Kazakhstan reports 7-fold increase in e-commerce

According to estimations from international analytical agencies, the global e-commerce market size in 2024 was $6.3 trillion, with e-commerce accounting for 20%. Further growth is projected to reach $6.8-7 trillion in 2025, and in a mid-term outlook, the figure is expected to exceed $8 trillion by 2028.

The speaker says that e-commerce is actively developing in Kazakhstan, becoming an element of daily economic activity.

“By the end of 2024, domestic e-commerce volume was 3.2 trillion tenge, or 14.1% of the total retail trade. Overall, the target indicator of 15% of retail trade volume is expected to be reached by the end of the current year. We have set a goal to increase the share of e-commerce in total retail trade to 18.5% by 2029,” said Orazgaliyev at a briefing in the Central Communications Service office.

According to him, the market's growth potential is already evident. This is driven by the widespread adoption of cashless payments, the development of retail fintech, and internet availability.

“We see a noticeable increase in the number of sellers on marketplaces. For example, across different platforms, multiple sellers now compete within a single product listing. This trend is driven by the growing presence of mid-price segment sellers entering marketplaces. Instead of creating their own websites, they prefer to use marketplaces, which allows them to launch faster and gain access to the platform's resources, such as a customer base and logistics capabilities. In the future, further growth in the number of sellers is expected, along with the adoption of new tools to gain competitive advantages,” he noted.

Earlier, Qazinform News Agency reported that Kazakhstan’s retail e-commerce market reached a record volume of 3,439 billion tenge in 2024, marking a 42% increase compared to the previous year, according to a new report by PwC.