" ITREALMS: E-commerce grows to $2trn globally


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Monday, January 22, 2018

E-commerce grows to $2trn globally

United Nations Conference on Trade & Development (UNCTAD) has grew the electronic commerce market globally estimated at $2 trillion in 2015, reports ITRealms.

The UNCTAD's 2017 Information Economy Report, ITRealms reports placed the value of global e-commerce increased to an estimated $25 trillion in 2015, up from $16 trillion in 2013.

The report stresses that the world is on the cusp of a 'new' digital economy, which will have transformational impacts on the world economy, creating both opportunities and development challenges
UNCTAD also said that its eCommerce Week 2018 will place particular emphasis on the role of digital platforms, a key feature of the evolving digital economy.

Digital platforms - often accessed through mobile apps - bring together and aggregate demand and supply in ways that were not possible before (being faster, cheaper and more easily coordinated), including in geographical areas/service sectors traditionally neglected.

Digital platforms present new opportunities for international trade and efficient economic activities, including for small businesses. However, the extent to which people and enterprises engage and benefit from such platforms varies considerably. There are indeed concerns that they will disrupt economies, with potential negative consequences for employment and working conditions.

ITRealms reports that the fourth E-Commerce Week, with the theme "Development dimensions of digital platforms", will offer a venue for different stakeholders to discuss key challenges and opportunities arising from such platforms, and put forth concrete actions to harness maximum benefits for developing countries.

Nonye Dom/GEE

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