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Southeast Asia Ecommerce Forecast 2023

Global Economic Uncertainties Put Pressure on Ecommerce Growth

About This Report
Retail ecommerce sales growth in Southeast Asia, which has been blazing ahead in recent years, is set for a slowdown as the global economy faces challenges and tech funding shrinks. This year, the Philippines and Malaysia will lead the region in growth.
Table of Contents

Southeast Asia has been one of the brightest spots for retail and ecommerce sales growth globally. But it will confront a deceleration in both this year due to mounting global economic uncertainties. While Indonesia will continue to tower above other countries in the region in ecommerce sales, the Philippines and Malaysia will set the pace for growth.

Key Question: How quickly will retail ecommerce sales grow in Southeast Asia over the next five years, and which countries will see the fastest growth?

KEY STAT: Retail ecommerce sales growth in Southeast Asia will slip from 21.6% in 2022 to 13.5% in 2023, with a gradual ease into single-digit territory in 2025.


Man-Chung Cheung


Sky Canaves
Senior Analyst, Retail & Ecommerce
Vivian Dong
Associate Forecasting Analyst
Jennifer Merritt
Vice President, Content
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