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Global eCommerce Market Now Valued At $22 trillion, Experts Estimate

  • Written By CJ
  • Posted July 19, 2016
  • 2 minutes Read Time

The United Nations Conference on Trade and Development (UNCTAD) has revealed in the last 24 hours that the global ecommerce market is now valued at a cool $22.1-trillion.

Globally, the ecommerce market has seen a sharp increase of 38% in the last three years, with B2B and B2C markets reaching $19.9 trillion and $2.2 trillion, respectively.

UNCTAD’s latest data shows that China is the world’s largest B2C e-commerce market and the third-largest B2B market, while the US, which has the largest B2B market, ranks second in terms of B2C sales.

The UK, Japan, Germany, France, Brazil, Russia, India, and the Republic of Korea ranked as the top ecommerce markets behind China.

UNCTAD has, as a result of the potential opportunities presented with this recent news, unveiled its new eTrade for All platform which has been designed to assist in closing the gulf between countries that are taking advantage of opportunities available in ecommerce and those that are not.

eTrade for All centres itself around seven key policy areas; these are: ecommerce assessments, payments, trade logistics, information and communications technology infrastructure, legal and regulatory frameworks, skills development and financing for ecommerce for developing countries and countries with economies in transition.

The platform has also been released in a move that will hopefully raise awareness in terms of challenges, opportunities, and also the potential solutions for businesses to harness, such as best practices that relate to leveraging ecommerce in developing countries.

For more news on ecommerce, mcommerce & social media trends as well as Magento ecommerce news, follow our blog!