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E-commerce & Fintech Boost Digital Economy Indonesia

8 November 2022 02:16

In their latest report, Google, Temasek, and Bain Data show that Indonesia's digital economy continued to show positive growth in 2022, boosted by growth in e-commerce and digital financial services.

In 2022,  Indonesia's digital economy grew by 22 percent compared to the previous year  as its gross merchandise value reached 77 billion dollars,  higher than the 63 billion dollars, achieved in 2021. This year Indonesia still maintains its position as the country with the largest digital economy in Southeast Asia.

One of the biggest drivers of Indonesia's digital economy was e-commerce. In 2022, the gross merchandise value of e-commerce in Indonesia  rose by 22 percent to reach 59 billion US dollar. Meanwhile, digital financial services in Indonesia also grew by 13 percent in 2022 reaching a gross transaction value of 266 billion dollars.

Investments into digital financial services also rose by 31 percent and is projected to grow further by nearly 75 percent to reach 10 billion dollars by 2025.