Thailand’s e-commerce industry has grown rapidly amid Covid-19 restrictions that hampered face-to-face transactions, with the number of total registered merchants surpassing 3,500, the Ministry of Commerce said on Friday.
“794 new online enterprises were registered in the first seven months of 2021, nearly the same as 798 formed throughout 2020,” said Sinit Lertkrai, the Deputy Minister of Commerce.
The number of newly established online stores in July alone, 112, jumped by 42 per cent year-on-year, he told reporters.
“Thailand has consistently developed the infrastructure to support e-commerce trends and encouraged business sectors to migrate to a digital economy.”
The covid-19 crisis, he said, has highlighted the success of the transition into online platforms for business sectors.
The ministry also stated that foreign investment into the Thai e-commerce business in 2021 has expanded, with Singapore topping the list, followed by Hong Kong and China.
According to Sinit, the sector recorded income of 111.7 billion baht in 2020.