Indonesian E-Commerce Transaction Value Declines 4.73% in 2023

E-COMMERCE - JAKARTA. The total value of e-commerce transactions throughout 2023 apparently did not reach the target set by Bank Indonesia (BI). Previously, in the BI Annual Meeting 2023 report, the monetary authority estimated the total value of e-commerce transactions throughout 2023 to be IDR 474 trillion.

However, BI Deputy Governor Filianingsih revealed that the total value of e-commerce transactions throughout last year only reached IDR 453.75 trillion. This even dropped by 4.73% compared to the total transaction value throughout 2022, which was IDR 476.3 trillion.

Nevertheless, Filianingsih sees that the e-commerce sales trend remains sweet, with a volume reaching 3.71 billion times.

The volume of e-commerce sales increased from the transaction volume throughout 2022, which was 3.49 billion times.

“So, this is a continuously increasing trend, because there is a change in behavior from the community,” explained Filianingsih when answering Kontan.co.id's question, Wednesday (1/17).

On the same occasion, BI Governor Perry Warjiyo emphasized that BI is currently accelerating digital transactions. Considering, digitalization is the future of the world. Especially, in the next five years, the majority of Indonesia's population will likely be millennials who are familiar with digital transactions.

“Therefore, we will continue to encourage digital transactions to facilitate the millennial community. However, still in accordance with consumer protection principles,” Perry concluded.