Turkish eCommerce Outpacing Overall Economic Growth

FCHAIN Türkiye informs:

Türkiye’s eCommerce sector is expanding rapidly, outpacing the general economy, as reported by Trade Minister Ömer Bolat at a recent summit. Between 2019 and 2023, eCommerce grew at a compound rate of 26%, with its share of GDP rising to 6.8% last year. Notably, eCommerce exports surged by 131% to reach $5 billion last year, with a target of $8 billion set for this year.

The minister highlighted that Turkish companies can easily engage in online exports, facilitating international trade. Following the introduction of platforms like AliExpress, small Turkish businesses quickly expanded their reach to 53 countries.

Despite high internet penetration in Türkiye, with 88.8% of the population active online and 96% of households having internet access, there is still room for growth in eCommerce usage. Currently, only about 52% of Turks have utilized online services for purchasing goods in the past year, indicating potential for increased engagement.

However, recent customs regulations and higher tariffs on imported goods could temporarily hinder growth in eImports, leading to a shift toward local eCommerce. Experts expect that as consumers adapt to these changes, the domestic market will continue to thrive.