to the Vietnam E-Commerce Whitepaper 2020, revenue from B2C e-commerce in Vietnam in 2019 stood at over US$10 billion, accounting for 4.9 % of the total retail sales of consumer goods and services nationwide; in addition to 42% of the population participating in online shopping, a growth … The scale of retail e-commerce of consumer goods and services was at US$11.5 billion last year. Let's take a closer look. Tiki's expansion has tracked explosive growth in Vietnam's e-commerce market, which was worth $6.2 billion in 2019. Vietnam is poised for growth. 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