E-commerce volume in Turkey more than doubled in 2023

Turkey’s e-commerce volume increased 115.5% from a year earlier to 1.85 trillion Turkish liras ($79.4 billion) in 2023, according to a Monday report by the Ministry of Commerce.

The number of transactions increased by 22.3% year-on-year to 5.87 billion units last year, according to a report titled Türkiye E-Commerce Prospects.

Revenue in the Turkish e-commerce market is expected to reach 3.4 trillion liras this year, and the number of transactions will reach 6.67 billion units.

The ratio of e-commerce volume to general trade volume has increased significantly in recent years – from 10.1% in 2019 to 20.3% in 2023.

The ratio of e-commerce volume to gross domestic product (GDP) also increased by 33.3% year-on-year to 6.8% in 2023.

The report shows that over half of e-commerce volume last year, or 51%, was trade in goods and 49% was trade in services.

The largest share in e-commerce volume (233 billion lire ($10 billion) was held by home appliances and small household appliances, the electronics sector with 135 billion lire ($5.8 billion) and the clothing, footwear and accessories sector with 127 billion lira ($5.8 billion). 41 billion).