International Financial Law Prof Blog

Editor: William Byrnes
Texas A&M University
School of Law

Thursday, May 6, 2021

Global e-commerce jumps to $26.7 trillion, 30% of global gross domestic product, COVID-19 boosts online sales

The dramatic rise in e-commerce amid movement restrictions induced by COVID-19 increased online retail sales’ share of total retail sales from 16% to 19% in 2020, according to estimates in an UNCTAD report published on 3 May.

UNCTAD released the report as it hosted a two-day meeting on measuring e-commerce and the digital economy.

According to the report, online retail sales grew markedly in several countries, with the Republic of Korea reporting the highest share at 25.9% in 2020, up from 20.8% the year before (Table 1).

Meanwhile, global e-commerce sales jumped to $26.7 trillion in 2019, up 4% from 2018, according to the latest available estimates.

This includes business-to-business (B2B) and business-to-consumer (B2C) sales, and is equivalent to 30% of global gross domestic product (GDP) that year.

https://lawprofessors.typepad.com/intfinlaw/2021/05/global-e-commerce-jumps-to-267-trillion-30-of-global-gross-domestic-product-covid-19-boosts-online-s.html

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