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Southeast Asia (SEA)'s internet economy is poised for significant growth, with Indonesia leading the charge. In 2025, Indonesia's internet economy was estimated to reach ** billion U.S. dollars in gross merchandise value (GMV), far surpassing other countries in the region. Singapore, despite its smaller size, generated GMV of approximately ** billion U.S. dollars.

E-commerce: the largest segment of SEA’s internet economy 

Key segments of SEA’s internet economy include e-commerce, online travel, online ride-hailing and food delivery, and online media. Among these, e-commerce is the largest segment, with its GMV estimated to reach nearly *** billion USD in 2024. According to an online survey, more than **** of respondents in Southeast Asia preferred online shopping compared to ** percent favoring in-store shopping. Online marketplaces such as Shopee, Lazada, and Tokopedia are the most popular in the region. As of 2023, Shopee was SEA’s leading e-commerce platform by GMV.Ìý

E-commerce market size by country 

Indonesia, the most populous country in SEA, evidently has the largest e-commerce market in the region. In 2025, its e-commerce GMV amounted to approximately ** billion U.S. dollars and is forecasted to reach *** billion U.S. dollars 2030, driven by a rapidly expanding e-commerce user base in Indonesia. Meanwhile, Thailand, Vietnam, the Philippines have relatively comparable e-commerce market sizes, with Malaysia’s and Singapore’s being smaller in comparison. These Southeast Asian e-commerce markets are expected to continue growing in the upcoming years; however, Indonesia, Thailand, Vietnam, and the Philippines are projected to grow at a much faster pace compared to Malaysia and Singapore.Ìý