Türkiye's e-commerce volume more than doubled in 2023

The volume of e-commerce in Türkiye has surged 115.5 percent from the prior year to 1.85 trillion Turkish liras ($79.4 billion) in 2023, according to a report from the Trade Ministry.

The number of transactions rose 22.3 percent at an annualised pace to 5.87 billion units last year, said the report, titled Outlook of E-Commerce in Türkiye, on Monday.

Revenue in Türkiye's e-commerce market is expected to hit $109.4 billion this year and the number of transactions is projected to reach 6.67 billion units.

The ratio of e-commerce volume to general trade volume posted a significant hike in recent years, from 10.1 percent in 2019 to 20.3 percent in 2023.

The e-commerce volume to gross domestic product (GDP) ratio also surged 33.3 percent year-on-year to 6.8 percent in 2023.

More than half of e-commerce volume last year or 51 percent consisted of goods trade and 49 percent consisted of service trade, the report said.

White goods and small home appliances took the largest share from the e-commerce volume with $10 billion, the electronics sector with $5.8 billion and the clothing, shoes and accessories sectors with 127 billion liras $5.41 billion.