There is a $22 trillion electronic commerce (e-Commerce)
opportunities for over 138 developing countries including Nigeria, reports
ITRealms.
The United Nations Conference on Trade and Development (UNCTAD) made
this disclosure Monday at the launch of a new e-commerce initiative ahead of
UNCTAD 14, according to its Secretary-General, Mukhisa Kituyi.
“A huge divide is opening between countries that are
exploiting those opportunities and those that are not,” Kituyi said.
As said by UNCTAD, developing countries should grasp the
rapidly growing opportunity of electronic commerce – e-commerce – worth around
$22.1 trillion in 2015, up 38 per cent from 2013, or risk falling quickly
behind.
The new initiative, called “eTrade for All”, brings
international organizations, donors and businesses under one umbrella, easing
developing country access to cutting-edge technical assistance and giving
donors more options for funding.
By providing new opportunities and new markets, online
commerce, UNCTAD said, could help generate economic opportunities, including
jobs. But while more than 70 per cent of people are shopping online in Denmark,
Luxembourg and the United Kingdom, the story is different in most developing
countries. In Bangladesh, Ghana and Indonesia, for example, just 2 per cent or
less of the population buy online.
E-commerce, Kituyi said, includes both business-to-business
(B2B) and business-to-consumer (B2C), respectively valued at around $19.9
trillion and $2.2 trillion each, according to the new UNCTAD data. This trade
is mostly domestic, but is becoming more and more international.
The new UNCTAD data show that e-commerce is growing rapidly,
with emerging economies accounting for most of this growth. China is now the
world’s largest B2C e-commerce market, both in terms of sales and in number of
online shoppers. Brazil, India, the Republic of Korea and the Russian
Federation have also all moved into the top 10 e-commerce markets.
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