Indonesia’s E-commerce Transaction Value to Hit US$37.1 Billion in 2022

Indonesia’s e-commerce transaction value is projected to grow to US$37.1 billion in 2022, exceeding the US$28.2 billion forecast in 2021, said to Bank Indonesia’s (BI) Governor Perry Warjiyo at the recent 3rd Indonesia Fintech Summit 2021 in Jakarta.

The governor emphasized the central bank’s commitment to continuously improve four areas that support the achievement of the e-commerce’s forecast value and maximize the sector’s potential. 

The first area – digital infrastructure – encompasses transportation and logistics to ensure nationwide coverage and access.

Another area that needs to be integrated into the digital ecosystem, which covers digital banking, financial technology, and e-commerce infrastructure, Warjiyo highlighted, adding that the financial technology system relies on the digital banking infrastructure, and e-commerce plays its role in expanding its user reach.

The third area – payment systems – has begun reforms to boost the e-commerce transaction infrastructure in Indonesia.

Digital literacy among people also needs to be improved, Warjiyo said, to enable them to understand the transactional risks in using financial technology and choose more secure tools to benefit the national economy.