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E-commerce: Driving Asia’s next leg of growth

Although Asia already accounts for 57.4% of the global e-commerce market in 2019, its share will only get bigger, says Eastspring Investments. Robust logistics networks, a rising middle class, improving financial infrastructure and rapid innovation will fuel Asia’s e-commerce revenues, which will in turn drive GDP growth, productivity and economic inclusion in the region.

According to IMF Senior Economist, Tidiane Kinda, Asian countries with higher e-commerce penetration (as measured by % of e-commerce sales to GDP) are more likely to experience higher GDP growth.

While China is a market leader in terms of size, the e-commerce markets in India and Indonesia the world’s second and fourth most populous countries, respectively – are expected to enjoy double-digit growth rates in the coming years.

Read more at eastspring.com/lu.