Mexico accounts for 13.2% of total e-commerce sales worldwide

Mexico’s share of total global online sales is 13.2%, according to an analysis by e-commerce firm Blacksip based on Insider Intelligence data.

Mexico thus overtakes Singapore, Russia and Canada among the 10 countries with the highest share of digital sales in the world.

China is the country with the largest share of digital trade in the world, at 45.9%. e-commerce turnover. They are followed by the UK with 32%; Indonesia – 28.8%; South Korea with 26.4%; United States with 15.6% and Japan with 13.9%.

Mexico achieved this position in 2022-2023, when it rose from tenth to seventh place, largely due to the Aztec country being the market where e-commerce grew the most globally, with sales of $27 billion, an increase by 24.6% compared to 2022.

According to the Blacksip report, the progress of online sales in Mexico is due to the fact that the country is an attractive market for companies interested in expanding in Latin America, which should be added to the fact that the Mexican market e-commerce user has the highest average income in the region – $539 per user.

REGIONAL GROWTH

According to the Blacksip study, the regions with the highest growth in the e-commerce sector are South Asia and Latin America. Latin America, the region that includes Mexico, saw growth of 14.3% in 2023.

Although e-commerce growth in the region is expected to slow down between 2024 and 2027, growth in this sector will still exceed sales in stationary stores.

However, according to the report, Latin America is experiencing political changes, such as a regime change of new governments, that are affecting the performance of its economy.

Despite the uncertainty caused by these political changes in the region, Latin America is expected to once again reach online sales above $1 trillion in 2024, an amount that could only be seen in 2020, thanks to the effects of the Covid-19 pandemic.

CHINA

The ultimate e-commerce winner in the world is China. The Asian giant holds almost half of the global online sales pie. Moreover, according to Insider Intelligence data, global online sales growth would be only 12.2%.

China ended 2023 with online sales of $2,931 trillion, up 9.3% from 2022 and with digital commerce accounting for 50% of the Asian giant’s total retail sales. . Moreover, one third of this amount (31.6% is accounted for by cross-border purchases).