China: online shopping to surpass Switzerlands GDP in value in 2016

Monday 19 May 2014 10:21 CET | News

Chinese ecommerce platform Alibaba has predicted in its IPO that China’s ecommerce market will grow twofold by 2016, online media outlet reports.

China’s online sales were worth USD 295 billion (CNY 1,841 billion) in 2013 and is expected to increase to almost USD 595 billion (CNY 3,790 billion) in 2016, which amounts more than the nominal GDP of Sweden or Switzerland per 2013.

At present, the amount of money spent in the Chinese retail cyber sphere is larger than the entire economies of Egypt or Finland.

China’s internet users reach 618 million, according to government figures, which is just below half of those who regularly shop online.

China’s mobile internet user base was 500 million, as of the end of 2013.

The number of orders for the average active buyer on Alibaba’s marketplaces went up to 49 in 2013, as compared to 39 in 2012 and 33 in 2011.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: China, online shopping, Switzerland, GDP, ecommerce, online sales, internet users
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce