Thailand's e-commerce is expected to post US$23 billion in gross merchandise value (GMV) this year, up 18% year-on-year, but the growth is much smaller than the previous year, weighed down by economic headwinds, according to a new survey by Facebook parent firm Meta and consultancy Bain & Company.
The country's e-commerce is predicted to grow to $46 billion in 2027, with a compound annual growth rate (CAGR) of 14% from 2022 to 2027, based on the annual SYNC Southeast Asia report, which examines the digital economy and the future of e-commerce in the region.
"Inflation and supply chain pressures and the easing of offline restrictions are causing a slowdown in Thailand's e-commerce in terms of GMV in 2022," Derek Keswakaroon, partner at Bain & Company, said in an online conference.
