REUTERS
A global e-commerce market is growing at a rate of 23%-25% per annum.
Ukraine ranked second in Europe in terms of e-commerce growth rate, which indicates the country's significant market potential.
This is according to the report by the Better Regulation Delivery Office (BRDO), an independent advisory body on regulatory policy in Ukraine (funded by the European Union), which was presented at a roundtable discussion on December 5.
Head of BRDO IT and Telecom Sector, Oleksandr Kubrakov, said that the Office estimated the growth of Ukraine's e-commerce market at more than 30% annually, despite the country's lagging behind other important positions. In particular, Ukraine takes low positions in the doing business rating, the penultimate position in Europe in terms of GDP per capita, the last position with regard to Internet penetration rates, and also lags behind by 10-20% from neighboring countries in terms of bank cards penetration.
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"The global e-commerce market is growing at a rate of 23%-25% per annum. The indicator is much higher in Ukraine, that is about 30% per year," the expert said.
The similar growth rates of Ukraine's e-commerce market may persist for a long time, as the share of its online retail sales in 2017 was 3.2% (against 2.5% in 2016), whereas this figure was 8.8% in Europe and 17.8% in the UK on average.