The e-commerce market in Pakistan continues to grow in 2018

The e-commerce market in Pakistan continues to grow in 2018

Pakistan's "Forum Express" reported on December 26 that thanks to the increasing digitization and accessibility of the network, the e-commerce market in Pakistan achieved unprecedented development in 2018, and the retail sales of e-commerce increased by nearly 100% compared with last year. According to data released by the Pakistani central bank, Pakistan’s e-commerce sales reached 401 billion rupees, an increase of 93.7% over the same period last year. However, the current cash on delivery settlement method accounts for 90% of the total e-commerce transactions, accounting for 60% of B2C e-commerce transactions. This traditional payment method is still restricting the development of the Pakistan E-commerce market. The main reason is the sellers and buyers. The relationship of trust has not yet been established. According to the report, there are currently 153 million mobile network users in Pakistan, accounting for 73% of the total population, of which 3G/4G users reach 61 million. Next year, national mobile network operator Jazz plans to invest $200 million to increase 4G network coverage in remote areas. The rapid development of the Pakistani e-commerce market has also attracted the attention of international investors. Earlier this year, Alibaba, the world's largest e-commerce platform, acquired the Dallas Group in five countries: Pakistan, Bangladesh, Myanmar, Sri Lanka and Nepal. Pakistan is the largest market among the five countries. According to market experts, Alibaba plans to build a complete e-commerce infrastructure network in Pakistan including online marketplaces, online payments and individual logistics. According to the McKinsey Global Institute report, in the 10 years from 2016 to 2025, Pakistan can help Pakistan's GDP increase by 7 percentage points, about 36 billion US dollars, and create 4 million new jobs through e-finance services.http://www.mofcom.gov.cn/article/i/jyjl/j/201812/20181202820229.shtml