Vietnam consumers spend 16 billion USD in 2024 on online shopping
Shopee holds the largest market share, commanding 65% of GMV (around 10.4 billion USD), followed by TikTok Shop at 28% (4.5 billion USD), Lazada at 6% (1 billion USD) and Tiki at 1% (nearly 200 million USD).
Hanoi (VNS/VNA) - Vietnamese consumers spent an estimated 16 billion USD on online purchases via platforms such as Shopee, Lazada and TikTok Shop in 2024, placing the country among the top three e-commerce markets in Southeast Asia.
The newly released Southeast Asia E-commerce 3.0 report by Momentum Works shows that the region's total gross merchandise value (GMV) across e-commerce platforms reached 128.4 billion USD in 2024, up 12% year-on-year. On average, the region processed 43.6 million online orders per day, approaching the scale of the US market.
Shopee, Lazada and TikTok Shop accounted for more than 90% of total order volume, with Vietnam being one of the top five markets in the region alongside Thailand (23.5 billion USD), Malaysia (11.5 billion USD), the Philippines (16 billion USD) and Singapore (4.9 billion USD). Thailand and Malaysia led in growth, posting 22% and 20% increases respectively.
Indonesia remains the region’s largest e-commerce market, with 56.5 billion USD in GMV and a 44% market share. However, its growth slowed to just 5% due to ongoing platform mergers.
In Vietnam, the e-commerce landscape is dominated by three major platforms. Shopee holds the largest market share, commanding 65% of GMV (around 10.4 billion USD), followed by TikTok Shop at 28% (4.5 billion USD), Lazada at 6% (1 billion USD) and Tiki at 1% (nearly 200 million USD).
Beyond major platforms, other digital commerce channels such as brand websites, multi-brand retailers, social media and messaging apps like WhatsApp contributed an additional 16.8 billion USD to the region’s total e-commerce value.
The report also noted a resurgence of Chinese consumer brands in Southeast Asia. These brands are returning with upgraded products and more localised strategies to capture key market segments.
Momentum Works forecasts that Southeast Asia’s e-commerce sector could generate an additional 131 billion USD in transaction value by 2030 if businesses ef💙fectively adopt artificial intelli💙gence across sales, operations, logistics and customer service./.
Video shopping is emerging as a new trend, compelling sellers to adopt multi-channel strategies while enhancing key services such as express delivery, after-sales support and exclusive promotions.
With the message "Proud of Vietnamese products," the National E-commerce Week and Vietnam Online Shopping Day (Online Friday 2024) are scheduled to take place from November 25 to December 1, 2024.
Vietnamese consumers spent 143.9 trillion (5.68 billion USD) buying 1.53 million items on five e-commerce platforms in the first half of this year, representing a rise of 54.91% and 65.55% over the same period last year, respectively, according market analysis firm Metric.
The BCI for the second quarter of 2025 recorded a slight dip to 61.1, reflecting heightened global uncertainty. However, the overall sentiment remains one of cautious optimism, with Vietnam still viewed as a resilient and promising investment destination.
The National Data Development Fund has been established, operating as a non-budget state financial fund with an initial capital of 1 trillion VND (38.4 billion USD).
Games developed by Vietnamese teams recorded 9.6 billion downloads in 2024. In the first six months of 2025, this number already hit 5.2 billion downloads. Downloads for all of 2025 are expected to surpass 10.3 billion, a year-on-year growth of over 7.7%.
Vietravel Airlines has approved a plan to increase its charter capital to 2.6 trillion VND (99.6 million USD) in an effort to bolster financial capacity to expand its fleet and operations.
Prime Minister Pham Minh Chinh appreciated JBIC's support in policy dialogue, as well as its provision of numerous loans to promote Japanese investment in Vietnam through key infrastructure and energy projects.
Comprising members who work and conduct research at investment banks, asset management funds, fintech companies, and strategic financial consulting firms, Vietnam Finance and Investment Association in the United Kingdom is well-positioned to stay abreast of global trends, international standards, and effective operational models of the modern financial industry.
In recent years, fruit farmers have applied science and technology to cultivation in an effort to improve productivity, fruit quality, and income value.
Featuring over 150 Vietnamese products from fresh and processed fruits to beverages, sauces, noodles, and coffee the space aims to introduce Russian consumers to Vietnam’s diverse cuisine and cultural offerings.
Under Resolution No. 204/2025/QH15 of the National Assembly, the 2% reduction in VAT is scheduled to take effect from July 1 and remain valid until December 31, 2026.
Vietnam’s NetZero Pallet, which specialises in manufacturing and exporting storage and transport pallets from recycled agricultural waste, was one of two top winners of the 2025 Small Business Champions Competition, held by the World Trade Organisation (WTO).
Shopee holds the largest market share, commanding 65% of GMV (around 10.4 billion USD), followed by TikTok Shop at 28% (4.5 billion USD), Lazada at 6% (1 billion USD) and Tiki at 1% (nearly 200 million USD).
This year’s programme also encourages cashless transactions through QR codes and e-wallets, as in line with the national digital transformation strategy and smart city goals.
Although non-tariff and technical trade barriers aim to protect health, the environment and consumers, if they lack transparency or are not consistent, they can become invisible barriers that increase costs, prolong customs clearance times and create risks for businesses.
The project’s capital structure includes 5% public funding, 40% from domestic private investors, and the remaining 55% from foreign direct investment (FDI).
Deputy Minister of Education and Training Nguyen Van Phuc described the establishment of an international financial centre as a strategic move to attract global capital and elevate Vietnam’s economic position. He stressed the need for a skilled workforce trained to international standards to successfully manage the risks and opportunities of deeper financial integration.
Under the agreement, BCA will offer flexible credit packages to VinFast’s network of dealers in Indonesia. The financial support will help dealers purchase VinFast electric vehicles and genuine parts, with tailored credit limits for regular purchases, peak season needs, and bulk transactions.
According to Vietcombank Securities (VCBS), in April and May, container volume rose 13% year-on-year, with Cai Mep-Thi Vai ports up 22%, Lach Huyen up 32% and Ho Chi Minh City ports up 8%.
Given their large populations and rising incomes, South Asian countries are importing a diverse range of goods including consumer products, processed food, healthcare and beauty items, electronic components, and construction materials. Notably, there is a growing trend among them to diversify sourcing away from China, making Southeast Asia, and Vietnam in particular, a more attractive partner.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,300 VND/USD and the floor rate 23,796 VND/USD.
