Central Asian E-Commerce Market Surges to $8 Billion in 2022

The Central Asian e-commerce market reached $8 billion in 2022 and is expected to grow at a compound annual growth rate of 25.4% over the next five years, ZAWYA.com reported on Thursday with reference to the International Market Analysis Research and Consulting Group (IMARC).

Development of e-commerce market in the Central Asian region was a central topic of the conference “Harnessing the potential of e-commerce in Central Asia”, organized by the International Trade Centre’s EU-funded Ready4Trade Central Asia project in Dubai on  March 7-9. The three-day-long conference gathered policymakers and business representatives from Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan.

During the conference, the sides exchanged views on potential areas of public-private collaboration, key national policies and regulations to be addressed, ways to further strengthen trade cooperation within Central Asia.

According to the report, participants of the conference launched the e-commerce company NOVICA's Artisan Empowerment Hub, its 10th in the world, to provide Central Asian artisans with entirely new online sales channels, allowing them to sell to international customers worldwide.

Ready4Trade Central Asia is a four-year EU-funded project led by the International Trade Centre in close collaboration with national partners that aims to contribute to Central Asia's overall sustainable and inclusive economic development by increasing intra-regional and international trade in the region's countries.