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 effectively adopt artificial intelligence 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.
An official of the Foreign Trade Agency laid stress on the foundational role of rules of origin in international trade, highlighting the importance of capacity building for enforcement officers in the context of deep international integration.
Against the backdrop of the growing comprehensive strategic partnership between Vietnam and Russia, the promotion and export of Vietnam’s agricultural products not only diversify supply sources for the Russian market but also help enhance the brand values and competitiveness of Vietnamese enterprises in the market that remains untapped.
International trade is no longer merely an exchange of goods but a strategic lever enabling Vietnamese enterprises to enhance capacity, secure partnerships, and expand globally.
In the first eight months of 2025, Vietnam’s total trade value reached nearly 600 billion USD, up 16.3% year on year. Of this, exports stood at 306 billion USD, a 14.8% increase, already surpassing the full-year target.
Vietnam aims to maintain macroeconomic stability, control inflation below the target, achieve growth of 8.3-8.5%, ensure major economic balances, surpass budget revenue estimates by 25%, and control public debt, government debt, foreign debt, and budget deficit.
Reaffirming Vietnam’s commitment to foreign investors, Finance Minister Nguyen Van Thang said government policies always aim to ensure transparency, fairness and a mutually beneficial environment that promotes innovation and safeguards investor rights, making Vietnam a sustainable and long-term investment destination.
The State Bank of Vietnam must launch an official gold price information portal, study the establishment of gold exchanges, and issue guiding documents to implement the Government’s decree on the management of gold trading activities.
According to the World Bank Group, Vietnam will need approximately 368 billion USD in investment for climate adaptation and carbon reduction projects by 2040. Yet, as of the end of 2024, green credit accounted for just 4.5% of the country’s total outstanding loans.
Amidst robust digital transformation across all sectors, the food processing industry has tapped such digital technologies as Internet of Things, AI, blockchain and Big Data to optimise production process, control supply chain, and meet consumers’ demands.
The French side pledged to share technical guidelines and safety standards, with the Institute for Radiological Protection and Nuclear Safety (IRSN) ready to provide training for Vietnamese specialists.
Vietnam now has more than 940,000 private enterprises and over 5 million household businesses, contributing approximately 50% of GDP, over 30% of state budget revenue, and employing 82% of the national workforce.
Businesses underlined the need for expanding green credit and non-collateral concessional loans for circular agriculture projects, facilitating their participation in national key projects, and fostering alliances among Vietnamese enterprises as well as cooperation with regional partners.
State-owned Vietcombank currently leads the banking system with total assets exceeding 85 billion USD and a market capitalisation of over 20 billion USD, while maintaining strong financial safety indicators. Its non-performing loan ratio remains the lowest in the sector at 0.97%.
Malaysia is Vietnam’s third-largest trading partner in ASEAN and ninth globally, as well as a key investor with 731 valid projects worth about 13 billion USD. Bilateral trade reached 9.23 billion USD by July 2025, up 8% year-on-year, nearing the 18 billion USD target.
Finance Minister Nguyen Van Thang noted that free trade agreements such as the UK–Vietnam Free Trade Agreement (UKVFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have expanded opportunities for businesses in both countries.
Lotte Shopping currently operates three department stores and 16 supermarkets in Vietnam, alongside one department store and 48 supermarkets in Indonesia. The company highlighted the success of its flagship Lotte Mall West Lake Hanoi, which opened in 2023, describing it as a model for future premium complexes. Kim said the group intends to replicate this concept in other major Vietnamese cities.
In the EU, illegal, unreported and unregulated (IUU) fishing remains a major obstacle to Vietnam's efforts to have the European Commission (EC)'s “yellow card" lifted. The bloc’s dense and constantly changing regulatory framework also affects farming zones, production processes and quality standards.
