Vietnam Experiencing Huge Online Export Growth to $3.4 Billion Exchange Rate
Amazon Global Selling's 2022 report indicated that Vietnam’s cross-border retail revenue had grown to 80 trillion VND (3.4 billion USD) and is projected to reach 250 trillion VND within the next five years. Gijae Seong, the Head of Global Selling Vietnam for Amazon, pointed out that Vietnam has many advantages in regard to promoting exports through online platforms.
Last year, nearly 10 million Vietnamese items were featured on the e-commerce platform—a 35% increase from 2021.
Additionally, Access Partnership suggested that Vietnam’s export revenue through e-commerce could even reach close to 300 trillion VND by 2027 if domestic firms receive adequate help to advertise their services digitally.
At a recent workshop, Lai Viet Anh from the Ministry of Industry and Trade shared her thoughts on the potential of the industry. She highlighted that with an annual growth rate of over 20%, it was possible for Vietnam to become one of the countries with the fastest e-commerce growth in the world. Plus, in accordance with the Government's digital economic policy, multiple programs are being implemented which support small businesses in developing their international selling abilities and taking full advantage of global e-commerce features.
The Vietnam E-Business Index (EBI) 2023, conducted by Vecom, predicted that Vietnam’s e-commerce market is set to grow 25% this year. This progress will be driven by numerous factors, such as digital transformation, consumer trust, technical infrastructure, as well as incentives provided by the Vietnamese government.
VND/USD Exchange Rate at 23,700 on June 14, up 1 VND from the previous day.
