E-commerce contributes 6.68 pct to Cambodia’s GDP in 2024

E-commerce contributes 6.68 pct to Cambodia’s GDP in 2024

E-commerce market contributed $1.51 billion, or 6.68 percent, to Cambodia’s gross domestic product (GDP) in 2024, said a Ministry of Commerce’s iTrade Bulletin on Tuesday.

The bulletin projected that the e-commerce revenue in the kingdom would rise to 1.78 billion dollars in 2025.

“Facebook, TikTok, and Telegram dominate online sales,” the bulletin said.

It added that the Southeast Asian country has a total population of 17 million, 11.65 million Facebook users, and 9.96 million TikTok subscribers.

The e-commerce sector has boomed in recent years thanks to the rapid growth of Internet subscribers and mobile payment users.

The bulletin said the country had approximately 21.9 million internet subscribers, most of whom had access to online platforms via smartphones.

Also, the kingdom had registered about 30 million e-wallet accounts as of 2024.

Cambodian Ministry of Commerce’s Secretary of State and Spokesperson Penn Sovicheat said the e-commerce market was convenient, fast, reliable, and safe for consumers.

“We consider e-commerce a potential sector to help boost Cambodia’s economic growth in the long run,” he told Xinhua.

Jack Lee, secretary of the Digital Economy Professional Association of the Chinese Chamber of Commerce in Cambodia, said e-commerce became popular in Cambodia thanks to the rapid increase in internet users and digital payments.

“Many Cambodian businesses rely on Facebook, TikTok, and Telegram to sell products, making social commerce a dominant trend,” he told Xinhua recently.

Lee, who is also the chief executive officer of online marketplace Smile Shop in Cambodia, said Cambodia’s 4G internet coverage is over 80 percent of the country’s land area, providing a solid foundation for e-commerce growth. 

khmertimeskh