Indonesia's e-commerce transaction volume surged 63.4% in the first half of the year

Perry Warjiyo, Governor of Bank Indonesia (BI), revealed that Indonesia's online shopping transactions (e-commerce) reached 186.7 trillion rupiah in the first half of 2021, an increase of 63.4 percentage points compared with the same period last year.

“The surge in e-commerce transactions is inseparable from the development of small and medium-sized enterprises, and many of these transactions are carried out by retail traders who are also small and medium-sized enterprises,” Perry Vajiyo said on July 25 .

It is not difficult to see from the growth of e-commerce transaction volume in the first half of the year that e-commerce transactions this year are expected to grow by 48.4% to reach 395 trillion rupiah.

Perry Vajiyo believes that the rapid growth of e-commerce transactions reflects the importance of digitalization of small and medium-sized enterprises. During the epidemic, the digital economy and finance have developed strongly.

According to Perry, there are currently 8 million MSMEs connected to digital platforms, and this number is expected to increase to 12 million by the end of the year.

“Next year, the number of MSMEs that want to be connected to digital platforms could reach 20 million, and we will continue to increase this number so that more MSMEs can enter digital platforms and connect to e-commerce,” said Perry Wajiyo.

Perry also stressed that most e-commerce currently uses electronic money in payment transactions. As a result, the volume of electronic money transactions in the first half of this year soared 41% to 132 trillion rupiah. By the end of this year, the volume of electronic money transactions is expected to reach 278 trillion rupiah.

In recent years, the scale of Indonesia's e-commerce market has expanded rapidly, and the industry has developed more rapidly, which is closely related to the development of small and medium-sized enterprises. After the outbreak of the epidemic, more and more small and medium-sized enterprises have closed their offline stores and turned to online development, thus providing consumers with more choices.

At the same time, the continuous entry of small and medium-sized enterprises has also intensified competition in the local market, and most companies and sellers are accelerating their transformation. I believe that the Indonesian market will burst with greater energy in the future, attracting more cross-border e-commerce sellers to enter the market, and at the same time, it will also attract more local consumers.

Indonesia