17 million Vietnamese products sold on Amazon in 2023

The value of goods exported through the U.S. e-commerce platform jumped 50% during the period, Trinh Khac Toan, northern regional director of Amazon Global Selling Vietnam, which supports sellers, said at a forum on Thursday.

He noted that the number of Vietnamese sellers with annual sales of $1 million increased tenfold between 2019 and 2023, while the number of those who legalized their brands through the Amazon Brand Registry program increased 35-fold.

The numbers show the astonishing potential of cross-border e-commerce, he said.

Amazon Global Selling forecasts that cross-border e-commerce in Vietnam and Southeast Asia will grow 20% annually through 2026.

Bui Trung Kien, vice president of the Vietnam E-Commerce Association, said the development of cross-border e-commerce is crucial to boosting Vietnam’s exports.

He warned, however, that the country’s legal regulations regarding business activity could be an obstacle to this.

Cao Cam Linh, representative of the Vietnam Logistics Personnel Development Association, said logistics must be developed to support e-commerce.

Toan said online businesses need to invest in market research to identify customer needs, improve their products and build their brands with a long-term vision.

In Vietnam, Amazon has partnered with the Agency for E-Commerce and Digital Economy to train 10,000 people for the cross-border e-commerce industry.