By: Business Inquirer
The Department of Trade and Industry (DTI) seeks to double the contribution of e-commerce to the economy to P1.2 trillion by 2022, from nearly P600 billion in 2020.Trade and Industry Secretary Ramon Lopez announced this target as he unveiled the latest roadmap for the e-commerce sector, which played a critical role during the pandemic.[READ: DTI prepares MSMEs to adopt e-commerce]
“From a baseline of P599 billion that e-commerce contributed to our economy in 2020—equivalent to 3.4 percent of GDP (gross domestic product)—our target is to increase this to P850 billion by 2021 or 4.3 percent of GDP and P1.2 trillion or 5.5 percent of GDP by 2022,” Lopez said in an online event. The DTI, however, could not say how much e-commerce grew last year compared to previous years’ levels.
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