SMEs Powering Vietnam’s Digital Export Wave
Vietnam’s e-commerce market is experiencing a historic rise. In 2023, it grew by 52.9%, the fastest rate among all Southeast Asian countries. This surge marks the beginning of what many now call the Vietnam Cross-Border E-commerce Explosion — a new era of digital exports driven by small and medium enterprises (SMEs).
Read more: Vietnam Cross-Border E-commerce: SMEs Powering Regional Exports
During the first half of 2024, Vietnamese consumers spent around US$5.68 billion on e-commerce platforms, a remarkable 54.91% increase compared to the same period last year. This strong domestic activity has created a foundation for Vietnam’s regional export expansion, with local brands now selling actively to neighboring markets such as Thailand, Indonesia, and Malaysia.
Vietnam Becomes a Regional Online Export Hub
Vietnam has overtaken the Philippines to become Southeast Asia’s third-largest e-commerce market, underlining its rising status as a digital export hub. The region’s top eight e-commerce platforms reached a combined GMV of US$114.6 billion in 2023, with Vietnam contributing significantly through both local consumption and exports.
Much of this growth comes from cross-border online sales facilitated by platforms like Shopee and TikTok Shop. These two platforms alone have reshaped Vietnam’s SME export ecosystem. Shopee recorded a 65.96% increase in export-related revenues, while TikTok Shop saw an even larger 150.54% jump, reflecting Vietnam’s growing strength in social commerce and digital marketing.
The country’s competitive advantage lies in its affordable digital infrastructure, youthful workforce, and creative marketing strategies. SMEs have been quick to leverage influencer partnerships (KOLs) and live commerce features to reach new buyers across ASEAN markets.
SMEs at the Core of Vietnam’s Cross-Border Success
Vietnamese SMEs are the heart of this e-commerce transformation. Over the past four years, the country’s e-commerce market has maintained an annual growth rate between 16% and 30%, largely fueled by SME participation. Many of these businesses are first-time exporters, using digital tools to bypass traditional trade barriers.
Regional e-commerce platforms provide an accessible gateway for Vietnamese sellers. From fashion and cosmetics to household goods, local brands are finding strong demand from Southeast Asian consumers seeking affordable yet high-quality products. The ability to list, market, and ship directly through integrated platforms allows SMEs to scale rapidly without massive capital investment.
The Vietnam Cross-Border E-commerce Explosion also reflects the nation’s digital maturity. The combination of government support for digital transformation, improved logistics networks, and growing consumer confidence has positioned Vietnam as a new powerhouse in regional online exports.
The Future of Vietnam’s Digital Trade
As Southeast Asia’s digital economy continues to expand, Vietnam’s SMEs are expected to play a central role in shaping the region’s e-commerce landscape. With sustained investment in logistics, payment systems, and digital infrastructure, cross-border trade is set to grow even faster.
TikTok Shop’s record-breaking growth and Shopee’s expanding export volumes prove that Vietnam is no longer just a manufacturing hub — it is becoming a regional digital trading hub.
In the years ahead, Vietnam’s continued focus on empowering SMEs through technology adoption will be key to maintaining this upward momentum. The Vietnam Cross-Border E-commerce Explosion is not a short-term trend but a lasting transformation of how the country trades with the world.
