Bank Indonesia (BI) estimates e-commerce transactions to grow 31.4 percent annually to Rp 530 trillion (US$37 billion) next year.
ank Indonesia (BI) projects e-commerce, electronic money and digital banking transaction values to continue to expand next year, with online marketplaces experiencing the highest growth.
BI Governor Perry Warjiyo said e-commerce transactions would reach Rp 530 trillion (US$37 billion) in 2022, a 31.4 percent increase from Rp 403 trillion expected this year.
He went on to say that electronic money would also grow to reach Rp 337 trillion next year, up from Rp 289 trillion this year. Meanwhile, digital banking transactions were expected to increase to Rp 48 quadrillion from Rp 40 quadrillion in 2021.
“The digital economy is growing rapidly,” he said during the annual BI meeting on Nov. 24.
Indonesia will continue to become the biggest digital economy in Southeast Asia on the back of strong e-commerce growth, according to the e-Conomy SEA 2021 report released by Google, Temasek Holdings and Bain & Co.
The report estimates that Indonesia’s internet economy would grow to $70 billion this year, in which e-commerce accounted for $53 billion.
Read also: Indonesia’s internet economy to reach $70 billion in 2021
Share your experiences, suggestions, and any issues you've encountered on The Jakarta Post. We're here to listen.
Thank you for sharing your thoughts. We appreciate your feedback.
Quickly share this news with your network—keep everyone informed with just a single click!
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Get the best experience—faster access, exclusive features, and a seamless way to stay updated.