UN: "E-commerce Greatly Increased Due to COVID-19... South Korea's Share is 25.9%"
[Asia Economy Reporter Geum Bo-ryeong] Last year, e-commerce significantly increased due to the COVID-19 pandemic.
The United Nations Conference on Trade and Development (UNCTAD) announced in a report released on the 3rd (local time) that the share of e-commerce in total retail sales in seven countries including South Korea, Australia, the United Kingdom, Canada, and China rose from 16% in 2019 to 19% last year.
During the same period, South Korea saw an increase from 20.8% to 25.9%, marking the highest proportion of e-commerce among the surveyed countries.
The United States increased from 11.0% to 14.0%, China from 20.7% to 24.9%, and the United Kingdom from 15.8% to 23.3%.
Australia rose from 6.3% to 9.4%, Canada from 3.6% to 6.2%, and Singapore from 5.9% to 11.7%.
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Additionally, UNCTAD explained that global e-commerce sales, including B2B (business-to-business) and B2C (business-to-consumer) transactions, reached $26.7 trillion in 2019, a 4% increase compared to 2018. This accounts for approximately 30% of the global GDP in 2019.
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