Cambodia’s e-commerce market shows strong growth momentum
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A Cambodian rural worker uses the Internet (Picture: Oxfam) The market value of the e-commerce sector in Cambodia increased to more than $970 million last year, up roughly 19 per cent from $813 million in 2020, according to a bulletin by the country’s commerce ministry released recently.
Revenue came mainly from fashion, accounting for $263.3 million, followed by electronics ($254.4 million), as well as beauty, health, personal and household care ($230.5 million).
Fourth came food and beverages ($101.5 million), ahead of toys, hobby and do-it-yourself ($63 million), furniture ($46.3 million) and media ($11 million), the data showed. E-commerce revenue in Cambodia is projected to reach $1.78 billion by 2025, the bulletin said.
Technology development and growing Internet users
Ministry spokesman Penn Sovicheat said that the e-commerce sector has boomed in the country in recent years due to rapid development of technologies, fast growth of the number of Internet users and the Covid-19 pandemic which forced people to shop digitally from home until many got used to it.
“We see e-commerce as a potential sector to help boost our economic recovery in the post-pandemic era,” Xinhua cited Sovicheat as saying.
He added that Cambodia has put in place relevant legal frameworks for the e-commerce sector and also launched an e-commerce strategy in 2020.
High number of Internet subscriptions
The country currently has about 17.7 million Internet subscribers, exceeding the population number of around 17 million as many have more than one subscription via various electronic devices or multiple SIM cards, according to the Telecommunication Regulator of Cambodia.
A National Bank of Cambodia’s report showed that there was a total of 13.6 million mobile payment users out of a in 2021, up 42 per cent from 9.56 million in 2020. This translates into a penetration rate of 80 per cent.
The e-commerce sector in Cambodia is expected grow further in the coming years when rural people get better access to the Internet and digital technologies and country-wide transport infrastructure and logistics networks improve.
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[caption id="attachment_38595" align="alignleft" width="300"] A Cambodian rural worker uses the Internet (Picture: Oxfam)[/caption] The market value of the e-commerce sector in Cambodia increased to more than $970 million last year, up roughly 19 per cent from $813 million in 2020, according to a bulletin by the country’s commerce ministry released recently. Revenue came mainly from fashion, accounting for $263.3 million, followed by electronics ($254.4 million), as well as beauty, health, personal and household care ($230.5 million). Fourth came food and beverages ($101.5 million), ahead of toys, hobby and do-it-yourself ($63 million), furniture ($46.3 million) and media ($11 million), the data...
A Cambodian rural worker uses the Internet (Picture: Oxfam)
The market value of the e-commerce sector in Cambodia increased to more than $970 million last year, up roughly 19 per cent from $813 million in 2020, according to a bulletin by the country’s commerce ministry released recently.
Revenue came mainly from fashion, accounting for $263.3 million, followed by electronics ($254.4 million), as well as beauty, health, personal and household care ($230.5 million).
Fourth came food and beverages ($101.5 million), ahead of toys, hobby and do-it-yourself ($63 million), furniture ($46.3 million) and media ($11 million), the data showed. E-commerce revenue in Cambodia is projected to reach $1.78 billion by 2025, the bulletin said.
Technology development and growing Internet users
Ministry spokesman Penn Sovicheat said that the e-commerce sector has boomed in the country in recent years due to rapid development of technologies, fast growth of the number of Internet users and the Covid-19 pandemic which forced people to shop digitally from home until many got used to it.
“We see e-commerce as a potential sector to help boost our economic recovery in the post-pandemic era,” Xinhua cited Sovicheat as saying.
He added that Cambodia has put in place relevant legal frameworks for the e-commerce sector and also launched an e-commerce strategy in 2020.
High number of Internet subscriptions
The country currently has about 17.7 million Internet subscribers, exceeding the population number of around 17 million as many have more than one subscription via various electronic devices or multiple SIM cards, according to the Telecommunication Regulator of Cambodia.
A National Bank of Cambodia’s report showed that there was a total of 13.6 million mobile payment users out of a in 2021, up 42 per cent from 9.56 million in 2020. This translates into a penetration rate of 80 per cent.
The e-commerce sector in Cambodia is expected grow further in the coming years when rural people get better access to the Internet and digital technologies and country-wide transport infrastructure and logistics networks improve.
Support ASEAN news
Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.
Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.
Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.
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Originally posted on: https://investvine.com/cambodias-e-commerce-market-shows-strong-growth-momentum/