Vietnam owning fastest growing digital economy in Southeast Asia

SGGP 03/11/2022 08:45

The digital economy of Vietnam is enjoying the fastest growth rate in the Southeast Asian (SEA) region, with estimated Gross Merchandise Volume (GMV) rise by 28 percent, from US$18 billion in 2021 to $23 billion this year, thanks to the 26-percent development of its e-commerce.

The growth rate speed of Vietnam's digital economy in SEA

This ranking is posted in the seventh edition of the e-Conomy SEA report by Google, Temasek & Bain and Company, themed ‘Through the Waves, Towards a Sea of Opportunity’.

Accordingly, digital financial services continue to increase significantly in Vietnam, the fastest being the digital loaning sector with its compound annual growth rate (CAGR) of 114 percent. The investment sector is expected to witness the most impressive leap in 2025 with a CAGR of over 106 percent.

Vice President Stephanie of Google Asia – Pacific Ocean, responsible for the Southeast Asian region, said that Vietnam is leading the ranking this year with its fastest growing digital economy. Its e-commerce sector is enjoying the speediest growth rate. Its GMV is gradually increasing to the estimated amount of $50 billion in 2025.

By Kim Thanh – Translated by Thanh Tam