THE kingdom’s market value of e-commerce had increased to US$970mil (RM4.3bil) last year, up 19% from US$813mil (RM3.6bil) in 2020, according to the Ministry of Commerce’s iTrade Bulletin.
The e-commerce revenue was mainly from fashion, accounting for US$263.3mil (RM1.16bil), followed by electronics (US$254.4mil/RM1.12bil); beauty, health, personal and household care (US$230.5mil/RM1bil); toys, hobby and do-it-yourself (US$63mil/RM278mil); food and beverage (US$101.5mil/RM450mil); furniture (US$46.3mil/RM204mil) and media (US$11mil/RM48mil).
Some 55% of e-commerce purchase orders were placed via the Internet on a desktop PC and the rest on tablets or smartphones, the Bulletin said.
“By 2025, the e-commerce revenue in Cambodia is projected to reach US$1.78bil (RM8bil),” it said.
Cambodian Ministry of Commerce’s under-secretary of state and spokesman Penn Sovicheat said yesterday that the e-commerce sector has boomed in the country in recent years thanks to the rapid development of technologies, the fast growth of Internet users, and the Covid-19 pandemic.
“We see e-commerce as a potential sector to help boost our economic recovery,” he said.
“During the pandemic, e-commerce had grown rapidly. That growth will continue.”
Sovicheat said to support the sustainable development of e-commerce, Cambodia had adopted the landmark E-commerce Law and the Consumer Protection Law in 2019, and the Law on Competition in 2021, as well as launched an e-commerce strategy in 2020.
The South-East Asian country currently has about 17.7 million Internet subscribers, with most having online access via smartphones, according to the Telecommunication Regulator of Cambodia.
Hong Vannak, an economic researcher at the Royal Academy of Cambodia, said e-commerce is convenient, fast and safe for consumers. — Xinhua