Singapore dominates other SEA markets in cross-border e-commerce trade
Its total export is at $625b (US$457b).
A study found that Singapore has a larger share than other selected economies in Southeast Asia in cross-border eCommerce trade.
In its report, Luwijistik, a SaaS platform on e-commerce logistics, said Singapore’s import value is $555b (US$406b) while exports generated $625b (US$457b). Singapore was followed by Vietnam. It used the database of the United Nations.
Luwijistik's study showed that the third-party logistics market in SEA is anticipated to have a compound annual growth rate (CAGR) of 5.5% until 2025, resulting in a market value of $76b (US$55.7b) by 2025.
“Based on these figures, the market will expand and achieve a substantial value of [$116b] US$85.2b by 2033,” read the study.
However, regarding this growth, Google, Temasek, and Bain & Company’s report maintains that Indonesia takes the lead regarding eCommerce Gross Merchandise Volume (GMV) in Southeast Asia.
$1 = US$0.73
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