eMarketer published a list of the countries projected to achieve the fastest growing sales via e-commerce this year and the coming two years. The list is comprised of 15 countries.
According to the report, India topped the list of countries expected to achieve strong growth in the e-commerce market. The report predicted India will mark a 40.1% growth in e-commerce sales in 2018.
Moreover, India’s e-commerce growth is expected to grow by 23.9% in 2019 and by 22% in 2020.
Argentina came in second place with an expected growth rate of e-commerce activity of 33.5% this year, 28.7% next year, and 22.1% in 2020.
Indonesia ranked third, with projected growth this year of 32.9%.
Indonesia is expected to achieve a growth of 20.6% in 2019 and 18.5% in 2020.
China was fourth on the list, with an expected growth of 29.8% this year, 25.8% in 2019, and 24.1% in 2020.
Mexico ranked fifth with an expected growth rate of 22%, 20.3% at the end of next year, and 18.9% in 2020.
The Philippines was ranked sixth, with the report predicting that the growth rate of e-commerce by the end of the current year will score 21.5%, 19.8% next year, and 16.2% in 2020.
Thailand ranked seventh in terms of growth in electronic commerce during the current year, boasting 18.8%. The sector there is expected to grow by 18.1% in 2019 and by 17.6% in 2020.
Vietnam ranked eighth on the list with an expected growth rate of 18.5% this year and 16.8% in 2019, while growth in 2020 there is predicted to be 13.2%.
Ranked ninth is Malaysia with projected growth rates of 17.6%, 16.8%, and 15.8% in 2018, 2019, and 2019 respectively.
The report ranked Russia 10th in terms of growth rates of e-commerce activity, projecting 15% this year, 14.7% in 2019, and 12.8% in 2020.
Meanwhile, the United States ranked 11th on the list, scoring 14.8% expected growth this year, 14.4% next year, and 14% in 2020.
Canada ranked 12th on the list with a predicted growth rate of 13.5% this year, 13% next year, and 12.3% in 2020.
Singapore then followed with expected growth of 12.1% in 2018, 11% in 2019, and 9.8% in 2020.
Brazil is in the penultimate position with predicted growth rates of 10%, 9.3%, and 8% in 2018, 2019, and 2020 respectively, while Spain tailed the list with 8.8% expected growth in 2018, 7.4% in 2019, and 6.3% in 2020.