Singapore e-commerce generated $2b of Singapore's GDP in 2022: report

The country ranked amongst the top 20 most entrepreneurial countries.

Singapore's e-commerce entrepreneurs contributed nearly $2b to the country's gross domestic product (GDP), and $1.18b in exports in 2022, according to data from Shopify's Entrepreneurship Index.

This is the highest value amongst other Southeast Asian markets, Shopify said,

Entrepreneurs drove $4.8b in business activity and supported 64,149 local jobs, a 14.1% increase from 2021.

As a result of its high business activity impact and job creation, Singapore ranked amongst the top 20 of the world's most entrepreneurial countries.

Bharati Balakrishnan, Country Head and Director, Shopify Southeast Asia and India, said that with its high internet penetration and a highly aware population of digital consumers, Singapore reached a new growth era of ecommerce despite global economic uncertainty.

"Backed by progressive government initiatives to develop ecommerce capabilities, such as expanding the 5G networks by 2025, Singaporean entrepreneurs in Shopify's ecosystem contributed positively to their communities and the economy. These factors place the city-state in a strong position to achieve its targets of becoming a regional and global ecommerce hub," Balakrishnan said.

Also Read

Changi Airports and Hainan Meilan form JV for non-aero services

F&B brands remain key drivers of retail leasing in Q3

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit