Russian E-commerce market worth 16 billion euro in 2017

The Russian e-commerce market was worth 7,2 billion euro in the first half of 2017. The Association of Internet Trading Companies and the Russian Post state that this is a 22 percent year-on-year increase. The Russian online etail industry is expected to grow to almost 16 billion euro by the end of this year.

Cross-border trade in Russia grew even harder than the total e-commerce industry, as it increased by 34 percent during the first six months of 2017. It is expected that cross-border e-commerce will account for 37% of e-commerce in Russia by the end of this year. This means it will be worth over 6 billion euros by the end of the year.

The Russian market has a huge imbalance between imports and exports. Alexey Fedorov, president of AITC, states that local sellers of appliances and electronics saw their revenues grow 11 percent, now worth 1.4 billion euros. It will squeeze out Russia’s online sales of small appliances and apparel within a couple of years if cross-border e-commerce keeps these growth rates.”

Russian cross-border online shoppers like to shop in China, which holds a 90 percent share of foreign goods ordered by Russian customers.