Indonesia’s E-commerce revenue reaches US$51.9 Bn, highest in Southeast Asia

21 Jun 2023

ICT & Digital Economy

Indonesia stood the tallest among other Southeast Asian countries with US$51.9 billion, or around Rp 778.7 trillion, in e-commerce business revenue in 2022, a Singapore-based research and venture builder firm Momentum Works highlighted in its recently published report "Ecommerce in Southeast Asia 2023". 


The report calculated the revenues of Southeast Asian countries’ e-commerce business through the accumulation of the purchase value – also referred as Gross Merchandise Value (GMV) – among the existing marketplaces.  


In total, e-commerce revenue in Southeast Asia in 2022 reached $99.5 billion, or equivalent to Rp 1,491 trillion. Indonesia’s e-commerce businesses make up 52% of the total, followed by Thailand (14.4% or $14.4 billion), the Philippines (11.5% or $11.5 billion), Vietnam (9% or $9 billion), Malaysia (8.7% or $8.7 billion), and Singapore (4% or $4 billion). 


Six marketplaces lead the pack among other contributors to Indonesia’s GMV. Shopee ranked first for the nation’s purchase value from e-commerce users with 36 percent of the share, followed closely by Tokopedia with 35%. The remaining marketplaces were Lazada, Bukalapak, TikTok Shop, and BliBli.  


The following are the details and estimated contribution of each marketplace to the total GMV: 

  • Shopee - 36 percent or around 18.6 billion 

  • Tokopedia - 35 percent or around 18.1 billion 

  • Lazada - 10 percent or around 5.1 billion 

  • Bukalapak - 10 percent or around 5.1 billion  

  • TikTok Shop - 5 percent or around 2.5 billion 

  • BliBli - 4 percent or around 2.0 billion 

(revenue in US$) 


The business of e-commerce has taken an increasingly important role in Indonesia’s economy. The local government has also taken an active role in encouraging the sector's growth. In 2019, the government issued Government Regulation No. 80/2019 on trading activities through electronic systems (also known as PP PMSE) to smooth the development of sustainable e-commerce business and increase the trade volume of local products both domestically and overseas. 


Statista, a German-based statistical data provider and analyst, projected the Indonesian e-commerce revenue to have an annual growth rate of 10.35 percent for 2023-2027, resulting in a projected market volume of $69.57 billion by 2027 and users to 244.70 million by 2027. 


(Exchange Rate: US$1 = Rp 15,012,00)