E-commerce volume in Türkiye more than doubled in 2023

The volume of e-commerce in Türkiye surged 115.5% from the prior year to 1.85 trillion Turkish liras ($79.4 billion) in 2023, according to a report from the Trade Ministry on Monday.

The number of transactions rose 22.3% at an annualized pace to 5.87 billion units last year, said the report, titled Outlook of E-Commerce in Türkiye.

Revenue in Türkiye's e-commerce market is expected to hit 3.4 trillion liras this year and the number of transactions is projected to reach 6.67 billion units.

The ratio of e-commerce volume to general trade volume posted a significant hike in recent years, from 10.1% in 2019 to 20.3% in 2023.

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

More than half of e-commerce volume last year or 51% consisted of goods trade and 49% consisted of service trade, the report said.

White goods and small home appliances took the largest share from the e-commerce volume with 233 billion liras ($10 billion), the electronics sector with 135 billion liras ($5.8 billion) and the clothing, shoes and accessories sectors with 127 billion liras ($5.41 billion).