E-commerce’s share in exports forecast to hit 3 pct this year

ISTANBUL

Türkiye’s e-commerce exports accounted for 0.91 percent of total goods exports in 2022, and this figure has risen to 2.6 percent so far in 2024, Trade Minister Ömer Bolat has said.

Bolat projected that e-commerce exports share in total will reach 3 percent by the end of the year.

As part of Türkiye’s development plan, the country aims to increase its share of e-commerce exports to 10 percent of total goods exports by 2028, Bolat said at an e-commerce summit in Istanbul.

Bolat emphasized the vast potential of e-commerce, noting its critical role in digital transformation and its rapid expansion since the pandemic, becoming an essential component of modern business practices.

The minister highlighted that 49.5 percent of Türkiye’s population ordered goods and services online last year, with the country's e-commerce trade volume surging from $3.9 billion in 2019 to $53.9 billion in 2023.

The number of e-commerce businesses grew by 717 percent during the same period, rising from around 68,000 to 559,400, according to Bolat.

He also said that in 2023, Türkiye’s total trade volume was approximately $1.7 trillion, with retail trade contributing $306.2 billion, making up 17 percent of the total.

Bolat noted that the Trade Ministry is working to establish a competitive and sustainable environment in the retail sector, with new regulations aimed at fostering balanced growth for businesses.

The minister said that further efforts are underway to monitor price gouging and stockpiling in sectors such as food, grocery stores, real estate, automotive and jewelry.