Country’s e-commerce spending to GDP ratio reached 4.1% in 2020, up 51.8% year-on-year, says Turkish trade minister
The volume of e-commerce in Turkey jumped 66% year-on-year to 226.2 billion Turkish liras ($32 billion) in 2020, the country’s trade minister announced Tuesday.
“The E-commerce spending to gross domestic product (GDP) ratio reached 4.1% in 2020, a rise of 51.8% from a year ago,” Ruhsar Pekcan told a news conference held in the capital Ankara.
Citing data from international institutions, Pekcan said the global e-commerce volume hit $4.3 trillion, up by an expected 18% in the same period.
The figure is projected to reach $6.5 trillion over the next three years, with the increase to accelerate further, she noted.
The number of companies running e-commerce operations in Turkey also surged 275% to 256,861 last year, an indicator of dynamic development of the sector in the country, she stressed.
The number of orders also saw a rise of 68% in 2020, reaching 2.3 billion, she said.
“Turkey’s e-commerce volume to general trade ratio rose from 9.8% in 2019 to 15.7% on average in 2020,” Pekcan noted.
The sectors seeing the sharpest rises in e-commerce were food and supermarket, up more than 200%, the metallurgy and chemical sector with 189%, white goods (home appliances) with 129%, the home, garden, furniture and decoration sector with 105%, and the florist sector, with 100%.
On the other hand, it added: “Airlines (-40%), travel/transport (-46%), accommodation (-37%) and entertainment and arts (-46%) showed the largest decrease in the same period.”
Payments by credit/debit cards constituted 61% of total e-commerce volume in the country, Pekcan added.