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 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.

A person shopping online.

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), Malaysia ($11.5 billion), the Philippines ($16 billion) and Singapore ($4.9 billion). 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 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, or around $10.4 billion, followed by TikTok Shop at 28% ($4.5 billion), Lazada at 6% ($1 billion) and Tiki at 1% ($200 million).

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 localized strategies to capture key market segments.

Momentum Works forecasts that Southeast Asia’s e-commerce sector could generate an additional $131 billion in transaction value by 2030 if businesses effectively adopt artificial intelligence across sales, operations, logistics and customer service.

Hanoi tops E-Commerce Business Index 2025

The Vietnam E-Commerce Association (VECOM) has unveiled the Vietnam E-Commerce Business Index 2025 (EBI 2025) report, with Hanoi securing the top spot.

Export markets expanded through e-commerce platforms

The rapid growth of e-commerce is a key factor enabling food and agricultural enterprises in Ho Chi Minh City and across Vietnam to expand their export markets and integrate more deeply into the global supply chain. To fully capitalise on this opportunity, businesses need support from relevant agencies while improving product quality to meet market demands.

Tax revenue from e-commerce surges

According to the department, 130 foreign suppliers, including Google and Facebook, have registered, declared, and paid taxes through the electronic tax portal for foreign providers, contributing a total of 2.91 trillion VND (114 million USD).

 

Revenue from five largest e-commerce platforms reaches over 12 billion USD in 2024

 A report by the e-commerce analytic platform Metric has shown that the total revenue of the five largest e-commerce platforms in Vietnam reached 318.9 trillion VND (12.6 billion USD) in 2024, 37.4% higher than 2023.

Vietnam takes measures to tighten cross-border e-commerce

Vietnam E-commerce and Digital Economy Agency under the Ministry of Industry and Trade (MoIT) has been taking measures to enhance the management of cross-border e-commerce platforms.