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Vietnam ranks third in Southeast Asia’s e-commerce market

Vietnam’s e-commerce sector reached a value of more than 25 billion USD in 2024, marking a 20% year-on-year growth and accounting for about 10% of total retail and consumer services nationwide. This achievement places Vietnam as the third-largest e-commerce market in Southeast Asia, following Indonesia (65 billion USD) and Thailand (26 billion USD), according to the Ministry of Industry and Trade. Projections suggest the market could expand to nearly 63 billion USD by 2030.

Data from YouNet ECI highlights that FMCG products recorded the fastest growth at 62%, followed by home appliances and technology (41%) and fashion and accessories (39%).

At the “Panorama of E-commerce and Cross-border E-commerce – Pathways for Vietnamese Exporters” forum on September 5, Deputy Minister Phan Thi Thang emphasized that many Vietnamese brands and local products are increasingly entering global markets through international platforms. Businesses are building their online presence not only in the US, China, EU, Japan, and South Korea but also in emerging markets such as ASEAN, the Middle East, Russia, and Australia.

Globally, cross-border e-commerce reached 791.5 billion USD in 2024 and is forecast to maintain over 30% growth in the coming years. For Vietnam, cross-border e-commerce is evolving into a national export strategy, integrated into the Government’s GoGlobal plan.

Under the National E-commerce Development Master Plan 2026–2030, cross-border e-commerce is defined as a strategic pillar. The aim is to create a sustainable digital export ecosystem, strengthen the global competitiveness of Vietnamese enterprises, and expand the reach of Vietnamese products worldwide.

To achieve this, the Ministry of Industry and Trade and the Department of E-commerce and Digital Economy are implementing a wide range of measures: improving legal and policy frameworks, supporting enterprises with training and capacity-building, linking with major global platforms, and working closely with Vietnamese trade offices abroad to promote and boost exports through e-commerce.

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