SOUTHEAST ASIA’S TOTAL E-COMMERCE VALUE TOUCHED $145.2 BILLION IN 2024

Southeast Asia’s total e-commerce gross merchandise volume (GMV) reached $145.2 billion in 2024, including platform and non-platform transactions, according to a report released by Momentum Works on June 26.

The report revealed that platform-based e-commerce in the region reached $128.4 billion in GMV in 2024, representing 12 per cent on-year growth. The growth, while slower than in previous years, reflects a deliberate shift by leading platforms towards more rational, sustainable strategies.

Indonesia remains the largest e-commerce market in Southeast Asia, contributing 44 per cent of the region’s total platform GMV in 2024, down from 52 per cent in 2022. Consolidation in the market led to moderation of growth.

The key drivers for the region’s e-commerce GMV expansion in 2024 were Thailand and Malaysia, growing 21.7 per cent and 19.5 per cent on-year, respectively.

The other three key markets, Vietnam, the Philippines, and Singapore, all registered double-digit growth, reflecting broad-based momentum across the region’s e-commerce landscape. Among them, platform e-commerce in Vietnam reached $16 billion GMV, increasing 15.9 per cent from the previous year.

Shopee expanded its lead with 52 per cent market share, driven by infrastructure upgrades and better monetisation. TikTok Shop showed disciplined expansion and completed its Tokopedia integration. Lazada focused on high-quality assortment and AI adoption, achieving earnings before interest, taxes, depreciation, and amortisation profitability.

For the first time, Momentum Works tracked non-platform e-commerce via brand.com, WhatsApp, and others, contributing $16.8 billion in GMV. Combined with platforms, Southeast Asia’s total e-commerce GMV reached $145.2 billion, representing 12.8 per cent market penetration.

Southeast Asia shipped 43.6 million e-commerce parcels daily in 2024, nearing the US volume and underscoring the region’s advanced logistics infrastructure. Shopee, Lazada, and TikTok Shop accounted for over 90 per cent of platform parcel volumes.

Live commerce generated $17.6 billion, or 14 per cent of total platform GMV. Combined with video commerce, these formats now account for 20 per cent of platform GMV, marking a significant behavioural shift.

Brands contributed less than 30 per cent of Southeast Asia’s platform e-commerce GMV, compared to over 50 per cent in China, highlighting untapped potential in brand-driven growth. Among them, Chinese consumer brands, learning from past failures, are re-entering Southeast Asia with improved products and refined local strategies, gaining traction across key categories.

Momentum Works estimates that strong AI adoption by sellers and brands could add up to $131 billion in GMV by 2030, improving everything from product discovery and logistics to customer experience and pricing efficiency.

Source: VIR

Related News

VIETNAM ECONOMY INVESTMENT

VIETNAM’S AGRO-FORESTRY-FISHERY EXPORTS JUMP NEARLY 30% IN JANUARY

Vietnam’s exports of agricultural, forestry and fishery products surged nearly 30% year-on-year in January 2026, driven by strong growth across major commodity groups and key export markets, according to the Ministry of Agriculture and Environment. Export turnover for the sector in January is estimated at nearly US$6.51 billion, up 29.5% from the same period last year, the ministry said at a regular press briefing on February 5.

Feb 09, 2026

VIETNAM MONTHLY STATISTICAL DATA

INFOGRAPHIC SOCIAL-ECONOMIC PERFORMANCE IN JANUARY OF 2026

The monthly statistical data presents current economic and social statistics on a variety of subjects illustrating crucial economic trends and developments, including production of agriculture, forestry and fishery, business registration situation, investment, government revenues and expenditures, trade, prices, transport and tourism and so on.

Feb 09, 2026

MEMBER CORNER / PROMOTIONS

PHUC VUONG DISTRIBUTES "TET REUNION" GIFTS: SENDING LOVE TO THE CONSTRUCTION SITES

On the afternoon of February 6th, amid the busy year-end atmosphere, Phuc Vuong Company organized the "Tet Reunion – Spring Connection" gift-giving event right at the construction site. This annual activity aims to honor the "dream builders" who have dedicated themselves to the company's growth. The General Director was present to personally express his sincere gratitude and hand over meaningful Tet gifts to the workers.

Feb 09, 2026

HOSPITALITY / TOURISM / ENTERTAINMENT

INTERNATIONAL ARRIVALS TO VIETNAM REACH NEW MONTHLY HIGH

International arrivals to Vietnam hit a new monthly record in January 2026, rising 21.4% from the previous month and 18.5% year-on-year, according to the National Statistics Office. Air travel continued to dominate, accounting for nearly 80% of all arrivals. Arrivals by land nearly doubled compared with the same period last year, while sea arrivals rose by about 30%, though they remained a small share.

Feb 09, 2026

PROPERTY / INDUSTRIAL ZONE

HCMC APPROVES 28 MORE LAND PLOTS FOR HOUSING DEVELOPMENTS

HCMC has approved 28 out of 30 proposed land plots for pilot housing developments, covering a combined area of more than 750,600 square meters, according to a newly adopted resolution. The approved sites are spread across multiple wards and communes, with a strong concentration in the city’s southern and eastern areas.

Feb 09, 2026

VIETNAM ECONOMY INVESTMENT

VIETNAM SEES STEADY FDI DISBURSEMENT BUT SLOWER EXPANSION IN JANUARY

Foreign direct investment (FDI) disbursement in Vietnam rose in January, while newly registered capital fell sharply, pointing to stable project implementation but slower investment expansion. Data from the Ministry of Finance showed that January FDI disbursement increased 11.26% year-on-year to US$1.68 billion, reflecting continued execution and expansion of existing foreign-invested projects.

Feb 09, 2026