The annual value of business-to-consumer (B2C) eCommerce exports from Singapore will be around $1.03 billion in 2021, per a report from Amazon.
The report, “Local Sellers, Global Consumers: Capturing Singapore’s e-commerce export opportunity,” says the value could reach $2.6 billion in 2026 if micro, small and medium-sized enterprises (MSMEs) keep up the pace of boosting eCommerce to sell around the world.
MSMEs now account for about 45% of Singapore’s B2C value of eCommerce exports this year.
The report from Amazon was prepared by AlphaBeta, a consulting firm, and is looking into the size of Singapore’s eCommerce export potentials. It surveyed over 300 MSMEs from Singapore.
If the current trends continue, the value of B2C eCommerce exports annually could grow 5% per year, the report says, to reach around $1.2 billion by 2026.