E-commerce Transactions Reach IDR42 T by October 2023

SEAToday.com, Jakarta - Bank Indonesia (BI) noted that e-commerce transactions in Indonesia reached IDR42.2 trillion as of October 2023. In a press conference on Thursday (11/23), BI Deputy Governor Filianingsih Hendarta revealed that this figure grew by 10.69 percent month-on-month (mtm) or 4.99 percent year-on-year (yoy).

According to her, e-commerce transactions increased due to several factors, including the increasingly widespread culture of shopping at online stores and promotions, especially during the twin dates. Meanwhile, the products that recorded the highest transactions in e-commerce were fashion, personal care, cosmetics, and household and office supplies.

On the same occasion, BI Governor Perry Warjiyo said that e-commerce transactions increase the acceleration of money circulation so that people's efficiency and productivity increase. In addition, e-commerce transactions are said to help control inflation as the prices of goods in online stores tend to be cheaper.