Previously, BI expressed optimism in January 2023, predicting that the total value of e-commerce transactions would reach IDR 533 trillion in 2023, a year-on-year increase of 12%.
And now referring to BI's latest forecast, this means that the total value of e-commerce transactions for the whole of 2023 is likely to decline by about 0.6% compared with last year.
However, BI is still optimistic that e-commerce transactions will show better development in the future.
They predict that total e-commerce transactions will reach IDR 487 trillion in 2024, a year-on-year increase of 2.8%; by 2025, total e-commerce transactions will increase again by 3.3% year-on-year to IDR 503 trillion.
This is consistent with the increasing size of technology, the acceleration of the digitization of payment systems, and the increasing public acceptance and preference for digital transactions.
