E-commerce exceeding $25 bln in 2024

Vietnam’s retail e-commerce market exceeded $25 billion in 2024, marking a significant increase of 20% compared to the previous year, according to the Ministry of Industry and Trade.

E-commerce accounts for two thirds of the country’s digital economy value and 9% of the total retail sales of consumer goods and services.

Vietnam is now among the top ten fastest-growing e-commerce markets globally with an annual growth rate estimated at 18-25%. It is a factor driving economic growth and promoting digital transformation in enterprises.

Nearly 725,000 organizations and individuals in the country have conducted business on e-commerce platforms, with a total transaction value exceeding $2.94 billion, according to the tax authority.