Southeast Asia’s E-Commerce Gross Merchandise Value Rises 15%

(DealStreetAsia) — The total gross merchandise value (GMV) of Southeast Asia’s eight leading e-commerce platforms rose 15% to $114.6 billion in 2023, according to the report E-commerce in Southeast Asia 2024 by Momentum Works.

In 2022, Southeast Asia’s e-commerce GMV had hit $99.5 billion, half of which was attributable to Shopee. In 2023, Shopee achieved a GMV of $55.1 billion and kept its market share steady at 48%. Lazada and Tokopedia recorded GMVs of $18.8 billion and $16.3 billion, respectively.