Southeast Asia e-commerce sales reach $172.5 billion in 2025

Retail e-commerce sales across six Southeast Asian markets reached US$172.5 billion in 2025, representing a 21% year-on-year increase. This growth rate outpaces the wider Asia-Pacific market, which grew by 11%, according to a report by Euromonitor International.

The six markets included are Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. These nations increased their share of the Asia-Pacific retail e-commerce market from 6% in 2020 to 9% in 2025. Combined sales in the region are projected to reach US$323 billion by 2030.

Indonesia is the largest market in the region, expected to account for approximately 37% of regional sales in 2026, followed by Thailand at 21%. While Indonesia is forecast to grow by 14% in 2026, Vietnam and the Philippines are expected to see the fastest growth rates at 19% and 16%, respectively.

Key drivers for this expansion include rising consumer incomes and increased internet connectivity. Vietnam, in particular, saw average internet connections per person rise from 1.3 in 2020 to 2.1 in 2025.