Egypt’s E-Commerce Market is Now Worth EGP 40 Billion
The pandemic has forced a huge shift towards online shopping, something that Egypt's Internal Trade Authority is looking to maximize throughout 2021.
Given the current state of the world and the increasing dangers of mass gatherings, it’s no surprise that many Egyptians have opted to explore the world of online shopping. As a matter of fact, the Internal Trade Development Authority (ITDA) has estimated that in 2020 alone, ecommerce transactions amounted to EGP 40 billion out of the EGP 1.2 trillion that Egypt's total annual trade.
Ibrahim Ashmawy, Head of ITDA also revealed that the valuation only represents 10% of the real volume of online trade, as various other merchants and online shoppers conduct online trade through informal ways (such as Instagram merchants who provide cash-on-delivery services etc.).
He also commented that the next period will witness a stress on the role of e-commerce under the Egyptian Commodities Exchange, which will soon see the circulation of commodities via a soon-to-launch electronic platform. Ashmawy also revealed that ITDA is currently working with Egypt’s Ministry of Communications and Information Technology to draft an e-commerce law.
