ISLAMABAD, June 29 (APP):: After the United States and China, Pakistan is now the third largest popular new seller on Amazon Marketplace with over 1.2 million registered vendors.
Pakistan was allowed to enter Amazon in May 2021, a year after the talks began in 2020, following the implementation of Pakistan’s first e-commerce policy, Marketplace Pulse research reported.
Pakistani vendors count more than the rest of the countries in the world and there are more sellers in Pakistan as compared to India, Vietnam, UK, and Canada.
The country which has just registered itself with the market is home to the world’s three largest Amazon seller groups: “eCommerce by Enablers” with over 1.2 million members, “Extreme Commerce by Sunny Ali” has 1.1 million members, and “Ecommerce Success Pakistan” has nearly 200,000. These groups started long ago before Pakistani sellers were officially allowed to sell on Amazon, according to Market Plus.
These vendors are expected to contribute to Pakistan’s over $28 billion exports.
Young entrepreneurs and small and medium-sized enterprises across the country will be able to avail the benefits offered by the platform which will widen and diversify Pakistan’s export basket. This will not only enhance their revenues but also help the government in improving the macroeconomic outlook of the country, it added.
The expansion of the e-commerce industry is important to support the medium and small-sized businesses to help operate profitability with the rising cost of doing business.
Pakistan e-Commerce policy is part of the overall ‘Digital Pakistan’ policy launched aimed at paving the way for holistic growth of e-Commerce in the country by creating an enabling environment in which enterprises have equal opportunity to grow steadily.
The major exports of Pakistan that contribute to over $28 billion per annum to the national economy include textiles, leather and sports goods, chemicals, carpets, and rugs. Pakistan also exports significant quantities of rice, sugar, cotton, fish, fruits, and vegetables.
According to eCommerce analysis,”Pakistan is the 37th largest market for eCommerce with a revenue of US$5.9 billion in 2021, placing it ahead of Iran and behind Israel.
With an increase of 45%, the Pakistani eCommerce market contributed to the worldwide growth rate of 15% in 2021. Just like in Pakistan, global eCommerce sales are expected to increase over the next years. As new markets are emerging, global growth will continue over the next years. This development will be propelled by East and Southeast Asia with their growing middle class and their lagging offline infrastructure”.
With a yearly growth rate of 7% between 2021 and 2025, Pakistan is even expected to outperform the global average of 6%, it further adds.
Pakistan had adopted an e-commerce policy in 2019 but a lot more is required to do on a privacy statute of general application or a national consumer protection, which applies directly to electronic commerce. The e-commerce’s success is solely linked to the consumer’s trust and sense of satisfaction which must be ensured on industrial and state level to give exports further stride.